Increasing eBook sales: Is the Price always Right?

The weather was perfect here in DFW Texas today, so for this Feel Good Fantastic Friday, or “things that make you go hmmm” Friday, or free for all Friday, I had a thought bouncing through my grande cabesa (at 7 5/8, it really is big): In real estate, it’s “location, location, location.” In eBook sales, could it be, “price, price, price?”

I don’t really know how, but I’m on the Digital Book World email list and I’m kinda glad it happened. They seem to have everything anyone could ever want to know about eBooks, including this humdinger of a sales analysis on Vince Flynn’s latest, American Assassin.

From the graph included in the DBW analysis, you’ll see that the ebook, which was first offered at $12.99, slowly dropped down the bestseller list, but got quite a bump when he dropped the price to $8.99. Then sales dropped almost off the map when they shot the price back up to $14.99.

But it’s not just the example here that shows Flynn had a bump in sales when he put AA on a “fire sale.” Consider the self-publishing darling Amanda Hocking, who priced her novels between $0.99 and $1.99 and sold 900,000 copies in a month! Yes, that’s not a typo. And, she sold 400,000 more the next month. Oy Vey!

So, that begs the question, how important is setting a low sales price to your eBook sales?

To the keyboards!

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Mark Fadden is a freelance writer and author. Bestselling author Sandra Brown recently had this to say about Mark’s latest novel, The Brink: “[The Brink] is a hell of a read. The chemistry between [the main characters] Danny and Sydney is terrific. The action sequences were heart-pounding!” Check out The Brink and Mark’s other books at www.markfadden.com.

And speaking of reasonably priced eBooks, The Brink is now available as an eBook for Amazon.com Kindle  and Barnes & Noble nook for only $2.99!

Do ebooks make it all about price, price, price?

 

It’s Writing Wednesday and I have only one question – does Amanda Hocking hold the key to how the publishing world may survive?

For those that don’t know who Hocking is, she is the self-publishing “phenom” that sold 450,000 of her self-published book in January. Yes, I wrote self-published. Yes, 450,000 copies. Yes, is one month.

How, you ask? She’s writing in a popular genre – she described her work as ” young adult paranormal romance and urban fantasy mostly.”  But I think it’s mostly about the price.  The ebook sell for 99 cents to $2.99. Hocking’s cut of the $2.99 book is 70%; 30% of the 99-cent books. Even if most books sell for $.99, she’s already made a half a million this year. Not bad. Plus, rumor has it the traditional publishers are circling, and dangling $1 million on their hooks. Not bad at all.

So, is it mostly about price? The ebook version of my latest book, The Brink, is $7.99. And I’ve sold nowhere near the number of copies Hocking has. As Snoop Dogg says, should I “drop it like it’s hot?” I think I will. I mean, what’s the downside? Should you? That’s for you to decide. But just remember this, people are more apt to buy when they think they’re getting a good deal. One only needs to look at the success of Groupon to see that truism. Sometimes a quarter pounder is just another burger at $3.19. But at $0.99 it’s a hell of a deal, especially when you’re jonesing for a pretty good burger and you’ve only got a buck in your pocket.

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Mark Fadden is a freelance writer and award-winning author of Five Days in Dallas and The Brink. Check out his novels at www.markfadden.com