Well, as you may have noticed if you read this blog, I’ve got a book on Kindle market.
Yes, I thought I noticed you noticing.
But in a weird situation for someone who has a pathological hatred of maths and marketing, I’ve had to devote a bit of time to thinking about such strange things as profit margins and advertising.
Initially, when I put Blood and Fang up for sale, I put it up at amazon’s recommended price of £1.99. That was giving me a royalty payment of about £1.30 per book – a healthy margin, and one that would pay off my domain name registration and mapping costs pretty quickly.
Within two days though, I was regretting that pricing decision. Blood and Fang is fifty-four pages long. As much as I’m happy with it, I didn’t think people would be comfortable paying that much for a relatively short novella.
After wrestling with the decision all weekend, on Monday I decided to drop the price to 99p. Since then, with the exception of today, ironically, I’ve made a sale everyday. For a first book from an unknown author I’m pretty dang happy with that record.
Ironically, though, with eleven books sold I’m still £5 short of breaking even in my costs. I knew it would be like that – I only make 29p from each sale at the 99p pricing – but it’s still a little bit galling.
The whole idea behind the price drop was to increase the books exposure over profit – at the moment the amount of sales is more important than the amount of money I’m getting. I’m not entirely sure it’s been successful in that. The hope is that once Hungry Mountains goes up, the sales will start ticking in. I’ve been at this less than a week after all.
Anyways, back to work we go!