One of the most difficult decisions you’ll make as an author is how to price your self-published book. It’s also one of the most common mistakes self-publishers make, so it's important to not look at pricing your book as an afterthought. Let's take a look at what factors to consider when pricing your book.
Before calculating your book price, consider your ultimate goal. Some authors write solely to make a profit from book sales, while for others, it’s a fun side project. Maybe your book is a marketing tool for your business or to attract speaking engagements. If your goal is gaining a following, setting a lower price to sell a larger quantity of books might be more beneficial. It just depends on your goals.
Look at the current market, focusing on similar books in your genre. How are these books priced? How does your book compare in length and printing quality? Think about what makes your book stand out. There’s no rule saying you must price your book the same as your competition, but doing a competitive analysis gives you a starting point and a price range to consider. Knowing what your readers are willing to pay for similar books helps you determine a comparable price for your own.
Here are some examples of market pricing for popular book genres:
Fiction:
eBook: $3.99–$5.99
Paperback: $13.99–$19.99
Nonfiction:
eBook: $5.99–$9.99
Paperback: $14.99–$19.99
Children’s Picture Book:
Paperback: $7.99–$14.99
Hardcover: $19.99–$27.99
With inflation on the rise, pricing is constantly changing to keep up with the price of materials. Many fiction paperback books have started to hover around the $19.99 mark. Always keep an eye on the market and adjust your prices accordingly.
Some authors will have their book prices evolve over time to meet certain goals. There are seasons to book sales, and capitalizing on the right moment could lead to greater success.
Here are three examples of strategic pricing:
Introductory price: Launch low for visibility (e.g., $12.99 paperback for 1 week), then raise to full price.
Price pulsing: Temporarily discount to boost ranking and run promos.
Psychological pricing: $3.99 feels cheaper than $4.00.
Keep in mind that when the price of a book changes, a new barcode will need generated to reflect the new price. If book content is ever updated, or the binding style changes, a new ISBN is also needed.
One of the easiest ways to determine your book price is using a book pricing formula. This first formula factors in how much you’re paying to print a single book, plus your ideal profit resulting in a suggested retail price:
Production Cost for One Book + Your Desired Profit = Retail Price
Another common formula to use as a rule of thumb calculates printing costs, multiplied by 2.5 as a profit margin to determine the minimum viable retail price:
Printing cost × 2.5 → minimum viable retail price
When determining your printing costs, it’s important to factor in all expenses:
Editing: If you need help finding an editor, check out these editors we recommend
Cover design: If you need help designing your cover, consider using our Create-A-Cover service, or we can create a custom design
Formatting: Utilize our free book templates and professional formatting services
Marketing: Check out these marketing resources or explore our blog for marketing topics on generating revenue and building your audience
Printing (for physical books): Determine your printing costs with our pricing calculator
Your price must let you earn a sustainable profit per sale.
The best way to ensure a healthy profit with your book sales is finding an affordable book printer. Ideally, you should partner with one that makes the self-publishing process quick and easy, so you don’t have to invest unnecessary time coordinating. 48 Hour Books offers affordable, high-quality book printing and binding services. Get your printing cost today.
If you want to know how to publish a book, our website is a great resource. Know exactly what to expect after you place your order by reviewing our detailed pre-press and production schedules, shipping schedules, FAQs and more. Through our blog, learn the ins and outs of publishing, including terms you should know and tips on marketing, design and other important publishing topics.
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Michelle Ellison July 02, 2020
How do I market my book prior to publishing to build up interest and potential customers?
48 Hr Books July 02, 2020
Hello! We recommend checking out our blog "Marketing Your Self-Published Book on a Budget" for marketing tips! https://www.48hrbooks.com/blog/58/marketing-your-self-published-book-on-a-budge