The best time to determine how much you want to sell your book is once you decide to write. This is because your book content must be worth your book price, if not more than. New authors make the mistake of making book pricing the last thing on the list and they end up being victims of either underpricing or overpricing, which isn’t good if the book must sell.
If you’re an aspiring author, here are 3 things that you must know when pricing your book and I’m glad to guide you through this journey.
- Lower book prices might not necessarily bring more buyers: Somehow, aspiring authors cultivate the mindset that lowering their book price will automatically drive a multitude of buyers their way. This is a fallacy, and it’s never true. If it’s your first time authoring a book then, you must be prepared to work smarter to get your book into the hands of your target audience. Pricing your book lower than what it should be is a wrong strategy that will make you regret it afterward.
- The volume of your book doesn’t equal a high price: Readers don’t buy volume, they buy value. In the writing industry, what makes your book a bestseller isn’t the volume but the problem that the content of your book is solving. Once your book proves to solve a particular problem, readers struggle to get a copy even if the book price is on the high side. Instead of adopting obvious repetition and jargon in your manuscript to increase volume, focus on solving a problem with your book and stick to what matters.
- Your book price must not be a round number: Have you heard of charm pricing? Well, if you haven’t, it is a psychological way of ending a price of a product with an odd number which is often 9. You can adopt this marketing strategy and sell your book easily. Your book price can be $2.99 instead of $3.00. It can be £7.99 instead of £8.00. The beauty of this strategy is that it gives you an edge over your competitors because an average human will always go for what seems more beneficial, especially when it relates to money. They don’t see that the difference between $2.99 and $3.00 is just $0.01.
In conclusion, you must know that your book will not sell itself, you must make a conscious effort to get your book to the final consumer.
You can check our previous post on 5 HABITS THAT MAKE YOU A BETTER WRITER