Have you read this yet, about KDP Select driving down book prices on Amazon? It's pretty startling and eye-opening stuff about KDP Select and price points - backing up, in many ways, the advice Ruth Ann Nordin and others espouse. BTW - in my small way, I'm kicking Amazon in the shins by not participating in KDP Select.
This link takes you to the article "KDP Select’s Impact on Amazon.com’s Book Sales Price Point"
http://www.digitalbookworld.com/2012/kdp-select%E2%80%99s-impact-on-amazon-com%E2%80%99s-book-sales-price-point/
Very timely, as I was struggling with the rationalization of bailing on the $2.99 pricing that I've maintained for 2 years. This article provided support for my decision to lower my prices to US$.99 and "free," as consumer demand for lower prices amid a glut of product are the natural economic forces driving prices toward "free."
Although fine in the short run, I can't make a living giving away my books. I see two outcomes from this: Just as the lousy economy drove housing prices downward amid a glut of available homes, discouraged career and part-time authors will leave the writing profession because they can't make a living by publishing free books, so demand for quality books from a shrinking available pool will eventually drive prices back up. This is a simple cyclical principle of economics.
If this isn't the long-term result, however, then another publishing model must rise from the ashes of indie and legacy publishing (not likely Bilbary). What an exciting time it is to be an author, don't you think?
Good night from Australia.
LC
Ha ha! I feel vindicated! That was what I said the outcome would be after the first three days of KDP select and the big "free" boom. I have noticed an amazing decline even in the number of downloads on my free "list book" on Amazon. I was giving away about 900 - 1,000 a month steadily and since KDP Select started it has dropped to around 600 last month and last time I checked I was at 400 this month. When everything is free, why pay for it?
ReplyDeleteI already price my first book at $.99 and then the others are... um... I don't remember. $1.50 or $1.99 - something like that. I think that says something about my business model....