What Price should I make my ebook? ‘Evil Genius’ has a great graph.

I have agonised a bit, googled it, and found this lovely graph – based on one popular author’s experiments with pricing:

I’m attaching to this post some graphs I generated. I did this early in 2010, based on then recent data that J. A. Konrath had posted to his blog. He’s a decent test bed for these numbers, as he had a number of ebooks out, some self-published and some published by a major publisher. These were priced all over the board. At the time, he was pricing his self-published books at $1.99, and the major publisher books were as high as the $8 vicinity. The commonality here is that none of them were getting much of a promotional push. There was no book tour, no advertising campaign so these numbers should be a realistic look at how price affects unit sales. It must be noted that I dropped two data points. He had two self-published books at $1.99 that sold so anamolously well that they blew out the chart. I dropped data to make the curve fit but the data I dropped would have biased this even farther to the low end of the curve. At the time, even Joe had no real explanation for why those books sold so well. He has since raised his price to $2.99 which is the same conclusion my data would lead you to. He’s a savvy cat, I’m guessing that sometime between then and now he also ran these numbers and raised his prices accordingly. (Update: yes, he did raise prices based on his observation of data.)

Konrath Data Ebook Revenue Curve
Read the whole article here (this guy ‘Evil Genius is an analytical hard-core!)
So, my advice is, for a single book, especially if it isn’t an in-demand non-fiction one full of indispensible info that will save,or make,  the reader a fortune, go for that $2.99-$3.99 price point, IF you are wanting to maximise income immediately. However, we need to watch how the market moves, and be ready to jump… AND, for a series, it makes great sense to go 99 cents or free at least for a while to build a readership – after all it is FREE ADVERTISING! So don’t think of it as losing money, think of it as getting something very very valuable for no outlay: EXPOSURE. Even then, on the web no one knows you are there – you are a needle in a haystack until there’s a link or a tweet or some flag that says ‘look at this needle I’ve found in the haystack!’ That’s the million dollar question: WHO is going to do that for you?
But when they do, let’s make it no obstacle for those they tell, to buy your ebook on impulse. Then if they love it, and tell a few others… wow!
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