Apparently it’s a day for J’s. The June giveaway winners are Janet for THE BOAT and Julia for BEE SEASON. Congra-julations! I’ll email you shortly for mailing addresses.
Thanks to everyone who entered.
If anyone wants to win ACROSS THE UNIVERSE by Beth Revis, PARANORMALCY by Kiersten White, or AS LONG AS WE BOTH SHALL LIVE by Lurlene McDaniel, hop on over to We Heart YA. Me and my crit partners have a fun and easy giveaway going there too. (Not too many entries so far, so your odds are good!)
I’m not sure if anyone is curious about this, but just in case, I thought I would update you on my ebook pricing experiment. In May, I (somewhat reluctantly) lowered the price of my ebook TWENTY-SOMEWHERE to 99 cents. My concerns were that this would show that I didn’t value my work (which I do!) or didn’t consider it to be of quality (which I do!). However, I also didn’t want to be too proud or stubborn to try something that has been successful for many writers. (Although fewer than the media would have you think.)
What I found was that I definitely sold more copies at 99 cents than I did at $2.99. However, because of the difference in royalty percentages (35% at 99 cents vs. 70% at $2.99) I would have had to sell SIX times as many copies to make the same (small) amount of money. I only sold about three times as many copies.
So. Midway through June, I decided to go back to my original price point. I figured I’d rather earn more money selling fewer copies — and entice people to actually READ my work, since anecdotal evidence suggests that many people “stock up” on “freebies and cheapies” but never actually get around to reading them.
(Case in point: I have like a dozen 99-cent-or-less titles on my Kindle. They have been sitting there for weeks, and will probably continue to do so until I find myself stranded without reading material for a long period of time.)
However, an interesting thing happened.
I use Smashwords as an intermediate to publish my ebook to Sony, Kobo, Barnes & Noble, and a few other retailers. Because of the extra steps involved, price updates to those retailers could take anywhere from days to weeks. (Interestingly, my price DECREASE went through immediately, whereas my price INCREASE has yet to propagate.) So right now, my ebook sells for $2.99 everywhere except Sony, Kobo, and… Amazon?
Apparently, even though I directly control the price of my ebooks at Amazon, they do a competitive price-matching thing. And to my pleasant surprise, I as an author am not penalized for that. Because I set my price at $2.99, I get the 70% royalty rate, even though Amazon is selling my ebook for 99 cents (which technically is supposed to only get a 35% royalty rate). So it’s win-win: I get the higher royalty rate, readers get the low low price.
What doesn’t change is that I don’t know if anyone is actually READING my ebook. It got another rating or two on GoodReads, but nothing at Amazon or the other online retailers. Bummer, but oh well.
So that’s where things stand now. I would like ALL the retailers to get back to the $2.99 price point, and I may have to send some support emails to Smashwords if I don’t see that happen soon. But in the meantime, this isn’t an awful compromise, and now I know some more about playing with the pricing and royalties.