One of the most controversial subjects with self published authors these days has to do with profit. Some writers prefer to offer their books for free, but not all of them do. For many of us, our writing is our livelihood. We need some kind of compensation, even if it isn’t much. Besides, the low overhead of creating an ebook provides a perfect opportunity to come out on top with less effort than a physical book would require.
But how do you come up with the right price for your masterpiece? Is it necessary to charge pennies on the dollar for something you put your heart and soul into? What is the proper compensation for the time and energy you put into the work?
How it should be
It doesn’t matter whether you have physically printed a book or not. For you as the author, the amount of work you have put in has been the same. Perhaps even more so, because you are not being provided with the resources of an agency to handle things like editing, promotion, etc. Not to mention, you aren’t seeing a dime up front like you would in an advance from a publishing house interested in offering you a contract.
Keeping that in mind, you would ideally be making at least as much as you would from a physical book. A new release, especially a popular one, can be anywhere from $10 – $30, depending on the cover type, and the weight behind your name. A new writer would expect to get at least $10 a pop for their book in the first months of its release.
This probably won’t happen. There are just too many people out there publishing their ebooks, and unless you have an established name they will recognize, people aren’t going to spend much to read what you have to say.
But that doesn’t mean you have to sell your work for $0.99. Most readers are going to be willing to spend a couple of bucks on a book they are interested in reading. $2.99 – $4.99 (keeping the three-digit psychology in mind) are common prices to see, especially on sites like Amazon.
So, what should I charge?
Honestly? Whatever you want. Only you know how much time and energy you put into your book. You know what it is worth, and what you need to make. You should find a good balance between those two points, and try to be realistic without going bankrupt. Some possible tips to get you inspired:
- Forbes article by Jeremy Greenfield says the average price of a best-selling ebook seems to have stabilized around $8.00 and consumers hate paying anything more than $10
- They say, that Barnes & Noble offer a higher cut to authors who price between $2.99 & 12.99
- Searching Amazon for eBooks on a similar topic would give you a good understanding of the price range.
Remember that the more you write, the more you can potentially charge (and sell). You will have fans, people coming back for more, and you will start to make a name for yourself. The first time around might require a sacrifice, which means a lower amount. But as time goes on, you should be able to boost up that price tag.
To close, let me list a few actionable tips to promote your eBook:
- Publishing And Promoting Your Ebook
- Here are all some channels for selling an Ebook
- Here’s how to promote an eBook on Twitter
- Here’s another eBook marketing campaign tip
How are you pricing your eBooks? Please let us know!
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