It’s “add your name here”, with your third lesson Kindle Publishing for Beginners crash course. Today we’re going to talk about setting the perfect price that will increase your bottom line for your new Kindle book so you can begin making sales and enjoying your profits right away.
We’re going to pick up where we left off in your last lesson. Once you have written, proofread and uploaded your book to the KDP for conversion, the next steps will be to write your product details, set your selling price, and publish.
Even though the Amazon Kindle Store is a relatively easy way to profit and increase your bottom line from your writing talent, keep in mind that there are no guarantees. Just because your book is available for sale, it does not mean it will sell.
Make Your Kindle Book Appealing
That’s why it’s up to you to do everything possible to ensure the book is as appealing to consumers as possible.
Of course, it is important to have a good book and a catchy cover, but the setting the right sale price Is an extremely important factor to consider to increase your bottom line.
Unfortunately, many first-time Kindle authors make a costly mistake. That mistake is charging too much for their book. So, how much should you charge for yours? It depends; there are a number of factors to take into consideration before settling on your final price point.
Factors to Increase Your Bottom Line on Kindle
- Length
Ebooks come in a wide variety of different lengths. For instance, most fiction and non-fiction novels are at least 200 pages. On the other hand, how-to guides can be as few as 50 pages.
The length of your book should have an impact on your price. The shorter the book, the less you should charge. For example, a good selling price for a how-to book on doing your part to combat global warming that is 50 pages long is $5.99.
- Competition
Whether you compose a how-to book or a novel for the Amazon Kindle Store, always be sure to check out the competition. Find your genre in their store or search for books with similar titles.
What is the average selling price? You don’t need to undersell, but opt for a price that is inline with the competition.
- Targeted market
For the most part, consumers are likely to pay more for novels. If writing a how-to guide consider your targeted market and how much they can afford to pay.
For example, a how-to book on saving money at the grocery store is designed for those looking to reduce costs and increase their savings. These individuals do not want to pay a lot for a book. After all, they are trying to save money.
Amazon gives you the ability to upload and covert print books. Let’s say you wrote and published a traditional book and have 100% rights to the title and you want to convert it into the Kindle format or sell it on Amazon with their print on demand feature.
You can visit the digital text platform and easily convert your documents. If you don’t have the original document in a digital format you can scan the book. If you take this approach, review your current or former pricing.
Amazon asks that print books receive fair market value rates. For example, if you sell the print version of your book for $14.99, you shouldn’t charge $19.99 for it on Amazon.
- Royalties
Amazon royalties vary depending on your choices. The minimum 35% royalty fee is standard, while there is the opportunity to earn up to 70% from each book sold.
While this may not seem like a lot, since you are the one that did all the hard work creating the book in the first place, the benefits of selling your book on a website as popular as Amazon.com coupled with the ability to reach your target market faster, far out way being able to keep 100% of the profits made.
Maximum Profit with Your Kindle Book
Just make sure that you’re selling at a price enables you to make a profit and increase your bottom line.
That’s it for today’s lesson. In your next blog post lesson we will be talking about how to market your Kindle book effectively, for maximum profits.
Make sure to read the previous two blog posts on selling your book on Kindle.
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