Wednesday, October 2, 2013

5 Tips about Pricing Your Book

Book pricing can be tricky. Charge too low, and your book looks cheap or worse, you cheat yourself out of a profit. Price too high and lose credibility and sales. So how do you choose the best price.

Tip #1: Take into account your total costs to produce. Budget your project and then divide that number by the quantity of books you'll print and you'll get your price per book. For example, if your total costs to produce is $3,500 and you print 500 books, then you'll need to charge a minimum of $7.50.  However, if you only print 100 books, you can expect to take a loss because few people are going to pay $35 for your novel.

Tip # 2: Do NOT print a price on your book. Once that price is on the book, it's final. If you have to lower the price it will look as though your book was not worth the price. If you find out people will pay more than the printed price, you're stuck. No one will happily pay more than the printed price.

Tip # 3: The minimum price for most hardbound book should be $12

Tip # 4: Best eBook Pricing is between $0.99 and $5.99 for world-wide appeal. Those you know will probably pay more to support you, but remember your eBook is available GLOBALLY. The rest of the world does not know you, and your $9.99 eBook has too much competition for them to even consider buying your book.

Tip # 5: Don't just think money when considering your price. Be strategic. Study your topic and find out what other authors are charging for the same product.

Happy Selling!

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