Let’s talk about money…
One of the key benefits of self-publishing an ebook is that the reduced production and distribution costs allow for a higher profit margin. However, keep in mind that the low overhead costs are also reflected in the price a customer will expect to pay for an ebook versus a printed book.
The best place to start when deciding on the price of your book is looking at what similar books are being sold at with the retailers you wish to use. This will give you a good idea of where you should be aiming, but there are a few other things to consider.
First, where you are selling your ebook. For example, the royalties you receive from selling your book on Amazon vary depending on the price of your book. Between $2.99 and $9.99 you’ll keep 70%. Above or below this bracket your royalties are reduced to 35%. That gives you a rough starting point. But what if you’re selling through Blurb, where you keep 100% of your royalties? Then how do you decide?
Your ebook’s length is the first thing to consider. For short stories, say between 1,000-5,000 words, readers won’t expect to pay much above $0.99. Longer novellas tend to sell at between $2.99 and $5.99. And for a novel, between $2.99 and $7.99 would be about right.
The genre of your ebook also has an impact on price point. Generally, romance, sci-fi and fantasy books tend to sell for less than literary fiction or non-fiction books.
Remember nothing is set in stone and your pricing strategy is flexible. You can adjust your price point at any time in response to the level of demand for your book or changes in the wider market.
Now get to work!