I’ve been reading about various self-published authors who are selling frankly obscene amounts of their books on the Kindle, and one thing they all have in common is that they sell at least one book for 99 cents. Now, I’ve been selling reasonably (though hardly enough to give up the day job), but I want to see what effect this has on sales, so I’ve set the price on both my books to 99 cents. (Kindle versions only) I am going to try this for a week (the change will take a day to go live) and see what that does to sales and to my royalties.
Now, a few things to note here – by doing this I’m cutting my royalty rate disproportionately, because not only does the book drop in price from $5 to 99 cents, but my royalty rate drops from 70% to 35%. In other words, I’d have to sell ten times as many at this rate as I was at the previous rate to make the same money. So it’s likely that this will be a one-week only thing., If I sell significantly over that rate, I may keep this going longer.
I’d like to apologise to the few of you that have bought this on Kindle already – I feel bad for having charged you more. At the same time, however, I think the original (and probably future) price of $5 is far from excessive, so I hope you don’t have too many complaints.
Proper post tonight – part two of my scientific method posts