Back in January – mid-January to be exact – I posted about the changes to the pricing structure of my novels. I figured I’d update everyone and give all of you indie authors out there an idea if the pricing structure is working or not. The final analysis? Yes, it’s working. Working well, I might add.
The original price of the books in my Black Earth series in digital format were $2.99 for End of the Innocence (book1) and $4.99 for The Broken Daisy (book2). I dropped these prices in mid-January to 99 cents for End of the Innocence and $2.99 for The Broken Daisy.
Before my January price changes, here were my sales figures (these figures are sales through the Kindle, seeing how I’m making most of my sales on the Kindle at the moment) -
December 2010 – US Kindle Sales = 7
November 2010 – US Kindle Sales = 3
October 2010 – US Kindle Sales = 1 UK Kindle Sales = 1
After my price changes, here are my numbers for 2011 so far -
January 2011 – US Kindle Sales = 30 UK Kindle Sales = 8
February 2011 – US Kindle Sales = 55 UK Kindle Sales = 2
March 2011 (so far) – US Kindle Sales = 41 UK Kindle Sales = 1
When looking at these numbers, please take into consideration that I’ve also upped my marketing efforts a bit. I spend a decent amount of time in the Kindle Boards, both promoting my books and helping other authors promote theirs. I’ve become a bit more accustomed to Twitter, thanks to a huge Twitter series that Kristen Lamb has been blogging about. I’ve also been emailing and opening conversations with blog reviewers, especially ones who are kind enough to take the time to review indie authors. Check out Scott’s reviews at Indie Book Blog, and the mammoth list of reviewers at Step-by-Step Self-Publishing for examples of who I’ve been reaching out to for reviews.
In the last few months, I’ve seen some statements made about how some think an author pricing their book at 99 cents is foolish because of all the blood and toil put into writing/editing/publishing a book. While I agree it is hard work getting a decent book off the ground, I don’t have an issue pricing the first book in my sci-fi/fantasy series at such a low price if it means I am building a fan base for the series as a whole and gaining new fans of my work.
In other words, it can’t always be about the money.
I know, I know. Many of you would argue that if it’s not putting food on the table, what’s the point, right? I understand your point of view, but you need to look at the bigger picture. Gaining exposure is like rolling a snowball down a hill. It has to gain momentum, has to gain followers, has to gain some spotlight before it will get bigger. As much as I need the money right now – and God knows I need the money – my focus needs to be on growing my audience. The more readers that have my book in their hands, the greater my chances of reviews, of blog/Twitter/Facebook mentions, of more sales.
Even though I lowered the prices of my paperback novels, I haven’t noticed much of a change with their sales. And that’s okay, because I’m focusing more of my marketing strategy toward ebooks at the moment. Digital ereaders aren’t just the ‘new craze’. They are portable, convenient, and somewhat affordable. Meaning they are going to continue to be bought up. And with them, readers will want to be packing their digital data banks with countless books. Affordable books.
See, if a reader hasn’t heard of me before, 99 cents is an easy risk to take on a new author. And if they like the first book in my series, it’s an easy decision for them to spend only $2.99 on the next book. And if I can keep the books in the series rolling out in a decent time frame, my readers will continue to buy into the series, gaining me both a lifelong fan and someone who will hopefully spread the word about my novels.
I’ll be continuing my pricing structure when my young adult novel series debuts this summer with Endangered Memories. It will be made available in ebook format for 99 cents, to get everyone into the series. From there, subsequent books in the series will be priced at $2.99. (Of course, all the novels will also be available in paperback for a nominal price.)
(Photo credit – kamshots)
Lindsay said on March 30, 2011
Congrats on your success! I write fantasy too.
My novels are doing okay at $2.99 a piece, but I’m definitely going to try doing Book 1 for $0.99 once I have a Book 2 for folks to go on and try. I’d even consider giving 1 away for free if I had a whole series out. Better get busy writing!
David N. Alderman said on April 7, 2011
Lindsay, I’ll give digital copies of my books away for free every once in a while just to garner some new fans and bring attention to my series. I think that’s a great idea!
Ron Fritsch said on March 30, 2011
David, I’m grateful for your information. I think the way you describe the independent publishing world is the way it is. You have to give up a lot in the short run ever to achieve anything in the long run. David and Lindsay, I agree with your strategies. You want to make the reader, even a catch-up reader, feel welcome to your world, and you’ll do whatever you can to tempt that individual to enter it. That happens to be my strategy, too.
David N. Alderman said on April 7, 2011
Anytime, Ron. I think this whole indie-publishing thing is still a learning experience for many of us. Any info we can all share with each other is invaluable, in my opinion.
Anthony StClair said on April 6, 2011
This is interesting. Since you both lowered prices and modified your marketing though, will you be doing any tests to see what happens with different marketing and price points?
David N. Alderman said on April 7, 2011
Anthony, I might very well do that in the near future. For now, the prices I have my books at are doing well, so I’ll keep them there until I can get these other three novels done that I am currently working on.
I know I have read other author’s testimonies in regards to their pricing experiments, and I’ve seen their sales go straight down as soon as they go from 99 cents to say $2.99, but after sticking with that for a few months, I’ve heard some author’s sales end up moving back up. It’s a fascinating experiment to try out, and with self-publishing leaving us authors in control of our prices and content, we can try out many different ways to find what works the best.
Anthony StClair said on April 10, 2011
There’s defo been a lot of different experiences with the 99 cent pricing. I recently read a piece where the author tried a 99 cent test, and his sales decreased, then went back up once he went back to $2.99.
Wondering if the sweet spot is $0.99 for short pieces/compilations of short pieces, and $2.99-$4.99 for book-length works?
David N. Alderman said on April 12, 2011
Anthony, I think 99 cents is great for shorter pieces. I have a novella out that I priced at 99 cents, although I’m not selling as many as I am of my 99 cent novel. The great thing about digital self-publishing is that we as authors can change the prices whenever we want and experiment to see what works.
Stephen Graff said on September 6, 2011
So many great ideas out here on the web. I’m also new to this–though I’m a longtime writer. But self-publishing and self-promotion (and I think that writers are generally not the best at promoting themselves, which is why established writers seek out agents) is an art that I’ve come to appreciate.