How to Market eBooks on Amazon
Most authors, of course, want to successfully market their eBooks on Amazon and sell a lot of copies. The main difference between selling print and digital copies is that with eBooks, pricing can be a powerful marketing tool. Promotional book pricing strategies aren’t new to eBook marketing and Kindle book marketing. Unlike printed books, it’s easy to change the price of your eBook strategically. Some experts believe in starting high to low, others low to high.
Finding the sweet spot in pricing for your eBook isn’t difficult to do. Begin with a price at the higher end, and every few days, drop it by one dollar until you get below a price of $1. For example, you might start your price at $6.99 and incrementally reduce it down to $0.99. Repeat the process one more time, analyze sales data, and find the price at which the most copies of your book have been sold. Once you find the right price, keep it there. You can do the same with a low-to-high strategy. The key in either approach is to allow enough time to collect sufficient data so that you can determine the optimal price with confidence.
eBook Pricing Policies on Amazon Also Play a Role
Giving away your book but making it appear as if a copy was sold used to be a popular eBook marketing tactic. You could make it look like a lot of copies were sold, get a high ranking, and then shift to charging for your book without losing the top ranking. But now, Amazon and other bookselling websites have this practice much more difficult. Therefore, the key to good eBook sales is to understand how to work within Amazon’s rules.
First, some things to consider: If you price your eBook at the high end, say $9.99, Amazon rewards you with a higher royalty. Pricing below a certain point reduces your royalty. However, if you sell more books at a lower price and receive a lower royalty, you might end up making more money than if it was higher priced. A little confusing? Here’s how Amazon explains it:
35% Royalty Option
Less than 3 megabytes, a minimum list price of $0.99, a maximum of $200
Greater than or equal to 3 megabytes and less than 10 megabytes
A minimum price of $1.99, a maximum of $200
10 megabytes or greater
A minimum price of $2,99, a maximum of $200
70% Royalty Option
A minimum price of $2.99, a maximum of $9.99
So what’s an author to do? Do your homework, study, and test some more. With the right eBook pricing strategies for Amazon, nearly all titles and authors can find some level of success. Making sure your book is fully described and tagged in the proper categories also are critical to sales. You can find more information about each of those by reading more articles on the Smith Publicity blog.