Your Kindle book is ready and you want to publish it. If you’ve looked up anything about marketing your Kindle book, then you know that there are several factors that directly affect your sales. The three most popular are the description, cover and reviews. No one’s saying that these aren’t important, but there’s a fourth factor that should be added to this list: price.
Does your price convey value, or does it oversell the book? Does your price tell people to quickly buy the book, or does it make them wary? Pricing is fluid because there are many different strategies, so here are a few things to consider.
Before getting into the strategies, let’s talk about royalties, or how much you make from each sale. Kindle gives you two options: 35% or 70%. This most depends on price. If your book is between $2.99 and $9.99, which is considered competitive, then you are eligible for 70% royalties. Anything else, higher or lower, is 35% royalties.
There’s really nothing wrong with taking the lower amount. It actually has some advantages depending on which strategy you choose. However, if you want to make the most per sale, then choosing that competitive price range is obviously the best choice.
Many Kindle books writers make the majority of their money after the sale. The book is often a report with a URL prominently featured that brings the person to the writer’s blog, money site or a similar website. Lead generation, when done according to Kindle’s rules, has proven to be very profitable for certain people.
Not only does this build a list of people who are willing to spend money on your products, but it also immediately shows them that you are an authority, which ensures that they will continue to trust you.
Lead generation books are meant to be sold very quickly, and they are meant to have a low access point. Most experts agree that pricing the book at $0.99 is perfect, but up to $2.99 can also be effective. This ensures that people aren’t risking anything by buying your book because they are only losing a small amount of money if your book is terrible.
If this is your plan, then a low pricing strategy is the best bet for success. Going any higher will greatly reduce your sales and potential traffic generation.
Fiction and Core Content
Fiction and core content are regular books that you commonly find on the Kindle store. Core content is often reference books and other non-fiction books that many people would be interested in. If you were to go into a bookstore, this section would be the common books that people would find and buy.
Both have different pricing strategies, but they are very similar because they both do best in the competitive pricing range.
Most fiction books (unless they are short stories) tend to do best in the $2.99 to $4.99 range for new writers. Established writers tend to charge around $9.99 to $14.99. This somewhat low pricing is high enough to tell people that the book has value, but it’s low enough for people to give the writer a try.
Core content sells for a little bit more because the readers are more conscious of value. If a reference book sells for just $2.99, then people might be worried about the validity of the information. These books usually sell for about $5.99 to $9.99. some shorter books do well at $2.99, but most do well at a higher area.
These are books for a very small market. For example, textbooks, books about programming and other tight niches with relatively few readers are specialty books. The pricing strategy here is a little hard to pin down because it largely depends on the market.
A book about programming is fairly common in the specialty department, and many will sell for about $14.99 to $25.99. Textbooks are meant to have a lot of value, and some have gone for $100+.
If you are publishing a specialty book, then you have to consider similar books in your area and what people are willing to pay. These books tend to have a lot of value, but they will only sell if there is a market.
The obvious strategy is pricing your book higher than normal because there will be fewer buyers, but don’t price too high because then you won’t sell any books.
Choosing the perfect price for your Kindle book largely depends on what you are publishing and how you intend to use the book. If you want lots of buyers, then you need to price low. If you have a common book, then the $2.99 to $9.99 field is perfect. Just check the market and see what similar books are selling for to get a picture of what your book should go for.