Is Pricing A Factor?


Yesterday, I spent some serious time looking at pricing models for ebooks. It appears that every author has a different method for determining price. I also found a couple of authors and talked with them about their pricing logic.

I’m interested because my fantasy series has a very low retention rate. I know part of it is the book… Dark Cotillion requires some effort to get through. But is that the only factor? I was told it probably wasn’t.

I was told that fantasy readers are usually of college age and have very little money to spend on luxuries. This does not apply to paranormal romance, because they tend to be older. Same goes for regular romance, mystery and westerns… they tend to have more money to spend so price isn’t as big a factor.

Several suggested I drop the price of the 2 sequels to Dark Cotillion and see what happens.

Now, I’m a data junky and have almost a year’s worth of data on Dark Illumination, so I can do that and see what happens. So let the experiment begin.

PS: I was also told yesterday that Tortured Dreams is not for the slower paced reader. Once the action starts, it just runs away with itself… I don’t know if it was a compliment or not.

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5 Comments

  1. I think the best way to do pricing is while you are thinking like a reader, not a writer. Remember the people who are consuming. It’s so tempting to price higher, because you want the better royalty, or because (of course) your books are worth it. But if readers feel it’s too high, they won’t buy, or they will, but then they’ll feel cheated and return the title. I have heard that paranormal and fantasy are most returned, and erotica is least returned. I’m not sure if that’s true? I have also heard $2.99 is like a “magic number” and leads to more sales? Mysteries. But for my stories, which are short, $2.99 seems too high for me. I wouldn’t want to pay that as a reader, no matter how great the story was.
    *Sigh* It’s always a tough decision.
    I’m looking forward to hearing the results of your price experiments πŸ™‚

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    • I have priced my fantasy books as follows: Dark Cotillion – Free, Dark Illumination and Dark Resurrections – $0.99. They were priced $2.99, but I had a very low retention rate… So we will see if that boosts sales and retention (it is currently 3.8%).

      My cozy mystery series are mostly novellas and all priced at $0.99. I have decent retention from book 1 to 2 (8%) and excellent for 3 & 4 (both over 90%).

      My mystery/thriller series is priced as follows: Book 1 – $0.99, Book 2 – $3.99 and I have a 14% retention rating on it. Which is my highest retention rate for any of my series… But mystery/thriller is my strongest writing genre.

      Thinking as a reader, I would pay $3.99 for my mystery/thriller series, but not the others. Hence why my cozy mysteries are all $0.99. I am not sure what I think about paying $2.99 for my fantasy series. Leading me to experiment with the price of it. I will post weekly results. πŸ˜€

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  2. Maria D.

     /  August 27, 2013

    I don’t read much fantasy but I’m going to try yours since I like the mystery/thriller books….I’m also going to try to get the word out for you on the lower prices:)

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    • Thanks Maria!

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    • kraftyvada

       /  August 28, 2013

      Maria, I’m not a fantasy reader either, but since I like Hadena’s writing so much and the first one was free I decided to try it! I loved it as much as her other series, so I bought the other two and enjoyed them also! I think you will enjoy them!

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