how to Decide On a Price for Your Ebook

In this article, you will learn the different methods of charging and setting a price for your ebook.

You will be guided on how to choose the best pricing policy.

Also, included is what you should do to maximise the perceived value of your ebook.

Introduction

If you have just written your ebook and are ready to sell it but you are stuck when you decide to set a price for it, this article is for you!

Read on and you will be guided on how to price your book for maximum sales.

Setting a Price for book

Setting a price for your new ebook is one of the most important steps in your marketing campaign.

It is critical to the success of your your entire marketing and promotion.

However, there is a difference between setting a price and setting the right price for your ebooks.

Do Not Charge Too Little or Too Much

If you price it too little, your buyers will think it's of little value and they will not be willing to buy from you (remember anyone that does not buy from you will buy from your competitors).

Even if they buy from you, you will have to sell lots of copies so as to cover up your cost and make profit.

Also, if you price it too much; compare to what your competitors are charging, not many people will buy from you.

You will be forced to continuously lower the price of your ebook (which will cause you lots of problems in the future).

There are several school of thoughts on the topic of setting the price of an ebook.

One school of thought is of the opinion that, since the method of production and distribution of an ebook is minimal and less cumbersome unlike the traditional method, newer authors should lower the price of their products to allow readers to get to know more about what they are offering.

Another school of thought is of the opinion that the price of an ebook should be set in a way that will reflect the length and work of the author.

Whichever way you choose to go, know that consumers expect the price of the ebook to be lower than the price of the printed version.

The thought behind this believe is that there is no shipping and handling fee, no need of warehouse to store it and the fact that there is little to no inventory in producing ebooks.

Offer Lots of Value and Benefits

The first thing you should do as a newly self published author is to build your readership base.

This can be accomplished by offering value and lots of benefits in your ebook and other related products.

Make the equivalent of your ebook in different formats such as mp3 audio, transcripts, worksheets and a printable journal.

The more value your buyers can perceive from buying your ebook (like offering the equivalent of your ebook$ in other format and give it away as part of the purchase of your book), the higher the price you can charge for your book.

Deciding what to charge

What you charge for your book also depend on where you are in your business and what you want your ebook to accomplish:
Are you just starting out?

• Do you want people to know about your mission?

• Is your brand established or not?

• Do you intend to write an ebook to promote a product?

• Do you write the ebook to answer all the questions you are being asked over and over again?

• What group of people are you selling the ebook to and what profession do they belong to?

• what section of the market are you selling to?

• What makes your ebook better than your competitors?

• what value and benefit does it offer the buyer?

• Your answers to all these questions will determine what you charge for your ebook.

5 ways to quickly determine the price for your ebook

Use the following list to quickly determine the price for your ebook.


A. Check out your competitors Go to to amazon and check out the best sellers in the ebook category in your niche.
Check out what price are being charged for similar books on the bestsellers list.

See what price works best for them and charge accordingly.

B. Do your research Use google to search and locate ebooks that belong to your niche.

Once you have a list of ebooks that fall in your niche and are similar to yours, compare their prices and the value they offer to their customers.

This should give you an idea on what to charge for your ebook.

C. Think about your customers, buyers and readers If you have a list that you have sold to before, you should have an idea what they will buy the ebook for.

If you don't have a list, think about what your readers and prospective readers will like to pay for your ebook.

Price your ebook based on what you find out.

D. Think about affiliates If you have affiliates that helps you promote your ebooks and products, you might want to consider them when determining what to charge for your ebook.

You want to price your ebook to make it easy for them when they promote your it.

E. Survey your customers and readers Ask your readers, buyers and subscribers what they would pay for the ebook.

Ask them different questions in your survey with the aim of capturing what they would likely pay.

All of these should give you idea of what you should charge.

In this post, you have learned some techniques that will help you set a price for your ebook.

You also learned what you should put in place to increase the sales.