The article Pricing for Profit described a pricing technique utilizing probability theory to estimate sales at different price levels. Since some publishers prefer a less intuitive technique, here is a different way to price your books that is based more on marketing strategy. This technique also contends that traditional pricing – that is, by multiplying…
Category Archives: Book Pricing
Pricing for Profit
Price is the element of a marketing mix with the greatest impact on revenue; the others (distribution, product development and promotion) produce revenue indirectly. Yet, this importance notwithstanding, some publishers establish the prices for their books by following the rule of thumb that says the price should be 8 times printing cost. Others price their…
How to Price a Book
Book pricing depends more upon genre or category than on production costs. Here is a formula for determining how to price your book: You must look at price from the bottom up and from the top down. Bottom up: The Traditional Method (8x) Bottom up: You must price your book at least eight times (8x)…
How to Price Your Book
Finding an appropriate price for your book can be a delicate balancing act—you need to set it high enough to make a profit, yet not too high to dissuade readers from buying. With a little research and an understanding of what customers perceive as being of value, authors can find a price that will work…
The Seven Deadly Sins of Book Promotion
Competitive doesn’t begin to describe today’s book market. The booming print-on- demand and self-publishing industries, coupled with mainstream publishers, has flooded the market with thousands of new releases each month. “The LA Times receives 600 to 700 books for review each week,” reports Steve Wasserman, book review editor (http://parapublishing.com/sites/para/resources/statistics.cfm). With an infinite number of books…
Pricing Your Book
Pricing is not an exact science, but there are some formulas and guidelines you can refer to when setting a price for your book.
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