Pricing, pricing, pricing
There is a very interesting guest post on Joe Konrath’s blog on the much talked about subject of ebook pricing. Elle Lothlorian makes a good case for the ~$4.99 price point. Check out the post and come back for my brief comments:
I’ve worked in retail, in one way or another, for the last 22 years. Elle Lothlorian’s statement about the impression a cheap price can leave on a potential buyer is spot on. I’ve seen it a million times. People passing up that store brand item on the store shelf because it’s “cheap” – not in price, but in presumed quality. The reality is, in many cases, that “cheap” store brand item is quite comparable to the more expensive item. And let’s be honest, Joe’s follow-up comment with example revenues at various price points pretty hits it out of the park.
So knowing consumers, as I do, the post makes complete sense.
As I said, this isn’t a new topic, but for anyone that still thinks the 99 cent ebook novel is a great way to get started, you may as well take your chances with Big Pub. The return for your effort will likely be about the same.
Now, in my case, I’ve not had a full novel available for sale on Amazon. So I can’t back up the argument with my own experiences. I could experiment and raise my novelette prices to $2,99 for the 70% royalty rate, but that seems like a lot for 10,000 to 12,000 words…but that doesn’t mean I can’t test the theory for a little while.