Charging $60 or $70 for an eBook sounds absurd and I’m safely guessing is mostly unheard of these days.
Heck, I think charging $25 for an eBook could even raise a few eye-browse.
Unless of course, the content is so darn good that one is compelled to pay that kind of money for an eBook.
Anyway, eBooks are not meant to cost big bucks, even the most valuable eBooks cost less than $20 these days.
Why are eBooks priced cheaply?
If you take a look on Amazon.com for instance, you’ll find a monumental amount of eBooks for sale, all with prices ranging from $2 to $20 and more.
I’ve purchased many eBooks from Amazon myself over the years. I’ve also purchased eBooks from other sites such as Payhip, 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 been more valuable than eBooks I’ve paid $9 and $12 for.
So why on earth are eBooks so cheap to buy these days?
Because the cost almost nothing to create…
That’s right, and the other reason being the competition is way too high, so eBooks cost nothing to make.
Perhaps it might cost a little bit if you have to outsource someone to write it for you, and someone to edit and format it for you, but other than that there’s nothing else.
There are no printing costs, no publishing fees involved, no postage and packaging costs to worry about, literally, anyone can start writing an eBook even with limited technology and resources.
So with some of these factors to bear in mind, how much should you charge for your eBook?
Below are five questions to ask yourself about your eBook. Take a look at each one of them, as I think answering them will put you in a better position to price your eBook properly.
#1 – How much did it cost to produce your eBook?
If you hired someone to write your eBook content, and then someone else to format it for you then I’m sure you’ve incurred some costs.
What about proofreading and graphic design for the eBook cover? You must also take these into consideration.
If you’ve written your eBook yourself, including creating artwork and proofreading, then your cost will be zero. This is great because whatever you decide to sell your eBook for will be all profit.
#2 – How ‘unique’ and ‘valuable’ is the content in your eBook?
What really makes your eBook unique? A stand out from other similar eBooks out there?
Here are some things that might make your eBook unique and valuable –
- It addresses and solves a particular problem.
- It contains views, opinions, insights and knowledge on a topic.
These are valuable attributes, so make sure you consider them when pricing your eBook.
#3 – How much content does your eBook have?
Another factor to consider is the amount of content your eBook actually has.
If your eBook only contains 20 or fewer pages, it would make sense to price it low.
If your eBook contained let’s say, 80 to 100 pages, then it might be worth a bit more, let’s say $6 to $9.
If your eBook is 200 pages or more, then you could consider $12 to $20
Regardless of the number of pages your eBook has, this is just a guide to go by. Your eBook may only have 50-pages, for instance, but if the content is super high-quality, then a high price might be justified.
#4 – How much will your eBook cost to sell?
A lot of people don’t think about this question carefully enough.
If you’re promoting and selling your eBook on your own blog or website, and you’re taking payment through PayPal, for instance, then you’re probably not going to incur many charges, except for the PayPal fees maybe.
But if you do this, you then have to think about a few other logistics, such as registering and paying EU VAT, and how you’re going to deliver the eBook once it’s sold.
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 using PayHip to sell my eBooks because the fees are extremely low, and they take care of the EU VAT for me.
Check out this post I wrote with information on where to sell your eBooks online.
#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 it received by your audience, and what sales did you make?
‘Research’ and the ‘trust factor’ plays a huge role in finding success with selling your eBooks online.
The trust factor is something you have to build up with your blog and your audience over time.
If no one really knows who you are or what your blog is about, for instance, they may not immediately be interested in purchasing your eBook.
You first have to gain the trust of your readers before you sell to them, and the best way to do that is by shocking them with your amazing blog content.
Here’s a good tip, if you’re publishing your first ever eBook, consider pricing it low first and then gradually increasing 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 keep in mind when deciding on how to price your eBook –
- How much did it cost to produce your eBook?
- How unique or valuable is the content inside your eBook?
- How much content does your eBook have to offer?
- Hoe much will your eBook cost to sell?
- Is this your first eBook publication?
Knowing the answers to all of these questions will definitely help you come up with a good price for your eBook. Whatever price you decide, make sure you stick with it.
If you really think your eBook is worth $20, sell it for that and don’t look back. If you think it’s only worth a few Dollars, start with that and then increase it over time.
With a little bit of research and testing, you’ll get there.
Here’s one last tip for you: Take a look at some of the titles similar to your eBook on Amazon, and see what prices those authors have set their eBooks at. Best of luck to you.