This weekend I went and did what I told myself (stubbornly of course) that I would never do. I dropped the price of my books. I decided that having not sold a book in at least two years, perhaps it was time to see what a drop would do. Like any author, I was constantly convincing myself that my books were worth at least something to me as far as getting a profit (however small that might be). When you sign up to sell via Createspace or KDP, you have to choose your royalty level before you put a price on it. Here is an easy breakdown for you.
At 70% royalty: Sell your book for $2.99 = $2.09 royalty
At 35% royalty: Sell your book for $.99 = $.34 royalty
Now, this is of course through the KDP (Kindle Direct Publishing) for digital books. For paperbacks you don’t really get percentage options. But you do have to make sure that you keep your price above the minimum required for your distribution channels. Expanded distribution (meaning it is made available for libraries, bookstores, etc) sets a minimum for you. Here is an idea for Createspace and paperback copies based on my books.
At $14.99 per book through expanded distribution = $3.22 royalty
At $10.00 per book w/o expanded distribution = $.23 royalty
If you want to get a 70% royalty through KDP for your sales, you can’t sell below $1.99. So I chose to go with $2.99…because it’s worth it, right? Don’t sell yourself short, and all that jazz. The only time I ever get downloads of my ebooks is when I run a free promo (which I will be doing this month before Christmas again). So I threw the towel in and decided to drop my ebooks down to a whopping $.99. I then got rid of expanded distribution because the likelihood of it being sold into a library/bookstore is minimal and then dropped all my prices. My kids books went from $8.99 to $7.00 and my Imagia books had huge drops from $14.99 to $10.00. I felt a bit sad doing this, and my over zealous uber supportive aunts would be disappointed in me, but it’s done. I’m not sure the expanded distribution is worth it to an indie writer. What do you think? It’s funny to think about how little your hard work and dedication can return to you, but at least it’s out there…just in case. You never know.