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Raising price of kindle book

by SunilTanna
9 replies
I'm currently selling my kindle book for 2.99. Volume has dropped quite a bit after the initial rush. On uk I have 3 five star reviews, and 1 two star. On USA I have 2 five stars.

Thoughts about increasing volume and/or price?
#book #kindle #price #raising
  • Profile picture of the author Paul Gram
    You should always test different price points for your book, even when sales are going good. Test both higher and lower price points until you find the perfect price.
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  • Profile picture of the author Amy Harrop
    You can also try price-pulsing, drop the price for a short period of time, and when the demand increases, gradually raise the price again. This also works well in combination with a give-away or .99 day or two.
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  • Profile picture of the author MyNewMama
    Like anything in business, the best thing to do is test it. Customers or consumers will often times surprise you, so testing it out for a clear answer is really the only sure way to know what works best for you.
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  • Profile picture of the author LockhartW
    It's also worth remembering that a price which is considered high for one niche may have a much higher conversion rate for another niche. This is particularly true in terms of making money, internet marketing etc. People are often willing to pay more if they think it will help them lose weight, make money, attract the opposite sex etc.

    But as others have said, the only real way to know is to test it.
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  • Profile picture of the author Elvis Michael
    Funny you posted this, because I have the same pricing dilemma with a book i co-wrote recently.

    It's selling over 1,800 monthly copies at 99 cents. I obviously appreciate the money it's making right now, but I also think of the possibilities. Ya know.... the fact that it would make twice as much at $1.99, and even more at $2.99.... MUCH more.

    The thing is, I'm REALLY afraid of the book losing its current rank, in the event a price increase backfires. As many of you know, once a book loses its rank it can be tough getting it back. At least I think....

    So I've been wondering all month long: Should I play with fire? Should I fix something that doesn't need much fixing?

    Umm..... Guess I might try what some of you suggested and increase the price for a very short period to $1.99, followed by $2.99. Then....I pray.
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    • Profile picture of the author JohnMcCabe
      [QUOTE=Diablo2;7760302It's selling over 1,800 monthly copies at 99 cents. I obviously appreciate the money it's making right now, but I also think of the possibilities. Ya know.... the fact that it would make twice as much at $1.99, and even more at $2.99.... MUCH more.

      The thing is, I'm REALLY afraid of the book losing its current rank, in the event a price increase backfires. As many of you know, once a book loses its rank it can be tough getting it back. At least I think...[/QUOTE]

      One thing to keep in mind. You won't lose your rank instantly. Plus, unless someone has been tracking your price (waiting for a freebie promo or something), they won't know the pricing history. All they'll know is that it ranks [whatever] and costs $x.xx. For all most people will know, every copy that garnered your rank sold for the price listed on the page.
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  • Profile picture of the author Elvis Michael
    Good point (as usual) John, thanks. I'll probably take a leap of faith at the end of the month. I'd have a heart attack if sales suddenly end up around $3,500+ in March (if selling at $2.99.)

    P.S. I always notice that the rank is around #1,400 to 1,500 on the weekends. During the week, it goes as high as #1,800 --- and to be honest, this is the part that scares me. If it goes up by #400 so easily, then it could just as easily go up to #3,000+ with a price increase.

    But again, the above is only theoretical. Maybe people will surprise me and find the book more valuable.
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  • Profile picture of the author Tiptopcat
    My sales are nowhere near the numbers quoted above but I had one book priced at $2.99. It didn't sell too many so I dropped the price to $0.99. Sales picked up, people were also borrowing it.

    Naturally I upped the price again when I saw the steady sales. The book stalled again.

    The Conclusion in my case: Perfect price point for this particular book is $0.99.

    That's the great thing about Kindle. You can experiement with your pricing in order to find that perfect sales point.

    Good luck with your quest.
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  • Profile picture of the author bkkmma
    Sometimes higher prices will actually convert better. It's something you should always be testing
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