How to Price Your E-Book

You've written and ?ompiled an ?book. Now you hav? to decide how much t? charge f?r it. Finding t?e ?ight ?rice is essential to the succes? of your product. If you charge too little, people will th?nk it's ?f little valu?, and they won't purchase ?t, o? even ?t they d? ?uy you? bo?k, you will have to sell thousands of copies to get t? the point where yo? can begin to see ? profit. If yo? price it too h?gh when compared with your competition, you will find y?urself steadily lowering the pr?ce, which will cause you all kinds of n?w pr?blems ?n the future. For example, if you ?ell your ebook at fi?st for $39.99, and later reduce it to $24.95, don't you th?nk the people who bought it for $39.99 are going to be PISSED?

Choosing the right price for yo?r ebook is one ?f the most critical ?arts of the marketing proces?. The first rule of pricing e-boo?s is to n?ver und?r price. Determine the highest pri?e your audi?nce can afford, and then if ?ou find your boo? isn’t selling, you can always reduce the pric?. B?fore you take that step, make sure yo? a?e promoting your ?ook like crazy on the Int?rnet and on webs?tes. T?e pr?ce should ?e a?med at b?inging in profits, but y?u should neve? forget that price ?s one of t?e factors t?at peopl? use ?n j?dging the value ?f your ebook before they ?uy it. So always start with the highest price, and then launch ? mega-marketing campaign.

Pricing an ebo?k ?s particularly difficult be?ause E-books are a fairly n?w commodit?. Since they are digital, t?e value ?f ?n e?ook is as confusing as the understanding of w?at digital actually is to the average laypers?n. This means that ?e must look at e-books in a diffe?ent light in orde? to determine their actual wo?th in this ?rave, new cyber world.

Let's look at the difference between ? ?ook in print and an ebook. A printed book is ?n object yo? can hold in you? hand, store on your bookshelf, e?en ?and down to the next generation. It is pri?ed on factors such as paper stock, design and production costs, and marketing.

But the fa?t t?at unites e-books and ?rint books is that they a?e composed ?f ideas. It i? t?e ideas ?n th?se books that have the ability to change, or possibly transform, people's lives.

What do you think an idea is worth ?hen evaluated against t?e cost of paper and ink?

It i? the IDEAS that a?e valuable! That is how you determine th? co?t of your ebook.

What ?hould I charge for ?y ideas?

There are all different formulas and methods for determining the correct price for yo?r ebook. Let's begin with honing ?n 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 busine?s or s?rvice, or to establi?hing the credibility of your r?putation. If thi? is your main goal, you should aim to keep your price on t?e low side. Some authors have even priced their e-books at ? profit loss to draw a high number ?f new ?ustomers. Th? key ?s to find a price that maximizes y?ur profit? and t?e numbe? ?f books you sell.

This i? an excellent pricing strategy ?f ?ou are looking to acquire long-term ?ustomers. Long-term cust?mers a?e extremely likely to buy fro? y?u again and again as long as the first ebook they buy is of exceptional quality and b?neficial to the customer.

However, ?f your book c?ntains valua?le and more importantly NEW information, references, o? techniques t?en yo? should aim to p?ice it on the high end.

After you figure out your goal, you must figure out what your audience's need is for your ebook. F?r example, doe? yo?r book sol?e a particular problem? If it d?es, and solves it in ? way that hasn't been written about in on? hundred ?ther e-books, you will ?e ?ble to achieve h?gh sales at ? high pr?ce. If your book solve? ? pro?lem or answers que?tions in a ne? and unique ?ay, you should price your book ?s high as you can go. You w?ll achie?e larg?r profits this way, but bring in fewer customers. Just m?ke sure the question or problem that your bo?k solves is one that is important ?nd relevant to the majority ?f ?our market audience. If you? ide?s ?re not common knowledge, o? you ar? presenting a brand new technique, you will be able to ?ell books ?t a high pric?. Just be prepared for you? ?ompetition to undercut you on price a? soon a? t?ey hear about ?our book.

Keep in mind that the above pricing strategy is temporary. Eventually, ?ou will cease to sell books at th?s hig? price. So figure out in advance ho? long you plan to ?ffer you? ebook at this high price, and wh?n that tim? ?s up, change ?our pricing strategy.

If ?ou want to s?e large profits over customer draw, aim f?r ?n audi?nce th?t is l?oking for ea?y soluti?ns t? their problems at ? low price. If your boo? is aimed at solving one particular problem rather than general advice, then ?ou can charge mo?e. Start ?t the ?ighest pri?e the market will bear to bring in the largest profits, and pl?n to disc?unt t?e bo?k a number of times throughout th? year.

Marketing Strategies

The ?ey that unlocks the sal?s potential of your ebook is t? find a single sentence that be?omes y?ur selling handle. This s?ntence ?tates what question or problem your bo?k answer? ?nd the benefits you? ebook can provid?. Then be sure to u?e that sentence in every piece of sales and promotional material, and e?ery time anyone ?sks you about your ebook.

Besides promoting your books assiduously online, there are several other str?tegies that can help ?ou s?ll ?ore books.

One is to give somet?ing away f?ee with your book, such ?s a valuable bonu? item. Or bundle several e-books under one price, whi?h lowers the price for e?ch eb?ok if they we?e s?ld separately.

An effective technique for figuring out ? pric? is to send out a survey t? your current customers. If t?ese customers hav? already b?ught an ebook from ?ou, ask for their opinion in terms of price. D? this by creating a sales page f?r the new book, but don't include a price on that page. Instead, add a number of link? to survey question? th?t ask p?inted questions to aid y?u ?n a?signing a p?ice to y?ur ebook.

Another strategy i? to test out prices by creating a number ?f duplicate sales pages with different prices on each page. Make s?re your sales c?py is exactly the sam? ?n every page, and includes your selling-?andle sentence. Then figure out for e?ch page the conve?sion ratio between visitors to ?our site and sale? of your b?ok. This will tell ?ou what your optimum price is.

Ultimately, if you've written a book that solves ? pr?blem or presents a new technique, your book will bring in ?oth traffic and profits. So be sure to write that selling-handl? sentence that ?ums up what problem your bo?k ?olves and what t?e ?enefits of your boo? will be to the customers wh? purchase it. And then wat?h your market c?me to y?u

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How to Price Your E-Book

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