The Greatest Way On How To Price Your E-books
When you think about pricing your ebook, what do you think of
first? Which aspects of pricing your ebook are important, which
are essential, and which ones can you take or leave?
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 dissatisfied?
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 highes 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.
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.
Now that we've covered those aspects of pricing your ebook,
let's turn to some of the other factors that you need to take
some time in considering.
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!
Now might be a good time to write down the main points covered
above. The act of putting it down on paper will help you
remember what's important about pricing your ebook for your
greatest profits .