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Mark Coker, the founder and CEO of Smashwords, has posted the results of a survey and in-depth analysis based on data-crunching to come up with some fascinating recommendations on book pricing.
Book pricing is something that has intimidated me as a new indie author. Do I just go with the norm in the self publishing industry and price my book at $0.99 cents or $2.99? I chose in the middle, $1.99, but perhaps that was the wrong choice.
According to Mark Coker’s article I priced my Kindle CIA thriller into the black hole zone. It’s made me think. I was already considering raising the price of my book to $2.99, but my sales have been pretty consisting (averaging 22 book sold every day in April and over 40 book sales per day in the first week of May), so I’ve been hesitant to mess with it. But after reviewing Mark’s study and the fact that most books in my genre are in the $2.99-$4.99 range has convinced that I should at least test the $2.99 price point. I’ll follow up on the results.
Here is Mark Coker’s presentation.