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How to Price Your eBook

You've written and compiled an ebook. Now you have to
decide how much to charge for it. Finding the right
price is essential to the success of your product. If
you charge too little, people will think it's of
little value, and they won't purchase it, or even it
they do buy your book, you will have to sell thousands
of copies to get to the point where you can begin to
see a profit. If you price it too high when compared
with your competition, you will find yourself steadily
lowering the price, which will cause you all kinds of
new problems in the future. For example, if you sell
your ebook at first for $39.99, and later reduce it to
$24.95, don't you think the people who bought it for
$39.99 are going to be PISSED?

Choosing the right price for your ebook is one of the
most critical parts of the marketing process. The
first rule of pricing ebooks is to never underprice.
Determine the highest price your audience can afford,
and then if you find your book isn?t selling, you can
always reduce the price. Before you take that step,
make sure you are promoting your book like crazy on
the Internet and on websites. The price should be
aimed at bringing in profits, but you should never
forget that price is one of the factors that people
use in judging the value of your ebook ? before they
buy it. So always start with the highest price, and
then launch a mega-marketing campaign.

Pricing an ebook is particularly difficult because
ebooks are a fairly new commodity. Since they are
digital, the value of an ebook is as confusing as the
understanding of what digital actually is to the
average layperson. This means that we must look at
ebooks in a different light in order to determine
their actual worth in this brave, new cyber world.

Let's look at the difference between a book in print
and an ebook. A printed book is an object you can hold
in your hand, store on your bookshelf, even hand down
to the next generation. It is priced on factors such
as paper stock, design and production costs, and
marketing.

But the fact that unites ebooks and print books is
that they are composed of ideas. It is the ideas in
these books that have the ability to change, or
possibly transform, people's lives.

What do you think an idea is worth when evaluated
against the cost of paper and ink?

It is the IDEAS that are valuable! That is how you
determine the cost of your ebook.

What should I charge for my ideas?

There are all different formulas and methods for
determining the correct price for your ebook. Let's
begin with honing in on your ultimate goals.

Decide if your goal is to get wide distribution and
maximum exposure. This goal is aimed at drawing
customers to your business or service, or to
establishing the credibility of your reputation. If
this is your main goal, you should aim to keep your
price on the low side. Some authors have even priced
their ebooks at a profit loss to draw a high number of
new customers. The key is to find a price that
maximizes your profits and the number of books you
sell.

This is an excellent pricing strategy if you are
looking to acquire long-term customers. Long-term
customers are extremely likely to buy from you again
and again ? as long as the first ebook they buy is of
exceptional quality and beneficial to the customer.

However, if your book contains valuable ? and more
importantly NEW information, references, or techniques
? then you should aim to price it on the high end.

After you figure out your goal, you must figure out
what your audience's need is for your ebook. For
example, does your book solve a


particular problem? If
it does, and solves it in a way that hasn't been
written about in one hundred other ebooks, you will be
able to achieve high sales at a high price. If your
book solves a problem or answers questions in a new
and unique way, you should price your book as high as
you can go. You will achieve larger profits this way,
but bring in fewer customers. Just make sure the
question or problem that your book solves is one that
is important and relevant to the majority of your
market audience. If your ideas are not common
knowledge, or you are presenting a brand new
technique, you will be able to sell books at a high
price. Just be prepared for your competition to
undercut you on price as soon as they hear about your
book.

Keep in mind that the above pricing strategy is
temporary. Eventually, you will cease to sell books at
this high price. So figure out in advance how long you
plan to offer your ebook at this high price, and when
that time is up, change your pricing strategy.

If you want to see large profits over customer draw,
aim for an audience that is looking for easy solutions
to their problems at a low price. If your book is
aimed at solving one particular problem rather than
general advice, then you can charge more. Start at the
highest price the market will bear to bring in the
largest profits, and plan to discount the book a
number of times throughout the year.

Marketing Strategies

The key that unlocks the sales potential of your ebook
is to find a single sentence that becomes your selling
handle. This sentence states what question or problem
your book answers and the benefits your ebook can
provide. Then be sure to use that sentence in every
piece of sales and promotional material, and every
time anyone asks you about your ebook.

Besides promoting your books assiduously online, there
are several other strategies that can help you sell
more books.

One is to give something away for free with your book,
such as a valuable bonus item. Or bundle several
ebooks under one price, which lowers the price for
each ebook if they were sold separately.

An effective technique for figuring out a price is to
send out a survey to your current customers. If these
customers have already bought an ebook from you, ask
for their opinion in terms of price. Do this by
creating a sales page for the new book, but don't
include a price on that page. Instead, add a number of
links to survey questions that ask pointed questions
to aid you in assigning a price to your ebook.

Another strategy is to test out prices by creating a
number of duplicate sales pages with different prices
on each page. Make sure your sales copy is exactly the
same on every page, and includes your selling-handle
sentence. Then figure out for each page the conversion
ratio between visitors to your site and sales of your
book. This will tell you what your optimum price is.

Ultimately, if you've written a book that solves a
problem or presents a new technique, your book will
bring in both traffic and profits. So be sure to write
that selling-handle sentence that sums up what problem
your book solves and what the benefits of your book
will be to the customers who purchase it. And then
watch your market come to you!

About the author:
Zaak O'Conan discovers and presents information
on to enhance your site, newsletter, marketing and other
Internet related topics. You'll find his other articles that
expand your horizons at http://WebWorkersWeekly.com



 

Book marketing and book promotion advice from John Kremer, author ...
Promoting Your Books: Book marketing and book promotion tips for book authors, book publishers, self-publishing authors, POD authors, and e-book publishers ...
www.bookmarket.com
 
John Kremer's Book Marketing Tip of the Week
Archives of the weekly Book Marketing Tips of the Week and Internet Marketing Tips of the Week. Learn how to sell more books, tapes, and other products.
www.bookmarket.com
 
Bookmarketing Limited
and the consumer syndicated surveys adhoc commissions retainers how to subscribe client list expanding the market contact us · Book Marketing Society ...
www.bookmarketing.co.uk
 
Book Marketing Works
Book Marketing Maps - an electronic directory of special-sales buyers, customized to your particular title.
www.bookmarketingworks.com
 
Book Marketing Services, India
A specialist marketing consultants group, started in 1987 offering package of marketing and sale promotion services in the Indian market to publishers of ...
www.bookmarketing.org
 
Sensible Solutions: Book marketing for happily published authors ...
Sensible Solutions: Book marketing for happily published authors & publishers.
www.happilypublished.com
 
Book Marketing Profits
Smart Book Marketing. How to market your book or information product cost effectively through trade shows, mail order, the internet, premiums, book reviews, ...
www.bookmarketingprofits.com
 
Promote a Book - How to market your book online
Self Publishing How-To | Print on Demand Publishing | Offset Press Publishing | Getting Published | Book Marketing | E-mail Morris.
www.fonerbooks.com
 
Self Publishing Book Help. Book Promotion and Book Marketing Tips ...
How to Self Publish, Market and Sell Your Own Book. Self Publishing information, tips, and resources to show you how to sell hundreds of thousands of books ...
www.inktreemarketing.com
 
Writing-and-Speaking - Book-Marketing Ezine Articles
EzineArticles.com allows ezine or email list publishers to upload or download free expert content that can be used within email newsletters or websites.
ezinearticles.com
 
Book Marketing - High Quality Books & Gifts
Book Marketing - Direct sellers for High Quality Discount Books, CDs, DVD and Gifts.
www.bookmarketing.com.au
 
Amazon.com: Complete Guide to Book Marketing: Books: David Cole
Amazon.com: Complete Guide to Book Marketing: Books: David Cole by David Cole.
www.amazon.com
 
Amazon.com: A Simple Guide to Marketing Your Book: What an Author ...
This refreshingly succinct handbook is the easiest way to organize your book marketing campaign. Bobbie Hurst, Book Publicist ...
www.amazon.com
 
Sand Hill Book Marketing
Sand Hill Book Marketing. Distribution for Small Press & Independent Publishers. Browse Titles, Submit Titles, Find Retailers, Submit Retail Locations.
www.sandhillbooks.com
 
The independent bookstore on the web!
Although Francine Silverman’s Book Marketing from A-Z does not go into depth in each outlined promotion, the ideas and resources offered from more than 300 ...
www.bbotw.com
 
Author Resources: Book Marketing
Author Resources: Book Marketing ... AuthorHouse author and humor columnist Gordon Kirkland uses public appearances as a book marketing tool. ...
www.authorhouse.com
 
Substance Books Inc. - Online Book Publicity, Marketing & Book ...
Providing Web / Book Marketing Ideas & Promotional ... Receive Substance Books Inc.'s free BOOK-MARKETING NEWSLETTER designed for writers and publishers, ...
www.substancebooks.com
 
Publicity / Book Marketing / Bookstore / Ebooks
Publicity, book marketing, and publisher for self publishing books as well as excellent online bookstore.
www.virtualwordpublishing.com
 
Mega Book Marketing
Reserve your seat at MEGA Book Marketing University before 5pm PST January 5, 2007.and you get the home study version of last year's event for free (a $349 ...
www.megabookmarketing.com
 
Book Marketing Plan: Launch Your New Book Profitably and Confidently
Tame all your "Should I?'s" into "To-do's"! The Sample Book Marketing Plan is 24 pages and costs $95.00; it's in PDF (Adobe Acrobat Reader) format. ...
www.yudkin.com
 
 

 

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