Want to know how to price your ebook to maximize sales? Read on. This article grew out of a question that was sent to me by a subscriber, so I thought I would keep it in question and answer form.
Over the course of this winter I have been studying the information posted on your website concerning e-books. All of it has been extremely helpful with understanding this and what all is involved. However there is one very important part missing and that concerns pricing the book. I don't see anything at all that deals with pricing. Do I arbitrarily put something on it and hope for the best or are there guidelines for setting the price?
I would greatly appreciate your suggestions concerning this as by early summer I am hoping to have a picture e-book of my farmland photography available.
Pricing your ebook can be a tough call, especially since prices run the gamut. For instance, internet marketers can command hundreds of dollars for their downloadable books, while ebooks with equally compelling content, but on a subject that doesn't enable people to make money, tend to sell for twenty dollars or less. Of course, this isn't always the case, so make sure to read on.
When you price your ebook, you can't do what the authors of self-published books do: go into Barnes & Noble and compare your book with other books in your category to come up with a comparable price. And even if you were able to do this, you don't know how well these other books have sold and whether they were priced correctly.
So what's an ebook author to do?
Do you test different prices (as you suggest in your question) and undermine your credibility in the eyes of those who keep coming back to your site, but haven't yet purchased? If every time they visit your site, you're testing a different price, it will look to them like no one is buying your ebook.
Rather than dreaming up some magical number, is there a scientific, market-based tool that will help you come up with the perfect price point—that irresistible number that will cause prospects to reach for their wallets and pull out their credit cards?
I'm pleased to say there is. I have used an online tool to determine the best prices for three books I wrote: a traditionally printed, self-published book, an e-book and a short 13-page electronic report. When I say that you can price your ebook (or any other product, digital or otherwise) successfully, this means that you position it so that it will sell and maximize your profits.
This product is called Make Your Price Sell. It is an online tool that turns the art of pricing into an exact science.
It is a tool used by individuals and big corporations alike to arrive
at the perfect price point. Best of all, it's so straightforward, you
can be up and running (in terms of how to price your ebook) in about an
hour. Price your ebook right and you will maximize your sales.