The $0.99 Book Price -- Is it Making or Breaking You?

Hi everyone,

I hear that this is a "hot topic" these days as the publishing world is being turned on its ear by self-published authors that grew tired of waiting for the ultimate "yes" letter. I don't blame you and for those of you still waiting for your letter...STOP.

Self-publishing is easy and fairly inexpensive so why wait to get your work out to the masses? There may be a couple of reasons such as a) deciding on where you want to market your work b) deciding on the cover art and c) probably the most important decision you will need to make ---- what will you price your book at?

I know from speaking with a friend of mine, that is an author and has a book available on Amazon for $0.99, that there are definitely two ways of looking at book pricing. This author is in favor of the pricing whereas I'm somewhat opposed to it. So, I thought I would do an entry on this subject and see what the masses think :-)

IN FAVOR OF THE $0.99 BOOK PRICE:

• Affordable -- less than a cup of coffee
• It may make someone who doesn't know you or your writing more likely to give your book a chance
• It may lead to mass sales due to lower price as opposed to fewer sales at a higher price

OPPOSED TO THE $0.99 BOOK PRICE:

• May be viewed as "garbage reading" the kind of reading that you find in the bargain bin at the bookstore
• You are branding yourself, as well as your work and you are a professional author -- when is the last time you seen a book by James Patterson for $0.99?
• A slightly higher price will make up for the possibility that the masses won't buy if your book is priced above $0.99

I KNOW there are many more points of view on this subject (based on what I've been reading) both for and against this pricing model -- PLEASE LEAVE A COMMENT and let me know why you are "for" or "against" and why :-) 

Oh, and please, please don't think that I'm judging because I'm not. Just a hot topic that provides food for fodder.

(BTW, when did they get rid of the cents symbol?)

Have a great day everyone!

Becky

Guest Blogger ~ Mark Stone on Amazon Rules Re: $0 Kindle Pricing

Amazon Takes $0 Kindle Pricing out of the Hands of the Author

By Mark Stone

There is no doubt that with the advent of the digital age, the publishing industry faces its greatest dilemma yet. And, thanks to the Kindle from Amazon and to the late, great Steve Jobs, they are scrambling like madmen to repair the shrinking book market. I mean, who wants to lug around 1500 books when moving when all you need to do is pack your digital reader or tablet?

The literary world is in the middle of its greatest paradigm change since Gutenburg used the very first printing press, putting thousands of scriveners out of business. This is not a bad thing, change is inevitable, even necessary to promote growth and enhance our lives. One of the biggest changes, and seemingly far outpacing all the new digital gadgets that hit the market every few days, is the world of self-publishing.

Amazon has provided a platform for John and Jane Q. Public to write, edit, publish and market their own creativity and achieve the literary recognition. Okay, maybe recognition is a bit much, but now anyone can publish an e-book and actually have a chance to reap some greenbacks for the effort.

Which brings me to the point of this article…marketing of self-published books. Yes, there are some very good self-published works out there, and a whole heap of crap that stink up the site. So, with literally millions of e-books to choose from, what’s an author to do?

Price it right. There are a TON of $.99 books on Amazon. Enough that you’d have reading material for the next decade! Then some bright penny out there decided to price a book at $0 in an effort to become noticed. Hey, if a person enjoyed their book at $0, maybe they would be willing to shell out $3-4 for a second from the same author, right?

Right. Overall, it is an effective campaign strategy that has worked well…for the author. But what about Amazon.com?

I know, I know…you’re saying "Amazon is HUGE, it makes a metric ton of money, why should they make more? They should be helping the writers out."

Understood, however Amazon is a business, and like most businesses, is out to make money. They provide the publication service (via CreateSpace) and virtual bookshelves. If we as authors use their sites, it is not unreasonable for the provider of said bookshelves to ask for their cut, even if it is only pennies on the dollar.  They didn’t have to be a vendor of e-books, but they are and as a vendor they are allowed to asked for a fair cut of the profits.

In other words, try toddling off to the local Barnes & Noble with a boxful of your books and ask them to stock their shelves with your product, but take no profit from doing so because you want to give them away. How fast will you be laughed out of the store? I think it would break the sound barrier.

Does that mean Amazon should never have free books. I don’t think so. A case-by-case basis should be made for multi-published authors to dole out one free book as a lure to purchase their others. Since customers are always looking for the deal (as am I. There are quire a few free books on my Kindle), the multi-published author can get his/her name out there, perhaps garner a fan base. It not only makes sense, it is a good business model.

Now, for those authors who have not self-published more than one book, sorry, it is my opinion and it is Amazon’s call. If you think they are taking unfair advantage, you could always stay with Smashwords and other e-vendors who would be willing to give your work away for free.