We’ve cussed and discussed Ebook Price Points a bunch here on The WG2E. From going FREE with an Ebook (The First One is On Me strategy and Ridin’ The Free-Way) to the 99 Cent Price Point to Boxed Set pricing and beyond. (***Note: If you’re new to The WG2E, you can search for any of those key terms on our site and pull up a variety of posts on each strategy.)
Now then…after just releasing my 29th product in my Indie Epublishing, multi-media empire – Cozy Cash Mysteries Boxed Set #1 (9 books for just $4.99), let’s take a look at Ebook Price Points from a new angle.
What can happen to your income using a variety of Ebook Price Points?
Here’s my pricing breakdown:
1 – FREE Ebook (my debut release – Bootscootin’ Blahniks – is FREE on all platforms all the time, since September 2011…I call it my First One is On Me strategy)
13 – 99 Cent Ebooks
3 – $1.99
8 – $2.99
1 – $4.99
3 – Audio Books (from $13.96 – $24.95…prices set by Audible)
With this pricing point variety, I’m not only pulling in an average of $5,000 per month (some months three times that, others a little under that), I’m also continuously attracting new readers – approximately 5,000+ new readers per month.
Here are my theories as to why Ebook Price Point Variation works:
1. Using my FREE Ebook, I gain around 5,000 new readers per month. That’s the number of people who download just that one book each month. And, most readers new to my D. D. Scott-ville world begin with the book that started it all for me and introduces many of the characters who are still going strong in my 29th release.
2. Once I’ve hooked those new readers with that First One is On Me strategy, I make it a Snickers Bar price point (or the price of a cup of coffee at McDonalds) to keep on reading my books with all of my 99 Cent Ebooks. (***Note: The 99 Cent price point keeps most of my books high up in the sales rank algorithms on most platforms because that price point still moves a ton of Ebooks/downloads. It’s still great for visibility as are my $1.99 titles.)
3. I price my non-fiction, on-writing books at $2.99, which is still about half the price of what most peeps charge for Indie Epublished non-fiction and waaay under Tradipub non-fiction prices of $9.99 and up.
4. I’ve done 3 Boxed Sets now, treating my readers to another huge price break if they go right from my First One is On Me to the complete set of any series. My Boxed Sets are priced between $2.99 and $4.99, for between 4 books and 9 books. (***Note: Boxed Sets are my museum gem quality fortune makers – averaging between $100-$200 per day.)
Basically, what you want to try and do is balance your price points so that you’re getting both great visibility (which the lower prices and the bargain priced Boxed Sets give you) and great income (each price point at $2.99 or above gets you the 70% royalty versus the 35%).
There you have it…Using a Variety of Price Points to Build an Indie Epublishing Empire that can give you a fabulous yearly income!!!
Share with us your thoughts on my pricing strategy as well as let us know what you’re doing to use Ebook Price Points to balance out both Visibility and Income…
The Best of Ebook Pricing Strategy Wishes — D. D. Scott
D. D. Scott is an Amazon and Barnes and Noble Top 100 Bestselling Romantic Comedy and Humorous Mystery Author. She’s also a Writer’s Go-To-Gal for Muse Therapy and Indie Epublishing, the Co-Founder of The WG2E- The Writer’s Guide to E-Publishing, and the Founder of The RG2E – The Reader’s Guide to E-publishing. You can get all the scoop on her, her books, her Online Classes and Live Workshops, plus juicy tidbits too from her new cyber home…D. D. Scott-ville.