The price is a very delicate part of everything that is sold online. Placing a price on a level that is too high can kill your sales and placing it too low can kill your profit. So, a perfect balance has to be found between how much the customer is willing to pay that will bring you the highest margin of profit.
The selling ebooks online business also includes some dilemmas about the pricing. Charging 70$ for an ebook is a price almost no one is willing to pay unless the book is really good. If you check the websites where platforms sell books online you will notice that ebooks are sold for a smaller price than the hard copy ones and there are a few reasons for this.
(you may also like: Top Strategies for selling more books on Amazon as a book author)
- The cost for making an ebook
When you create an ebook, there aren’t many expenses you need to make. You just need a personal computer or a laptop and an internet connection. There are no printing costs, no publishing expenses and no postage and packaging costs which make it easy for anyone to create an ebook.
The low costs for creating an ebook causes many to try their luck with writing and selling ebooks which bring a lot of competition to the market, causing prices to be low in order to sell.
The only costs you would make would be if you decided on hiring someone to write it for you, having it proofread and have someone to format it and edit it for you. But, other than those costs and possibly signing up fees for platforms who sell books online, you have nothing else to spend on.
On the other hand, if you decide to write your eBook by yourself, do the artwork and proofreading, then your costs will be zero and whenever you sell a piece of your eBook, 100% of it will be profit.
- Content and uniqueness
What makes an ebook sell better is the content of it and whether there is something similar on the market. The more unique a book is, the higher the price of it. When you create an e-book, ask yourself the question “Is there something similar to this on the book market?” and if the answer is no, go for it.
Another factor is the content of the book, meaning, the number of pages. If your ebook is as small as a few tens of pages, of course, the price of it will be lower, in most cases at least. There are cases where a 50-page book sells for more than a 500-page book based on the story and content. Books written with expert knowledge such as web development books and finance books sell for a better price than nursery songs books, regardless of the number of pages.
- Additional sales cost
The selling books online business, same as any other business, has its sales costs. Most payment methods such as PayPal take a fee upon a purchase and based on your country’s laws, an income tax might be requested to be paid.
Have these things in mind when forming the price by which you will sell your ebooks to avoid working for a small profit or in the worst-case scenario – with a loss.
If we’re being fair, you can’t know how everything on the market works and how to correctly price your ebook. But one thing you can do is do a little research on the prices of similar books your competitors sell and try imitating that until you have built a name for yourself.
— Alok Singh (@alokkey) 11 de mayo de 2017