Book Prices

I've been reading a lot of discussions about book pricing lately and like every other person out there, I have an opinion and a mouth, too (a different and perhaps more polite orifice than the one usually referenced in these kinds of statement, ha, ha). My opinion is that, like any other product you'd care to mention, pricing is in a constant state of flux.

So...what do I really think?
How to I decide on a pricing strategy if I independently publish (self-publish) my book?

I should state first that concerns about pricing doesn't show a lack of experience--even veteran authors who decide to self-publish their backlist have to go through the trauma of deciding on prices and periodically reviewing/revising them. It is a very real concern and no one--including publishers--have a really good handle on yet. Even big publishers are playing around with pricing and have different strategies depending upon author name, genre, etc.

For example, one well-known publisher recently released most of Georgette Heyer's books (originally published in the first half of the 20th century), with an introductory price of $2.99. Then the publisher raised the prices, some to almost $9.00. Now, prices vary on those books from $2.99 to almost $9.00, with a few periodically showing up as free.

So you can see that even publishers are experimenting with price.

And to make matters more complicated, there are a lot of readers like myself who absolutely WILL pass up books because of price. I generally will not buy a book above $4.99 at all, unless it is something I require for work (rare) or a reference book. And I don't buy a lot of books above $3.99. I have to really, really want the book at $4.99 to buy it. Those account for maybe 1 book every few months versus several books at $3.99 or less. I simply can't afford to feed my reading habit if I buy books that cost more. That's why I also used to go to used book stores and libraries. And I still look for specific books (e.g. classics like "Rebecca") for free, if I can find them for my electronic library.

However, I follow trends on marketing and what others are pricing their books at in several markets. Here is what I've seen:
Most authors decide on an overall strategy for the types of books they write, something like this:
$.99 for short stories up to 10,000 words
$1.99 for novellas from 10,000 through 50,000 words
$2.99 for novels that range from 50,000 (e.g. a Harlequin-length category romance) through 75,000
$3.99 for long novels that range from 75,000 on up
---Some folks go higher, e.g. $4.99 and up, when their particular genre supports that price or they have a wide audience. A quick survey of other books in a specific genre may provide a clue about the "sweet spot" for independently published or self-published books.

For authors with series, here is what I've seen:
$2.99 For the FIRST book in the series, when no other books are available yet (or $3.99 is popular, too)
$.99 Drop the price of the FIRST book in the series to $.99 when the second book comes out
$2.99 or $3.99 for the second and subsequent books in the series (some go as high as $4.99 before sales drop off, but usually after the series is better established)
--Finally
PERMA-FREE (Oh, my goodness!) You can drop the price of the FIRST book in the series to free when there are three or more books in that series available, as an alternative to $.99. This cycles in/out and authors often adjust this as part of promotional activities. It is also useful to build up reviews as part of promotional activities with the idea that the money will be made on the subsequent books if you have a good "read-through" rate (I made that up as a term to account for people who get the first book and then buy subsequent ones in the series).

Free vs $.99 for the first book in a series swings back and forth as far as effectiveness, so folks tend to manipulate that as necessary. Right now, so many are set to $.99 that the price point is becoming less effective. The pendulum is swinging back to perma-free. That will then work for a few months before it becomes less effective again and prices for the first book in a series will swing back up to $.99.

Or we may see some other changes.

That is certainly a strategy that seems to work for series pricing, but there are some caveats:
1) It works best if the first three books come out with no more than one month between releases. The quicker the other books in the series are released, the better.
2) Read-through and sales/earnings are best if there is a cliffhanger at the end of each book in the series, forcing the reader to pick up the next one. Note that this ticklish. It can backfire if the subsequent books aren't available because it irritates readers. Also, it assumes that you DO wrap up the main story's arc and that the cliff-hanger-ish part is a minor sub-plot or even a the start of a new plot/new story arc. You really have to be careful because a lot of readers totally loathe cliffhangers and books that don't have a "real ending." (I know I dropped Jordan's series because I got tired of long books with no resolutions and a seemingly endless series. I'm not a big fan of cliffhangers and often decide to stop reading after the first book. I don't think I'm completely unique in that.)

So there are a lot of strategies. Also keep in mind that some companies that want your price to end in $.99 so you'll have to take that into consideration. It means $3.99 versus $3.49, for example. And for me, I find that readers like the slightly odd $3.49 because it "feels" cheaper than the more common $3.99 and is a little different, making it look less like one of the herd. A little more thought went into it. A lot of folks now equate $2.99 with self-published and perhaps a lack of skill, although some publishers are now releasing old books (like those Heyer books I mentioned) at that price, which is helping erase that stigma.

That's why, though, many authors are going to $3.99 or even $4.99--it can sometimes make readers believe it is a higher quality product. But it can backfire when you have a reader like me, who honestly looks for bargains AND READS THEM (I don't buy stuff I don't want just because it's free or cheap). I won't buy a book at $4.99 if I have the least concern that I may not like it. But I'm more likely to take a chance on a new author at a lower price.

It is much more difficult if you write books that "stand alone" and are not in a series. Then, using the simpler pricing strategy of basing price on the length of the book may work best. Then you can change the price for various promotions, e.g. free or $.99 for a few days or week to build up reviews and get some momentum going.

Psychological games. Ha, ha.

Many successful authors recommend playing with price until you find the sweet spot where you're selling a nice number and still making a comfortable profit.

Remember: You can always change the price. Nothing is permanent.

One last note: do an informal survey of the books in the genre your book fits within and see what the range is. That also helps. You don't want to be at the upper range of price unless you're already so famous that people will buy your books no matter what they cost. :) Likewise, only use prices in the lowest range for specific purposes, like the first book in a series or a special promotion.

Hope that helps someone. I also hope to hear from readers. What prices make you buy a book? Do you equate price with quality?

Shooting Craps

Publishing is really a crap shoot - you just never know what will catch reader's attention and what will just slip away into oblivion.

This weekend has been one of my best, ever, with the exception of three months in 2011 when my books were literally flying off the shelves. About two weeks ago, The Unwanted Heiress, a sweet Regency romance was released, or rather re-released as it had previously come out as I Bid One American. The cover for The Unwanted Heiress was redone by a professional cover artist, Amber Shah, based on a photograph by Jenn LeBlanc, and the results were terrific.

The book had always done well and attracted the interest of two agents, so when I got the rights back, I re-edited it and got it re-released.

The results have been everything I could have hoped for. Back in 2011, several of my Regency mysteries did very, very well (The Vital Principle and the Regency romantic mystery, A Rose Before Dying) but I had never been able to crack that "2,000 in all Kindle books" bestseller barrier. This time, I did. On Saturday, March 23, I got a ranking of 1,995 in all Kindle books!

How did I finally break the barrier? Beats me. In fact, I've done absolutely nothing other than mentioning the book on my author page on Facebook a few times and tweeting about it a few times. Like many others, I read Konrath's blog about publishing and he's pretty well clueless, too, about what suddenly attracts readers to a book (and hopefully, an author), except for a few basics:

• A great cover - this is what catches the attention, first
• A great blurb
• A great title

The funny thing is, this reminds me of my first research into publishing when I began seriously writing (for the second time, after college) back in the late 90's. What I kept hearing, especially from unpublished authors, was that publishers kept telling them they wanted, "Something that is the same, only different." What the heck does that mean?

It means a book that fits comfortably into a genre that readers know and love, and yet is somehow different while it remains within the bounds of that genre. Now some writers can break through and establish entirely new genres, e.g. Georgette Heyer or Stephen King, but for the most part, if you want to sell, you need to write a book that readers can "place." That means, that readers know/understand what to expect. Oh, not that they know what to expect in every detail, but in general terms, like knowing there will be a happy ending.

Writing a book that fits within a genre, of course, doesn't guarantee sales, but it will generate more sales than writing a mishmash, e.g. a Frankenstein-meets-Gone-with-the-Wind-in-Space. If readers can't wrap their heads around a concept, it's going to be hard to find readers unless, of course, you're the next Stephen King. And while most writers think they are not only the next best thing to King, but actually better, I'm afraid the reality is: probably not.

So I'm grateful that readers are discovering The Unwanted Heiress and I hope they enjoy the sweet Regency romance. It fits nicely in the Regency genre, but as so many editors requested, it is the same, only a little different.

Happy Reading!

Guest Author: Dara England

Please welcome Dara England! I had the temerity to ask her if she would write a blog after I found her books and downloaded every single one of the to my Kindle. I loved her writing and really wanted a chance to host her.

She graciously agreed, and not only that, she is sponsoring a contest. If you stop by and leave a comment here, Dara and I will pick a winner. You'll receive an ebook by Dara, and I'll tell you, if I hadn't already bought all her books, I'd be tempted to cheat and keep the book for myself.
So here she is!

Dara England

Many thanks to Amy for agreeing to have me as a guest on her lovely blog.

Something I’m often asked lately is why I’m pursuing indie publishing after having been previously published in more traditional forms. There’s no short answer to this so I’m going to go with a long one. That’s right, get comfy because this girl is going to share her entire publishing background, such as it is.

In The Beginning …

After years of writing fiction in the hope of getting published “someday” I finally got up the nerve to start submitting my work. Only to small webzines and print magazines no one had ever heard of but at least it was a start. Seeing my work up on the web and knowing other people were reading it was fun and it gave me confidence, as well as the chance to hone my skills.

But that wasn’t enough. It wasn’t the real dream, just the smallest taste of it. I learned about the possibilities opening up in the e-publishing world and, although the idea of e-books took some getting used to at first, decided to give it a try. I submitted to a number of digital first presses and was eventually picked up by an up and coming small press called Lyrical Press Inc.

I still knew very little about the small press world and hadn’t had the sense to do much research before submitting. But I got lucky this time and LPI turned out to be a great first home for me and my books. They were professional, easy to work with, paid on time, and I didn’t have to deal with any of the nightmares it’s so easy for a first-timer to get sucked into.

Oh, Sweet Rapture!

But my dream was still traditional publication. Or legacy publishing. Or New York publication. It goes by many different names but you know what I mean. I wanted to see my books in stores and libraries. So when I heard of an opportunity to submit for a Running Press anthology, I jumped at it. And shockingly, at least to me, they wanted my story!

My experience with this second publication was a good one and seeing the Mammoth Book of Irish Romance in bookstores everywhere was beyond awesome. Whenever I stumbled across it someplace new I’d stop and pick up a copy and hug it. Or just stroke the cover. Let’s just say I probably looked like a crazy person to all the bookstore employees and the shoppers around me.

The Depths Of Despair

But New York, alas, still didn’t throw it’s gates open wide for me. I wrote a new book, sent it on the agent rounds and got a lot of interest. One agent even agreed to send me a contract but shortly thereafter her agency closed its doors and I was left still unrepresented. I was tired and frustrated at the endless rounds of queries, submissions, partials, fulls, rejections… Everywhere I went agents and editors talked about the tough market and all our communications ended the same way. They just weren’t confident enough that they could sell my book.

I returned to publishing with digital first presses but I kept an ear to the wind. And about this time I began to hear whispers of the potential for success in the self-publishing arena. Well, this was nothing new. I’d been hearing this kind of talk for years and had always dismissed it as nonsense. Everybody knew what self-publishing was, right? Just hand-selling a few copies of your little book to family and friends and anybody else you could beg or guilt into buying a copy. Self-publishers were largely derided and I was one of the persecutors. Just call me the Biblical Saul/Paul.

What’s This Indie Thing About?

But then something changed. Several authors I knew began to come out and “admit” to trying their hands at self-publishing e-books. These were “real” authors, people whose business sense I respected. They were New York published, for heaven’s sake! And yet, they were finding indie-publishing on the side lucrative. They kept their New York contracts and they continued to write for digital first publishers like Samhain Publishing, Ellora’s Cave, Carina Press, Spice Briefs, Red Sage, etc. But they were also finding time to put out some indie works and were reporting impressive sells numbers.

Cue inspirational music. This was the moment a light bulb went off over my head and I realized I could be building a reader base with indie publishing and pursuing New York at the same time. It wasn’t an either-or situation. What was more, thanks to the lower cost of producing an e-book versus a print book I could experiment with this whole indie thing at little expense.

Testing The Waters

Ok, I’d wised up and it was time to dip my toe into the water. I wrote something new, something I hadn’t tried before. A historical mystery novella set in Victorian England. I titled in Accomplished In Murder. I had always enjoyed detective stories but this was the first time I’d had the nerve to write one. Previously I had written things I thought would sell well, mostly paranormal romance. But it was time to break out and write something my heart was in, something I actually enjoyed for its own sake.

Thanks to my major obsession with hanging out on writers’ forums all these years I’d made a lot of connections with people involved in the publishing industry. I knew a number of formatters, editors, cover designers, etc. I hired Lauren Dee of Daisy Cakes Creative to edit my manuscript because she came highly recommend by other writers I trusted. Also she was reasonably priced and I didn’t have a huge budget. I lined up Lucinda Campbell of L.K. E-Book Formatting to format my e-book because I didn’t trust myself to do it properly and I was determined my first effort at an indie book would look professional.

The Big Experiment

With surprising ease, I uploaded my e-book to the usual venders and sat back expecting to watch the dismal numbers creep in at snail speed. Instead they…well, not exactly rushed in, but came in at a respectable and sedate pace. I had studied other’s statistics and was prepared for the long haul. I thought, “I’ll sell five copies the first month, ten copies the next, and wait for the snowball effect everybody talks about”. Instead, I easily surpassed my meager expectations on the first day my book was available for purchase.

At this moment, about a month out from my first indie release, I’m sitting in Amazon’s Top 100 list of best-sellers in the Historical Mystery Category. I’m also respectably situated on the Women Sleuths list. I have no idea how long this good fortune will last but I’m enjoying the ride.

As to the big question, will I be doing it again? Heck, yes!
Dara England
http://www.daraenglandauthor.com/

Accomplished in Murder


Murder was never so refined…

When her holiday on the coast of Cornwall takes a deadly turn, it is up to Drucilla Winterbourne to uncover the dangerous secrets the inhabitants of Blackridge House will do anything to conceal. But can a proper young lady from London society comprehend the dark motives of a killer?

Accomplished In Murder is the first in a series of historical mystery novellas featuring intrepid Victorian heroines up to their bustles in crime. These works are only loosely connected and can be read in any order.

Length: 17,000 word novella.
* * * * * *
Contest
Please be sure to leave a comment to win a free copy of the ebook, Accomplished In Murder.

Amazon Publishing on the Kindle, Redux

Indie Publishing, Who'd Have Thunk It?
A quick blog, a few random thoughts on independent (indie) publishing, mostly centered on the Kindle...

I admit it, I never thought I'd give in to the lure of indie publishing. If nothing else, I'm a firm believer in the search for excellence and traditionally, excellence in publishing meant the whole agent/NY publishing thing.

Got a couple of agents, got a few books published, but they languished. I languished. I considered giving up, calling it quits, admitting that I was the one loser out of the group of six starry-eyed writers striving to be published who all went on to bigger and much better contracts.

But I'm stubborn, and I had all these books in my head dying to get out, and what the heck?

Then I started reading Konrath's blog. Things exploded in the indie world. Like an idiot, I realized that once again, I was behind the curve on something I should have been at least one step ahead of. I mean, I have a day job in the computer industry. I should have realized what was going on, much, much sooner.

Nonetheless, I finally took the plunge a few months ago. It has been a totally eye-opening experience in ways I really didn't expect.

Serendipity is alive and well and nesting in my Kindle.

What happened?

Well, I had a mystery (The Vital Principle) that I was talking to a publisher about, but the advance was small and I realized, well, if the book was good enough to be published, wasn't it good enough to be indie published? After more work, of course.

So I did.

A couple of months later, I'm doing...quite well. Not burning up the Internet, but nice, solid sales. In the meantime, I had another book I'd written and was almost ready to go. I got it ready and indie published that one (A Rose Before Dying). Again, nice solid sales. Enough so that I've now set into motion plans to retire early and write full time.

Then...serendipity.

My trad books? They're starting to sell. With virtually no effort on my part (except, of course, I'm working on my next book which is a LOT of effort).

It's the reverse of what I had expected. I had expected traditionally published books to drive the sales of my indie books. What is happening is that my indie books are driving the sales of my trad books.

Is this some weird thing unique to me? No clue. No clue AT ALL.

But I will say this: writing the best book you can write is worth it. And the best advertising is your next book.

Finally, let me talk about a related subject that is near to my heart. Amazon rankings. If you're an author, you may be as addicted as I am to the rankings watch.

But what do they really mean?

It's all relative, my dear.

For a full and comprehensive discussion on Amazon rankings, I encourage you to look at the following link: Amazon Ranks Explained. In a nutshell, the rank is how well your book is selling that hour against all the other books on Amazon. It's calculated hourly.

While that link does a wonderful job of explaining the ranking system, the rank data is from 2008. I took my own data from 2011 and updated the table slightly to reflect the more recent information. Here's how the ranks roughly (and I mean ROUGHLY) break down as they relate to sales.

RANK                         Weekly Sales - 2011
    1,000                            210 copies (~30/day)
    5,000                            100 copies (~16/day)
  10,000                              70 copies (~10/day)
 100,000                             20 copies (~ 3/day)
 300,000                             15 copies (~ 2/day)
 500,000                               1 copy
1,000,000                             1 or 2 copies/month

Keep in mind a few things:

1. This is relative to all the other books being sold, so if book sales are really slow across the board, the number of copies sold to earn a ranking will be less & vice versa.
2. Huge jumps in rank within an hour, e.g. going from 114,000 to 44,000, doesn't mean you're selling between 3 and 10 copies that day or even that hour. It means that you may have sold one copy that hour, which was more than those above the 44,000 rank did, but less than those with lower ranks. For that specific hour.
3. It's the average ranking for an entire week that may give you the best clue for your sales that week.

You really can't tell for sure what your sales are without getting the details, but if you're an author who has to wait for his or her publisher to release the figures, this at least gives you a swag number.

If you're an indie author, then of course you can check the daily numbers (like I do) from Amazon DTP. But it's still fun to look at rankings.

Best wishes for success!