How to choosing the right price for your ebook
Choosing the right price for your ebook is one of the most critical parts of the marketing process. The first rule of pricing ebooks is to never underprice. Determine the highest price your audience can afford, and then if you find your book isn’t selling, you can always reduce the price. Before you take that step, make sure you are promoting your book like crazy on the Internet and on websites. The price should be aimed at bringing in profits, but you should never forget that price is one of the factors that people use in judging the value of your ebook before they buy it. So always start with the highest price, and then launch a mega-marketing campaign.
There are many different formulas and methods for determining the correct price for your ebook begin with honing in on your ultimate goals.
Decide if your goal is to get wide distribution and maximum exposure. This goal is aimed at drawing customers to your business or service, or to establishing the credibility of your reputation. If this is your main goal, you should aim to keep your price on the low side. Some authors have even priced their ebooks at a profit loss to draw a high number of new ustomers. The key is to find a price that maximizes your profits and the number of books you sell.
After you figure out your goal, you must figure out what your audience’s need is for your ebook. For example, does your ebook solve a particular problem? If it does, and solves it in a way that hasn’t been written about in one hundred other ebooks, you will be able to achieve high sales at a high price. If your book solves a problem or answers questions in a new and unique way, you should price your book as high as you can go. You will achieve larger profits this way, but bring in fewer customers.
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