Kindle pricing strategy...

23 replies
Question for the Kindle gurus....
What are your thoughts on giving a book away for 24hrs or a certain time period then adjusting the price up to 2.99 or 3.99 moving forward?

Is this strategy doable in terms of amazon and their rules?

Is it suggested by any?
#kindle #pricing #strategy
  • Profile picture of the author tpw
    Yes, if you enroll in KDP Select, you will be able to set 5 days in 90 days as "free days". Your pricing will not be affected by your "free days".

    You should set your own prices as you see fit to do.

    Pricing is not a question of whether you have "free days" or not, but rather it is a question of what price you think will help you make the greatest profits.

    You can change your price daily or never, if you want. I test different prices for my books frequently, in an effort to find out which price works best for my books.
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  • Profile picture of the author Afreidman
    Hey Womendollars

    Best practices in my opinion:
    1- use 1 free day at a time - if you use up all your free days at one shot your download rate will go down drastically on day 2,3,4 and 5 because it will be perceived as if it's always free. I would try different days as well to see how many downloads you get.

    2- Try to price either lower than your competition or a bit higher and see what happens.

    3- You can change your price every day, amazon won't care. Just remember your book will be offline for about 24 hours each time you make a change in your book.

    4- Test, test, test - don't be afraid to change your cover image, description and even first chapter to make it more enticing for your potential readers!

    Good luck
    Ari
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  • Profile picture of the author PaulLester
    With the KDP select program,you can run a free promotion for 5 days.You can use these days in one go or intermittently as you like.

    Running a free promotion can give you a fast start in terms of user reviews.You are much more likely to get a positive review by giving something away than charging for it.

    As you are just starting out,running a free promotion of at least 3 days intially is a great idea.Once you have enough no. of positive reviews,start charging for your product.

    As far as the price is concerned,keeping the price low in the beginnig and increasing it gradually is what has worked for me.Test different price points to see which one generates the highest profits.
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  • Profile picture of the author womendollars
    I have a book which I've invested about $450 so far to be released. This book sale will be exclusive and it will not be available online anywhere but through Amazon Kindle. The content is 100% exclusive as well.
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  • Profile picture of the author Tony Humble
    Banned
    Yes. You will be able to get reviews (if your kindle ebook is good, that is), and that can boost sales.

    It's like free app a day on iPhone / iPad.
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    • Profile picture of the author aprilm
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      • Profile picture of the author Liesel
        I didn't use Select and I don't think I ever will. I wrote a book under a brand new author name and it is in a genre that people gobble up. I have had consistent sales from day 1. The key to sales is to write good material that buyers are looking for. I would never give away my books for free. Free downloads do not always translate to CONSISTENT paid sales. You may get a few paid sales after the free promotion is over, but you want to have consistent sales. The best way to do that is to provide good material and to repeat the process.
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        • Profile picture of the author travlinguy
          Originally Posted by Liesel View Post

          I would never give away my books for free. Free downloads do not always translate to CONSISTENT paid sales. You may get a few paid sales after the free promotion is over, but you want to have consistent sales.
          ^^^ This. It's what kept me away from selling on Amazon for more than a year. But I've found that it's about 99 percent wrong. Amazon is such a massive marketplace it's almost impossible to saturate it. So it does make sense to give some of your stuff away. And like you've mentioned, if you're offering quality stuff (funny how that's always the operational nugget for real success) people will leave reviews and tell others.

          The strategy is not to give your stuff away forever. Freebies prime the pump. I can't tell you how much I've learned reading John Locke's book, How I Sold 1 Million eBooks In Five Months. He outlines a very workable plan and part of that plan is to give your stuff away until people are transformed into buyers.

          It's smart to create several high quality "teaser" books at first. Then, as others have mentioned, offer some of your best stuff for a day or two at a time. The more titles you have the better as you can rotate them as your books climb in rank. All the while you're actively promoting on Twitter, FB and other social media.
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          • Profile picture of the author Liesel
            Originally Posted by travlinguy View Post

            ^^^ This. It's what kept me away from selling on Amazon for more than a year. But I've found that it's about 99 percent wrong. Amazon is such a massive marketplace it's almost impossible to saturate it. So it does make sense to give some of your stuff away. And like you've mentioned, if you're offering quality stuff (funny how that's always the operational nugget for real success) people will leave reviews and tell others.

            The strategy is not to give your stuff away forever. Freebies prime the pump. I can't tell you how much I've learned reading John Locke's book, How I Sold 1 Million eBooks In Five Months. He outlines a very workable plan and part of that plan is to give your stuff away until people are transformed into buyers.

            It's smart to create several high quality "teaser" books at first. Then, as others have mentioned, offer some of your best stuff for a day or two at a time. The more titles you have the better as you can rotate them as your books climb in rank. All the while you're actively promoting on Twitter, FB and other social media.
            I know some people think giving away their work is beneficial and it probably works sometimes for some people. I'm just not willing to do it. If you price your first book low, you can reel in readers and adjust pricing on your other books accordingly. This has worked for me very well. I made just over $12,000 last month and I'm sitting at just over $8,000 so far this month. That was with a new pen name and giving nothing away for free.

            And by the way, John Locke paid for reviews. I didn't pay for one review.
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            • Profile picture of the author travlinguy
              Originally Posted by Liesel View Post

              I know some people think giving away their work is beneficial and it probably works sometimes for some people. I'm just not willing to do it. If you price your first book low, you can reel in readers and adjust pricing on your other books accordingly. This has worked for me very well. I made just over $12,000 last month and I'm sitting at just over $8,000 so far this month. That was with a new pen name and giving nothing away for free.

              And by the way, John Locke paid for reviews. I didn't pay for one review.
              Whether he paid for reviews or not isn't the point here. I'm not suggesting you should do anything. I merely pointed out that I felt just like you did and discovered I was wrong. In a market that's highly competitive you sometimes need to compromise to gain a foothold. Maybe you're in a much narrower market. Perhaps if you were willing to try it your $12K could have been $24K or even more. Still, if you're happy with your results that's all that matters.
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            • Profile picture of the author epublishingtips
              I completely understand where you're coming. I've been publishing my stories on Amazon for about a year now so throughout that time I've tested out quite a few things, especially regarding pricing.

              The only time that I've ever seen "free" work for me is when I gave away copies of the first book in a series, but even then it was hard for me to do it and I only did it for a few days. I just couldn't justify giving my books away.

              But I'm a little different than most. When everyone jumped on the $0.99 bandwagon and sold their stories for peanuts I refused to lower from $2.99. In turn I was driving in $5000 a month in royalties starting in month #2 of publishing and now, a year later I'm doubling (sometimes tripling) that a month. And without KDP Select - and certainly without free.

              So to each their own! It's important to test things out and see what works for you. Every audience is different.



              Originally Posted by Liesel View Post

              I know some people think giving away their work is beneficial and it probably works sometimes for some people. I'm just not willing to do it. If you price your first book low, you can reel in readers and adjust pricing on your other books accordingly. This has worked for me very well. I made just over $12,000 last month and I'm sitting at just over $8,000 so far this month. That was with a new pen name and giving nothing away for free.

              And by the way, John Locke paid for reviews. I didn't pay for one review.
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              • Profile picture of the author travlinguy
                Originally Posted by epublishingtips View Post

                But I'm a little different than most. When everyone jumped on the $0.99 bandwagon and sold their stories for peanuts I refused to lower from $2.99. In turn I was driving in $5000 a month in royalties starting in month #2 of publishing and now, a year later I'm doubling (sometimes tripling) that a month. And without KDP Select - and certainly without free.
                I'd be seriously interested in learning what you and others are doing to get results like this.
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                • Profile picture of the author Cee
                  Originally Posted by travlinguy View Post

                  I'd be seriously interested in learning what you and others are doing to get results like this.
                  Yes, I find it rather amazing that people are selling so many books in only a short time and with apparently no previous exposure, as in the case of the poster who made $8,000 a month under a completely new pen name.
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  • Profile picture of the author Amy Harrop
    If you don't do KDP select, you can also try doing special sale days on KDP at .99 that way you'll get buyers for your book, not just freebie-seekers.
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  • Profile picture of the author msu
    Just to correct something said earlier - when you makes changes to your book, whether it's the price, cover or contents or anything else it continues to be available for sale. Once it's in the store it's only removed if you choose to unpublish it.

    That said, it does take a few hours for the changes you've made to make it through to all the stores.
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  • Profile picture of the author Paul Gram
    You can definitely do that. One of the little tricks to making the most out of it is to make sure you have at least 2-3 non free books available at the same time as well.
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  • Profile picture of the author techbul
    If you use the Kindle program, you could setup samples, so the reader could get access to some chapters and if he or she likes it, they are going to buy it.
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  • Those free days are super important, use them strategically and make sure to not finish them all. You can schedule a free day on a day when you promote on twitter and solicit RTs from influencers in your niche or through a blog giveway. The more free copies you give the better you look on the listings, which is all that really matters.

    When hundreds download your book it will push you up the listings (of free books) and only slightly on the paid listings.

    Another strategy i saw was having a free book and a paid book, both of high quality and niche appeal. The freebie will soar in the listings and the serious readers will always click-through to the paid one.

    Never feel like you're wasting money in this business by giving things away for free, we are in an eternal industry and every action you take now just sets you up for a better and more lucrative future.
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  • Profile picture of the author Fun to Write
    I do use KDP Select and do periodic free giveaways. I've had various success with it. Each person will view the freebie promotions differently according to their own experiences. The benefits of the boost is going to depend on the appeal of the book category, title, cover, etc. and the amount of downloads it gets during the promotion.

    As for pricing, I always do 2.99 on up. I don't recommend using .99 unless you are promoting the first book in a series. There's evidence that Amazon has pushed down the exposure for .99 books.

    You can do whatever you want regards to pricing, so test and see what works for each title.
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  • Profile picture of the author Bryan Kumar
    Another popular strategy is to raise the price just before you offer the book for free.

    That way, the listed price shown (during your free giveaway period) will create a higher-perceived value for your book.
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  • Profile picture of the author JabMonkey
    Originally Posted by womendollars View Post

    Question for the Kindle gurus....
    What are your thoughts on giving a book away for 24hrs or a certain time period then adjusting the price up to 2.99 or 3.99 moving forward?

    Is this strategy doable in terms of amazon and their rules?

    Is it suggested by any?
    DO IT! Give it away free for awhile...then you are on the list of top freebies maybe...then when it's OVER you got some free reviews and then make bank....it's a good strategy, my friend, so go for it...you got the right idea.
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    • Profile picture of the author Kellie Dixon
      If you are going to enroll your books in Select and run a free promo consider pricing up your book first so that potential readers see a huge savings.

      Also, consider KDP Select carefully because once you push a book into the program it's locked in for 30 days. For many self publishers (like me!) I make way too much money publishing on other markets to give Amazon exclusive rights. For others (those who find that their books are only really selling on Amazon anyway), it might be a viable option to kick-start sales.
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