I did a little experiment in the autumn of last year after reading an article about pricing e-books on Amazon. The article stated that to achieve increased sales my Kindle novels should be at the optimum price of $2.99 ( about £1.99). At that time they were all priced at $1.99 (about £1.37). Therefore with thoughts of that all-important orange flag waving about in my mind, I quickly decided to ramp up the price of all my novels on Kindle Unlimited to this magical figure of $2.99 to see what happened. It seemed the sensible thing to do, as authors also gained 70% royalties instead of 35%.
Sales up to August had been pretty good for me, but once the experiment kicked in at the beginning of September my sales figures fell away quicker than a rat down a drainpipe. The little red dot kept hitting the bottom of the graph, whereas before it hardly ever did. However, I carried on regardless through Christmas and into February, only giving up in the middle of February when it was obvious that the increased prices were doing more harm than good. Fortunately, sales are picking up again now that I’ve lowered the majority of my books to the prices they were before, and the little red dot has only hit the bottom of the graph once so far this month.
The result of the experiment was sadly that the increased charges did not work for me, because as far as I can tell I had probably priced myself out of the market.
F.W Woolworth’s motto was ‘pile it high and sell it cheap’. It worked for him for a considerable number of years, and so I’m frantically scribbling away creating books to add to the pile. I’m even making ‘The Daughter-in-law Syndrome’ free from March 27th – March 31st, and you can’t get any cheaper than that! Funnily enough, when ‘The Pilates Class’ was free for a week in February there were 1087 downloads, but……interestingly enough sales of this book have risen quite a bit since the freebie week. Is that due to marketing at the time, the lower price now, or a bit of both? All I do know is that I’m sticking with $1.99 (apart from ‘A House Without Windows’ which I’m leaving at $2.99) – it seems to work well for me.
What do you find is the best price for your e-books?