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Originally Posted by stonetools
"The List" is now selling at $2.99. That's pretty much proof positive that Konrath believes that he can make more money selling it at a permanent price of $2.99 than at $0.99. He is the publisher and therefore has complete control over the price.
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No, I'd say he realises that having got onto the top 100 lists and having increased visibility, he trade on that and can make more money in the short term by raising the price again. As he sinks back down the lists, that money will reduce again.
We also need to realise that we are talking about someone who prices his books at $2.99 to start with, hardly high prices, and that by reducing them to 99c he only gets 35% rather than 70%, but
still made more money at 99c. For someone starting at say $6.99 and going down to $2.99 that wouldn't apply.
Konrath is firmly in the lower prices make more money group, or
in his own words:
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7. You're priced too high. Value has nothing to do with the cover price. it has to do with how much money the ebook makes. And lower prices sell many more copies and usually make more money.
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http://jakonrath.blogspot.com/2011/0...ohn-locke.html
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Joe: Which, at this moment, you are. This fascinates me, because when Amazon began offering 70% to ebooks priced $2.99 and up, a lot of people considered staying at 99 cents to be slumming.
Which was naive. Coming from a legacy publishing background, I knew that 35% royalties were much better than anything the Big 6 offered. Even so, when I first got into this, I thought that cheap ebooks would be a loss lead, that would get people to read my more expensive books.
And yet, when I lowered the price of The List from $2.99 to 99 cents, I started selling 20x as many copies--about 800 a day. My loss lead became my biggest earner.
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Oh, and:
http://jakonrath.blogspot.com/2011/0...update_15.html
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The concept of putting items on sale has served retailers well. I'm thinking that my new sales strategy will always have one or two novels at 99 cents, and then rotate the titles monthly.
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