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Thread: Will I ever learn? : D


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Permlink Replies: 47 - Pages: 4 [ 1 2 3 4 | Next ] - Last Post: Jun 21, 2012 4:51 PM Last Post By: tracihilton
tracihilton

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Will I ever learn? : D
Posted: Jun 16, 2012 11:00 AM
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Why do I still think that nudging my prices up or down will make a HUGE difference in sales?

I keep testing the 4.99 waters, but almost every time I do it I hit a wall...the book goes more than 24 hours without a single sale...so I eventually drop it back down to normal.

This time after more than 24 hours with no action at $4.99 (I tend to sell a couple of copies of each title every day) I said, "I'll put it down to $2.99 so I can move a few more to make up for my lost sale." Whah? It's not even logical thinking.

I share because, I dunno, I guess because you guys understand and can bop me on the head with a newspaper.

The diff between 2.99/3.99/4.99 just isn't that massive to readers and changing from one to the other is not likely the cause of any slow downs or speed ups in price. : P

Traci
amb50

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Re: Will I ever learn? : D
Posted: Jun 16, 2012 11:17 AM   in response to: tracihilton in response to: tracihilton
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Oops, I misread the question.. sorry :-@

Message was edited by: amb50
andresanthomas

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Re: Will I ever learn? : D
Posted: Jun 16, 2012 11:22 AM   in response to: tracihilton in response to: tracihilton
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I am going to challenge you to put it to $4.99 and leave it for a whole week. You can't possibly judge it on a day or two. For all you know, the sales you got at $2.99 were delayed reports from the $4.99 era.

Remember, you're getting 1 3/4 sales at $4.99 for every $2.99 sale. So, it is ok to skip a couple days at the begining. Have confidence and hang tough. Give your $4.99 buyers time to find you. For that matter, if it is in Select, raise the price to $4.99, set it on a free promo day, then get your bump on the $4.99 price point.
beccamills

Posts: 162
Registered: 05/04/12
Re: Will I ever learn? : D
Posted: Jun 16, 2012 12:09 PM   in response to: tracihilton in response to: tracihilton
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I'd definitely leave it at $4.99 for a good while before deciding that it's not going to move at that price. When you first change it, many of your "also-boughts" will be $1.99/$2.99 books. You want to give your book time to get associated with more $4.99/$5.99 books, which will help readers in that price bracket to find you.

Smaller moves might be easier. I recently went from $2.99 to $3.99, and it had no impact on sales whatsoever.
vlgallas

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Re: Will I ever learn? : D
Posted: Jun 16, 2012 12:22 PM   in response to: tracihilton in response to: tracihilton
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I have a book that I have tried the price changing with because it doesn't sell. Most of the time I keep it at $9.99 and as a result of Google Play discounting it ends-up at $7.99. Well, in May I tried to sell it and set the price at $3.99 which was discounted to $3.03 here and in Play. I sold a few copies here and a few in Play and on B&N during the two weeks I had the sale.

Didn't really work for me, so it's staying at $7.99 for a while. It gets discounted to $6.19 and that's good enough.
martitalbott

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Re: Will I ever learn? : D
Posted: Jun 16, 2012 12:27 PM   in response to: tracihilton in response to: tracihilton
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I dropped all my books priced at $3.99 to $.99 for Christmas, and then raised them to $4.99. At the same time, I warned everyone the price was going up on my website, on twitter, on facebook, etc.

I did a lot of experimenting with the prices over the last two years and I'll stay at this price until I raise them again. I make more money now and that is what's important to me. However, my first book is free and it sells the rest, so I don't have to depend on promoting. I can do that mostly because I have 18 books. If you have only a few, giving one away might be painful.

I agree, you need to leave your price alone for at least a week to see what happens. If readers are recommending your books, they might be quoting the old price and new ones might be turned off by the new one.

My author page -- http://www.amazon.com/-/e/B003XSYENA
tracihilton

Posts: 4,838
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Re: Will I ever learn? : D
Posted: Jun 16, 2012 12:34 PM   in response to: martitalbott in response to: martitalbott
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I don't price on dares, sorry to anyone of the posts that have "challenged" me to do whatever. I've been self publishing for two years now and have ample data and comps to back up my $3.99 sweet spot.

Do I always remember the sweet spot for me is $3.99? Nope. But that doesn't change that my sales to profit ratio is biggest when I price right there.

Traci
kodaiokuda7

Posts: 191
Registered: 10/30/11
Re: Will I ever learn? : D
Posted: Jun 16, 2012 12:37 PM   in response to: tracihilton in response to: tracihilton
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Why do I still think that nudging my prices up or
down will make a HUGE difference in sales?

I keep testing the 4.99 waters, but almost every time
I do it I hit a wall...the book goes more than 24
hours without a single sale...so I eventually drop it
back down to normal.

This time after more than 24 hours with no action at
$4.99 (I tend to sell a couple of copies of each
title every day) I said, "I'll put it down to $2.99
so I can move a few more to make up for my lost
sale." Whah? It's not even logical thinking.

I share because, I dunno, I guess because you guys
understand and can bop me on the head with a
newspaper.

The diff between 2.99/3.99/4.99 just isn't that
massive to readers and changing from one to the other
is not likely the cause of any slow downs or speed
ups in price. : P

Traci


Yesod Publications does the same thing with my book Traci.
They keep trying to push the $3.99 limit and I keep emailing them telling them there is no way anyone will pay that for a no-name author like me.

For my book (due to its size) I've told them that $2.99 is best, and it seems to be.

I believe it was Amanda Hawkin that said she would never pay more than $2.99 for an ebook.
Perhaps readers have the same point of view?

-Kodai
petaward

Posts: 2,457
Registered: 01/25/11
Re: Will I ever learn? : D
Posted: Jun 16, 2012 12:44 PM   in response to: tracihilton in response to: tracihilton
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It's a mystery to me Traci. But I've missed seeing you on the forums. You are such a calming and sensible person. Things have become confrontational.

Joanna
robethpublishin...

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Registered: 12/09/09
Re: Will I ever learn? : D
Posted: Jun 16, 2012 12:50 PM   in response to: kodaiokuda7 in response to: kodaiokuda7
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I guess it depends on the book, author recognition and genre - the sweet spot. I easily sell my 40 page erotica for 2.99. As an experiment, I tried an erotica collection for $9.99 and about fell over when I sold 4 the first week.

I recently lowered Anna J. McIntyre's Lessons to $3.99 - as the next book in the sequel will be out this summer. Not sure if I will lower Lessons more, and have it priced slightly less that the second book. Yet, these are stand alone books, where you don't have to read each one to know what is going on. But if you like the characters, and want to know more about them, then you will.

I've done very little marketing on Lessons - and sales are sparse. But, I don't see promoting those books until I have more titles under that pen name. I know my other pen names didn't take off until I had more than three titles under them.

It is interesting seeing everyone's pricing point of view.

Bobbi
tracihilton

Posts: 4,838
Registered: 08/11/10
Re: Will I ever learn? : D
Posted: Jun 16, 2012 1:01 PM   in response to: robethpublishin... in response to: robethpublishin...
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Thanks Joanna, there just seem to be fewer and fewer threads to comment on these days....

Every author/book/genre combo has it's own sweet spot. I make the most money with three books at 3.99...I've had one at 4.99 for a little while now. (about a week and a half) it is not pulling in what it did at 3,99, or what the other two are bringing in at 3.99, but I have been leaving it there until tomorrow so I could check the weeks total before making a change.

Which is why I wonder what I was thinking with the other book? It was outselling and out earning the book at 4.99...so I raised the price. D'oh! I left if for...I dunno, about one night and two days? 36 hours ish?

Zero sales.

Like a dork, I then dropped it to 2.99. My brain said, "I'll get lots of sales to make up for the lost sales" even though I knew from experience it would sell exactly the same # at 3.99 that it would at 2.99.

Why do sales on my books tend to dry up at 4.99 but other folks can sell for 7, 8 or 9?

I think genre has a lot to do with it.

The bulk of cozy mysteries are still 99 cents and 2.99. They are also considered book-junk-food and tend to be short, so the readers in that genre may well have a mental limit on how much they will spend for a cheap thrill. : )

My sci-fi (coming soooooo soon!) will go up at $5.99.

Traci
hecky3

Posts: 114
Registered: 02/04/12
Re: Will I ever learn? : D
Posted: Jun 16, 2012 1:12 PM   in response to: tracihilton in response to: tracihilton
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My first reaction on reading your post was that potential buyers have probably seen your books at the old prices and didn't want to pay the higher ones. One of your other replies said something similar but I would suggest that you introduce the new prices either after a free promo or with new titles. Having said that you are probably best advised to stay with your sweet spot. If its been working for you then unless you have good reason to think things have changed then stay with it.
I hope you find a solution best suited to you and good luck with sales.
kodaiokuda7

Posts: 191
Registered: 10/30/11
Re: Will I ever learn? : D
Posted: Jun 16, 2012 1:16 PM   in response to: robethpublishin... in response to: robethpublishin...
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I guess it depends on the book, author recognition
and genre - the sweet spot. I easily sell my 40 page
erotica for 2.99. As an experiment, I tried an
erotica collection for $9.99 and about fell over when
I sold 4 the first week.

I recently lowered Anna J. McIntyre's Lessons to
$3.99 - as the next book in the sequel will be out
this summer. Not sure if I will lower Lessons more,
and have it priced slightly less that the second
book. Yet, these are stand alone books, where you
don't have to read each one to know what is going on.
But if you like the characters, and want to know more
about them, then you will.

I've done very little marketing on Lessons - and
sales are sparse. But, I don't see promoting those
books until I have more titles under that pen name.
I know my other pen names didn't take off until I
had more than three titles under them.

It is interesting seeing everyone's pricing point of
view.

Bobbi


i agree Bobbi.
The $2.99 for my book is a price I try to force Yesod to keep it at because I have no other books under my belt yet (though the 2nd is half way done).

I understand that both lower and higher prices work for different people, but I have no idea why.

Maybe it is the genre?
Mine is Military Science Fiction, which is a niche of a niche IMHO, and so I don't think it can garner a higher price unless the author is already well known.

But that's just my opinion, I acknowledge that I could be dead wrong.

-Kodai
mike4128

Posts: 1,584
Registered: 06/06/12
Re: Will I ever learn? : D
Posted: Jun 16, 2012 1:28 PM   in response to: tracihilton in response to: tracihilton
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I wondered over the same thing.

5 Freebie days at a list price of $6.99.

I learned alot; unfortunately too late.

I was looking for exposure to my book.

Went to $3.99; now $2.99 (where I'm going to leave it at).

Then your'e up against other freebies, who kick you down even lower on the list.

As they say in the "Voice of the Author," - "Learn for yourself."

It's a quandary.

If I had it to do over, I would have gone one day.

Google your book, I don't have the link handy, but there is a site that lists free books for the day - which people jump on. $0.

I would have gone one day. $2.99 is my max.

You can buy books at walmart for $1.99 - paperback, browse - peruse.

Lending library on my next upcoming 3-part series - no way.

I'll let it sit at $2.99 and let the "New in the Last 30 days do the work for me.

I actually saw a book listed for $9.99 that was estimated at 25 pages.

Amazon.com needs more editor's;

And they're trying to make their own money, running giveaways and promos. They're smart about it, but it doesn't help the new author who actually wrote a very good book - new - fresh - unique - to pay the bills.
mike4128

Posts: 1,584
Registered: 06/06/12
Re: Will I ever learn? : D
Posted: Jun 16, 2012 1:40 PM   in response to: andresanthomas in response to: andresanthomas
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That's a very interesting point.

If you're on select; leave it at $4.99.

Good marketing strategy.

Thank you for sharing that.
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