I had an interesting exchange recently with an indie publisher who’s been in the trade for many years and seen it all. This is what he said on the issue of eBook prices. “Things are tough for every indie publisher – readers seem to have decided that the price point for eBooks is 0.99 or free and as you know there are very small margins involved at that level”. Oh yes, the margins are very small indeed.
Self-publishing writers like me are attracted to eBooks for all sorts of reasons. The upfront costs are minimal compared with publishing ‘real’ books; you don’t have to decide how many to produce, balancing unit costs and the risk of coping with unsold stock; and there are no issues around storage. Cheap and easy, or so it appears.
But, if you want to produce an ebook to an acceptable standard, you may want help with editing, and proofreading, and the cover. All those need to be paid for, and the costs will far outweigh the cost of conversion to eBook format. And if you want people to buy your book, in whatever format, you will need to publicise and promote it. Any potential reader first needs to know that your book exists, and believe that they want to spend some money on it. Promotion takes effort and energy and can be frustrating, as you realise that ‘professional’ reviews are unachievable, the market is saturated, local media don’t care that much, and advertising is expensive.
The promotional strategy that takes least effort is simply to lower the price, and here’s where the problem starts that all of us are currently facing. If a sufficient proportion authors are prepared to sell their work for £1 or $1, or even give it away to manipulate the ‘best-seller’ lists, how can we then persuade readers to pay a proper price, for a product that represents many many hours or work? It makes no sense to under-price, and thereby under-value, a book. It cheapens the writing process, and makes me – for one – feel like a mug.
If selling for these ludicrous prices were a rarity, and a temporary way to attract buyers, fair enough. But the ‘bargain’ price has now become the ‘standard’ price and the value of our work as writers appears to be permanently debased.
I would love to increase my ebook sales, but right now I’m simply not prepared to reduce the price to less than a cup of tea. Am I being foolish? Maybe, but I value my self-respect.