Thursday, January 31, 2013

Counterintuitive pricing

It's been brought to my attention that there may be a demographic of readers who will not chance purchasing books they deem "cheap". Apparently the assumption goes that a book priced too low is priced this way because it is a bad book. The recommendation, therefore, was to bring the price of my book up from the 99 cents I had the eBook version listed for to a more "prestigious" price point.

As those of you who've kept up with my previous blog postings may recall, the reason I priced the book so low in the first place was because this isn't about the money now so much as it is about attracting readers and establishing an audience. I figured a well-priced book would entice readers who have never heard of me to give my book a chance. After all, what's 99 cents, right?

Well, if I'm missing out on potential readers because they think all 99 cent books are crap then those are potential audience members lost. So, for now I'm going to try a slight price increase to see if it affects sales. Considering my limited attempts at marketing so far the book has done modestly well at 99 cents. Time to see if the marketing gurus are correct. I'll give it a few weeks at $1.99 but if I don't see any bump in sales I'm going to go back to my original plan and list it at the 99 cent mark.

Transparency in action.