Part of being an entrepreneurial author, indie author, self-publishing author, etc, is that I make my prices and have to watch my supply and demand. I have to experiment with marketing and production and everything else. My primary product right now is Haunting Miss Trentwood, the eBook version. It’s the one that’s selling and the one I’ve made any attempt at marketing. I’m rewriting Catching the Rose and I’m working on my anthology, Love or Lack Thereof, so there is no point playing around with those books right now.
Last Tuesday (Jan 18), I changed the price of Haunting Miss Trentwood from $2.99 to $3.99 for a couple of reasons.
- I believe it is worth that price.
- It has gotten good reviews that make me think others believe the same.
- Honestly, it’s my best (and sometimes only) selling product.
- I’m interested to know the perfect pricing for supply vs demand.
- I have no idea what the perfect price point is for my books.
I know pricing down is not what I want to do. Pricing up is something I’m interested in testing simply because I’m curious to know what a dollar more will do to sales and interest. I know customers can assume that a cheap eBook means it’s cheap in terms of more than just finances.
I know other authors have experimented a bit more… Right after I made the decision to change the price, I read John’s post about experimenting with his prices. He’s going higher than me, but he also has a larger following. Will my pricing ensure a larger following? Not sure. But I’ve had Haunting Miss Trentwood at $2.99 since October 16, 2010 for two months. I’m willing to try $3.99 for the next two months and see what happens.
I began with $2.99 because multiple authors say that’s the sweet spot. But I’m just not seeing the sales. Thinking changing the price will do something about that?
All the best,