ahpellett
Full Member
Read "Sleeping in Snow with Bears"
Posts: 117
Joined: Mar 28, 2012 14:04:26 GMT -8
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Post by ahpellett on Jun 23, 2014 8:32:47 GMT -8
I feel my ebook price is right, but some of you had implied there was a lower more popular price point for Smashwords books. I'd like to TRY lowering my price to see if it makes a positive difference in my revenue stream. Problem is that doing so can trigger other retailers like Amazon to lower the price too (which is okay in the short run).
If I then wish to raise my price back to where it had been and do so at SW, can I expect these other retailers to follow suit and raise the price back on their respective sites, or am I stuck with the lower price on some? What's been your experience?
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serbanvcenache
SWF Writers
Posts: 712 
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Post by serbanvcenache on Jun 23, 2014 8:41:53 GMT -8
Yes, the other retailers will update the price. Don't know how speedy the process is, Ted, Gary, and the others might know more on this. But you have to keep in mind that certain ebook stores have readers with different mind-sets, or values. The Amazon crowd might assume .99 as cheap crap. Other readers from other places might see it as price opportunity to try something new without incurring financial loss. Try a lower price (0.99) and see how that reflects in sales; ultimately, it may not prove worthwhile profit-wise... but you might get some reviews and word of mouth into motion.
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Post by Ted on Jun 23, 2014 10:36:01 GMT -8
It's probably best to stay within the range of your competitors. I think most authors, whether using Smashwords or not, price their ebooks competitively. New authors often price ebooks lower than more stable or established authors within their genre, but that helps readers find great ebooks at a reasonable price and helps new authors gain traction.
More/better marketing might be more effective over the long haul. Like Seran says, the Amazon Kindle crowd might assume .99 as cheap crap. My Amazon Kindle sales are atrocious compared to any other retailer, even scribd. Part of the reason is Amazon removed 5 of my puzzle ebooks and wouldn't accept any new ones as they weren't puzzle apps.
Another thing to consider is the percentage of returns of your sales. An abnormal ratio of returns to sales may indicate too high a price (underachieved perceived value) or may indicate readers opinion on contents.
So far I've been lucky with returns, the only ones I get are returns of free ebooks on Amazon. But then my popular price of .99 cents is less likely to induce a person to return a work than if it were priced at $2.99, $3.99 or $4.99.
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Post by Ted on Jun 23, 2014 10:37:46 GMT -8
Retailers follow suit when it comes to pricing. Raise a price, in a few weeks the other retailers will have matched it. Same with lowering a price.
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chelsfield
SWF Writers
Posts: 700
Joined: Mar 28, 2012 3:07:24 GMT -8
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Post by chelsfield on Jun 24, 2014 0:04:47 GMT -8
It's probably best to stay within the range of your competitors. I think most authors, whether using Smashwords or not, price their ebooks competitively. New authors often price ebooks lower than more stable or established authors within their genre, but that helps readers find great ebooks at a reasonable price and helps new authors gain traction. More/better marketing might be more effective over the long haul. Like Seran says, the Amazon Kindle crowd might assume .99 as cheap crap. My Amazon Kindle sales are atrocious compared to any other retailer, even scribd. Part of the reason is Amazon removed 5 of my puzzle ebooks and wouldn't accept any new ones as they weren't puzzle apps. Another thing to consider is the percentage of returns of your sales. An abnormal ratio of returns to sales may indicate too high a price (underachieved perceived value) or may indicate readers opinion on contents. So far I've been lucky with returns, the only ones I get are returns of free ebooks on Amazon. But then my popular price of .99 cents is less likely to induce a person to return a work than if it were priced at $2.99, $3.99 or $4.99. Ted, I always learn something new with you! I hadn't realized there was the option to return. I can immediately see the potential for abuse, but I suppose it is no more different than returns to physical bookstores. |
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Post by jaydax on Jun 24, 2014 6:41:29 GMT -8
Amazon is slow to follow prices at Smashwords. I presume the don't see Smashwords as a competitor. They DO take notice of iTunes and B&N prices though and will price match almost as soon as they are advised of lower prices there.
If you want to experiment with your price, then why not keep the prices as it is and offer a coupon at Smashwords to bring the price to your test price. Since the coupons only work at Smashwords the other retailers shouldn't change their price. Your readers may see this as a special deal too.
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Post by Ted on Jun 24, 2014 6:49:31 GMT -8
I believe Amazon states the retailers they monitor for price movements. Smashwords wasn't on the list when I checked it, but then Smashwords is not a retailer with their own ereader device or other digital device as much as it is an ebook distributor.
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Post by galatea on Jun 24, 2014 10:25:29 GMT -8
Been waiting for a year now for Amazon to match prices with iTunes.
Just to say they have an arbitrary way of working.
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Post by Ted on Jun 24, 2014 10:32:05 GMT -8
Each ebook on Amazon has a link for "tell us about a lower price". Post here the URL for a lower price found on iTunes or elsewhere and I'll click on the Amazon link. Might be good if other members do to.
Do we need a separate thread for 'Amazon price matching' or something similar so members can have one place to list requests for price matching on Amazon?
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sunwell
New Member
Posts: 14 
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Post by sunwell on Aug 15, 2014 12:58:00 GMT -8
If you want to experiment with your price, then why not keep the prices as it is and offer a coupon at Smashwords to bring the price to your test price. Since the coupons only work at Smashwords the other retailers shouldn't change their price. Your readers may see this as a special deal too. This is exactly what I was going to suggest. It would give a perceived deal to people interested in purchasing your book, but you wouldn't have to worry about price-matching on any other sites since you aren't lowering the base price. Good luck on whatever you decide - would be interesting to hear the results of your price tests. |
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sunwell
New Member
Posts: 14
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Post by sunwell on Aug 15, 2014 13:01:39 GMT -8
Been waiting for a year now for Amazon to match prices with iTunes. Just to say they have an arbitrary way of working. If you message me the link to your story on Amazon as well as on iTunes, I would be happy to report to them the lower price for you. That usually helps to get the ball rolling. |
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sunwell
New Member
Posts: 14
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Post by sunwell on Aug 15, 2014 13:04:04 GMT -8
Do we need a separate thread for 'Amazon price matching' or something similar so members can have one place to list requests for price matching on Amazon? If there was one, I would be happy to assist anyone who posted in it! |
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Post by jaydax on Aug 15, 2014 14:27:38 GMT -8
It seems to take about 3-5 days for Amazon to pricematch. They take little notice of Smashwords prices, presumably they don't see them as competition. They do take notice of B&N and iTunes prices though. Post the link to your book at Amazon and the B&N and iTunes links. The more people who notify them of lower prices the faster they will pricematch. It also helps if you create a website page something like this and especially a graphic like the one at the bottom www.avestedinterest.info/GetBook1ImmortalityGeneFree.htm |
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