Are eBook prices far too low?

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 havebusiness-money-pink-coins.jpg 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.

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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 pexels-photo-266174.jpegdebased.

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.

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Do ‘special deals’ on books really work?

I’ve just put the ebook of ‘A Good Liar’ on GoodLiar_COVER.indda Kindle store special deal for a week, starting April 1st. I have mixed special deal -stock-photo-limited-time-offer-price-tagfeelings about doing so, but it’s just for a week, and we’ll see how it goes. If it encourages people to read the whole trilogy, as ebooks or paperbacks, it’ll be worth the angst about reducing the price to less than a cup of coffee.

My ambivalence about this stems from knowing how much time and effort any author puts into writing and publishing their work : setting a very low price seems to under-value all that. But, on the other hand, if you want people to read and enjoy your stuff, making the price temporarily very attractive is a way to achieve that. One of the joys of self-publishing is that you can make those choices yourself.

It was recording the audio book of ‘A Good Liar’ that reminded me what a good story it is. The engineer who helped me – Tom Tyson, at the Music Farm in Egremont, Cumbria – is not a great fiction reader, but he was so hooked after the second recording session that he had to read the rest of the story for himself to see what happens.

Jessie Whelan is not an easy character to deal with: she’s self-centred, impulsive, and sometimes insensitive, but she’s had to battle all her adult life, and it shows. She’s also – despite years of abstinence – very interested in sex, which pulls her into a relationship that she could, and probably should, have avoided. Some scenes were really hard to read while I was doing the recording, not just because they portray sexual assault but because Jessie doesn’t really know whether to blame the perpetrator or herself. It’s not in her nature to feel like a victim, although the reader can see that’s what she was. How did Tom react while he was listening to it, I wonder? I didn’t ask him, but I will.

In the meantime, before the next trip to the studio to finish off the edits, I’ll put the ebook version on special offer for a week and see if I can introduce new readers to the trilogy. Maybe some of the millions of Lake District and Cumbria visitors will enjoy the story, and deepen their interest in this wonderful region. I hope so.