Charging $60 or $70 for an eBook sounds absurd and I’m safely guessing is mostly unheard of these days.
Heck charging $25 for an eBook could even raise a few eye-browse. I mean, yes I appreciate that the content might be extremely useful and valuable and everything else, and one might feel compelled to charge extortionate amounts of money for it. But who’s going buy an eBook that costs $25 or more these days?
Not a great deal of people I imagine. I’d love to hear your thoughts on this.
eBooks are often priced cheaply
These days, eBooks regardless of their quality, usefulness and fancy cover design, or quantity of content, are often priced small.
Take a look on Amazon.com for instance, you’ll find a monumental amount of eBooks with varied prices from $2 to $20 and more.
I’ve purchased many eBooks from Amazon myself. I’ve also purchased eBooks from other sites, but most of them have been for just a few dollars, with the odd one for maybe $9 or $12.
To be really honest with you, more often than not, I’ve found eBooks that I’ve paid just a few dollars for, to have given me more value than eBooks I’ve paid $9 and $12 for.
So why on earth are eBooks so cheap? Here’s why!
eBooks cost almost nothing to create…
That’s right, and the other reason being ‘competition’.
You see, creating eBooks comes with almost zero overheads. Maybe so if you outsource someone to write it for you. You may incur some fees then, but what else is there? Think about it.
There’s no printing costs, no publishing fees involved, no postage and packaging costs to worry about. Anyone can start writing an eBook with limited technology and resources.
So with some of those factors in mind, how much should you charge for your eBook?
The checklist I’ve compiled below should provide you with some critical points to bare in mind, and should help you make a better decision on how to price your eBook effectively. Let’s get started.
#1 – How much has your eBook cost you to produce so far? – So the first factor to bare in mind when deciding how to price your eBook is ‘costs and fees’. Have you paid someone to write, proofread or carry out eBook cover art design etc? If you have then you need to consider these when pricing your eBook.
If you’ve chosen to create your eBook yourself from start to finish, that’s without outsourcing or spending any money, you’ll have incurred no costs, that’s pretty obvious right? In which case what ever you price your eBook at, and what ever sales you end up making, all of it would be profit.
#2 – How ‘unique and valuable’ is the content of your eBook? – What really makes your eBook unique? A stand out from the rest?
So in my opinion an eBook that aims at ‘solving a problem’ might be considered something unique and valuable. In addition, an eBook that offers the author’s perspectives, i.e, personal thoughts and insights, knowledge and experience, can also add to value.
#3 – How much actual content does your eBook provide? – Another factor to consider is the amount of content your eBook offers. If your eBook only contains 20 or less pages, it would only be common sense to price it more affordably, maybe within the few dollars range. If your eBook contained let’s say, 80 to 100 pages or more then it might be worth a bit more, let’s sat $6 to $9.
However, just because you’ve written 20-pages, this doesn’t mean that it is less valuable than if it were 80-pages long. It’s all about quality and not quantity right? So bare this in mind. If you can provide quality in good quantity, then you’re onto a winner already in my opinion.
#4 – How much is your eBook going to cost you to sell? – A lot of people don’t think about this one. If you’re promoting and selling your eBook on your own blog or website, and you’re taking payment through PayPal, once again you’re probably not going to incur many charges, except for the PayPal fees of course.
However, if you’re going to use a third party ecommerce platform such as ClickBank, JVZoo or eJunkie perhaps, then you’re probably going to incur some fees for using these services. Again, take this into consideration when pricing your eBook. I’ve used eJunkie in the past as they don’t take a commission on sales, just a monthly membership fee. These days I’m using PayHip and Amazon.
Click here for more information on where to sell your eBook.
#5 – Is this your first eBook? – What should that matter you’re probably wondering! Well if this isn’t your first eBook, think about the last eBook you wrote. Ask yourself, how well, or not so well, was is received, and what sales did you make?
Research and the trust factor plays a huge roll in finding success with selling your eBook. The trust factor is something you have to build upon with your blog and your audience over time. If no one really knows who you are or what your blog is about, they may not immediately be interested in purchasing your eBook.
Here’s a good tip: If you’re publishing your first ever eBook, consider pricing it low first and then gradually increase the price over time, especially as you begin to see a few more sales coming through.
Right, so let’s do a quick recap of the things to bare in mind when deciding on how to price your eBook –
- Consider how much your eBook cost you to create.
- Consider how unique, how much value and how useful your eBook is to your target audience.
- Consider how much content you’ve created for your eBook.
- Consider how much your eBook is going to cost you to sell.
- Consider the trust factor, and whether you’ve done your research well enough.
These are just a few things I think you need to consider when thinking about price structuring your eBook. What ever price you decide on though, stick with it.
Sometimes it’s difficult to try and figure out just how much you should charge for an eBook. Too high and people might get put off. Too low and people might think it’s not very good. The best possible advice I can give anyone is: research, research, test, test.
Look at titles that are similar to yours and see how much those authors are selling their eBooks for. Best of luck to you.