How to Evaluate your kindle E-Book
I am currently working on my new book which is all about Frugal Blogging – which is on finding quality and free resources. While writing the book, I was curious as to what makes a book’s price attractive enough that makes a person buy it with all heart. I also thought about whether a book is bought for its price or for its content. After doing some research on this topic and using some common sense, I figured out that there’s more to it. AND NO PRICE IS FINAL. That’s a revelation, if you think about it because we all grew up with hard copy books that has a set price, printed on its back cover, that never changes – at least for its first year of publication. But with ebook, the publishing is in our hands and thus pricing is also in our hands – at least to a major extent. That’s why experimenting with various prices makes complete sense, until we find a price point that works both for us and for our readers. Choosing a price for the ebook to sell on Amazon through KDP has two ways: selling it for free, also known as perma free; and selling it for a price. Here are 5 terms and definitions to understand before we talk about royalty and pricing: No.1 – Royalty plan – you either choose 35% or 70% – based on this choice, your final royalty earnings will be either more or less. No.2 Primary marketplace – this is the base marketplace you choose for your book to sell. it could be amazon.com or amazon.in or any other that you can choose from 13 marketplaces in total. No.3. list price – this is the price you set for your ebook. No.4. delivery cost – delivery cost is based on the size of your ebook after conversion – the bigger the file size, the higher will be your delivery cost. No.5. royalty amount – finally, the royalty earnings amount is calculated like this – your list price times royalty plan minus the delivery cost gives you the royalty earnings per sale. now that we have cleared out the definitions and terminologies, let’s talk about some practical ways to price our ebooks. 1. perma free – selling for free has major benefits – even though that sounds counter-intuitive. If earning some cash is not the motive, and you want to gain a solid following or an audience for your writings, go for this way. It does more good in the long-run. This works quite easy. By default, there is no way we can set the price of an ebook to $0. So, we choose a base price, let’s say $0.99 cents and then publish it. We then also publish the book on other platforms, like smashwords, and then price match that in amazon so they make it perma free. This strategy works wonders especially when your first book is part of a series and you want your first book to be free. But when it comes to free, here’s an open secret with a word of caution: a reader has to have something invested in what he/she is reading. and free doesn’t accomplish that. Discount it deeply, but giving it away for free might have no value to the reader unless you are sure there is tremendous value in what you have written. That’s all about selling it for free. Next let’s talk about some ways to sell for a price. 2. kdp select – selling for a price, again, has two ways – choosing KDP select and going the regular pricing model. let’s see some differences in both: if you chose kdp select – your lock in period is for 90 days. if you didn’t choose kdp select, you can opt in for it anytime. with kdp select, you cannot price your ebook below a certain price limit – for e.g. 2.99 USD or other limits based on ur home currency. however with regular option, your lowest avbl option in terms of USD is just 0.99. and Rs.49 in terms of Indian rupees and so on. for some countries like Japan, Brazil, Mexico, India, you must have to enroll in kdp select in order to have 70% royalty earnings. There are also some benefits during this 90 day period in KDP Select, which is that the book gets sold to the readers who have subscribed to Kindle Unlimited worldwide. Additionally, the book also gets more eyeballs through the Kindle Owner’s Lending Library in the U.S., UK, Germany, France and Japan. The only evident downside is that when you choose to enroll your book in KDP Select, you’re committing upfront to make the digital format of that ebook available exclusively through KDP. During the period of exclusivity, you cannot distribute your book digitally anywhere else, including on your own website, blog, etc. However, you can continue to distribute your book in physical format, or in any format other than digital which is the ebook format. There are some benefits to freely promoting your ebook for 5 days which is available when we choose KDP select – it could be consecutive or broken into 5 diff days. choice is yours. during these promo days, your book will be free to download, this is exactly when you send out newsletters to ur audience, change ur twitter head to let the world know u r giving ur book for free. and why should u do that…? the more downloads, the better – because that’s when ur book can even become a bestseller. 3. when to go for free promotions: time ur free promo days in such a way that it falls during the weekend days, and use all ur 5 days at once. when i did this for my books, i did a mistake by using 2 days first and then another 2 days later on and then 1 more day later on. my book appeared on 2nd page of the amazon’s sales page in the top free best-sellers section; but this ended when the prices went up. had i continued my free promotion, the momentum would have caught up further, making the book showing up on 1st sales page of the top free category in the best sellers. that would have skyrocketed my sales As a concluding thought, practice smart marketing and price your books in accordance with what your genre dictates. Find out what other authors have priced similar books as yours. Then take it from there.