About a month ago I found an article by Mark Coker (founder of Smashwords) on Huffington Post.
Coker was publishing the results of a study he did about book sales. I always test my book pricing, but because of Coker’s results, I ran one more set of tests and am thrilled by the results.
According to Coker’s research $3.99 is the most profitable price point!
“One surprising finding is that, on average, $3.99 books sold more units than $2.99 books, and more units than any other price except FREE. “
In my tests I increased the price of half my books to $3.99 (from $3.27) and found that sales remained steady … which means I am making MORE money without losing ANY sales volume. Very Cool.
What about you? Do you TEST the price point on your books? Sometimes I can see the results in a week or two, but most of the time I run my tests for at least 30 days and chart the results. If you have any challenges at all with your book sales, be sure to TEST everything: the price and book covers are among the easiest to test.
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