Quote:
Originally Posted by DMcCunney
If the market for a book is 50,000, and I can sell 50,000 copies priced at $10.00 each, what happens if I cut the price to $7.50 or $5.00? Do I magically conjure new readers out of nothing because of a lower price?
Dennis
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Actually, you just might.
There is a price I'll pay for an ebook from an author I know I love, and a price I'll pay to take a chance on a new author or a new series. If the price is really low, I'll take more of a chance. Freebies on the first book of a series will also get me mighty interested. And if it holds up, and is enjoyable, then I'll have a price in mind I'll pay to read the rest of the series. And that will vary compared to how hooked I get on it.
I belong to an online used book club where you can trade used books for the price of media mail. Because it's much cheaper than buying new books, and in a lot of cases buying used books from a used book store, many people build up credits and find they're trying new authors and new genres they wouldn't have though of trying before, because it's cost effective. They haven't lost much if they find the book they bought is only good for the trash can. Even then, they can trade it back into the site for another book, thus cutting their loss on it.
Everyone's price on taking a chance is different, but if it's low enough you might find a lot more people taking a chance on your low priced book.