This month I decided to lower the price of the ebook copy of Red Mojo Mama to just $.99 as a holiday gesture. I expected there would be a bump in sales accompanying a lower price. Guess what? Not so much.
In fact, the lower price has not made any difference at all. Sales are ramping at the same pace as last month when the price was $2.99.
This shouldn’t have surprised me really, because I first offered RMM at $.99, following John Locke’s plan. When I realized I would have to sell 6 books to make the same amount of money as if I had sold one book at $2.99, I tentatively decided to try the $2.99 price. My sales did not suffer at all. They actually increased.
There has been a lot of talk on Twitter lately about pricing ebooks: from promotional free books to $.99 and then higher fees from $2.99 up. There is a divergence of opinion on the matter.
Free has worked for some authors in getting their names out there. Others feel free didn’t much impact on actual readers who then come back for more. The decision to price at $.99 seems to throw a book into the giant pond of books that some consider “less-than.”
I’ve personally priced two books at $.99 because they didn’t require the same level of effort as my novel – one is a collection of blog posts done over a couple of years and the other is a collection of short stories and poems written over a 10-year period. This seems fair to me. There are a number of single short stories out there for $.99 – which, again, seems fair to me.
I have made the decision that following the holidays, I will reinstate RMM’s price at $2.99 and it will stay there.
I’d love your feedback on this pricing issue. What do you think?