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Experimenting with Prices

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Offline Tim_A Reading strictly murder by Lynda Wilcox
26 Jun 2013, 06:59 PM | Post: #11

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RE: Experimenting with Prices

From my perspective it's too soon to start playing with prices - I'm still establishing a baseline. But simple maths says that if I drop from my current £2.50 price to 77p, slashing my royalty rate at the same time, I need to sell 7 1/2 times as many books to maintain the same level of income. And the sales numbers I see bandied about - 1 a day rising to 3 and so on, don't suggest that's likely.

Double your sales but halve your income doesn't make economic sense to me. But halve your sales while doubling your income does.
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Offline Jonathan Hill
26 Jun 2013, 07:03 PM | Post: #12

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RE: Experimenting with Prices

This post was last modified: 26 Jun 2013 07:04 PM by Jonathan Hill.
(26 Jun 2013 06:59 PM)Tim_A Wrote: Wrote:  From my perspective it's too soon to start playing with prices - I'm still establishing a baseline. But simple maths says that if I drop from my current £2.50 price to 77p, slashing my royalty rate at the same time, I need to sell 7 1/2 times as many books to maintain the same level of income. And the sales numbers I see bandied about - 1 a day rising to 3 and so on, don't suggest that's likely.

Double your sales but halve your income doesn't make economic sense to me. But halve your sales while doubling your income does.

Re the last bit, if you double your sales and halve your income it may not make economic sense immediately, but surely it might long term in terms of increasing your readership and fanbase for future releases?

Having said that, too many authors charge too little for their books (forced by competition) and consequently too many indie books are devalued.
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Offline Tim_A Reading strictly murder by Lynda Wilcox
26 Jun 2013, 07:51 PM | Post: #13

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RE: Experimenting with Prices

(26 Jun 2013 07:03 PM)Jonathan Hill Wrote: Wrote:  Re the last bit, if you double your sales and halve your income it may not make economic sense immediately, but surely it might long term in terms of increasing your readership and fanbase for future releases?

Having said that, too many authors charge too little for their books (forced by competition) and consequently too many indie books are devalued.
Maybe. But how could you ever prove it? There's certainly a lot of anecdotal evidence that freebies don't result in increased future sales, and I've heard that said about the bottom price points too.
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