Question regarding Amazon pricing

[Steerpike]

So I've managed to hold steady at about $50-60 a month on my self-published children's book for Kindle. It was originally priced at $0.99, but a month or so ago I changed it to $2.99 to try to cast the book as one that is "worth" more than $0.99. My sales dropped, but with the increased royalty rate the end result, financially, has been about the same. I hit just over $50 in royalties last month.

The question is this: all things being equal on the financial side, in terms of the royalty I receive, do you all feel it is better to have the book listed at $0.99 (increased volume) or $2.99 (hopefully, positioning my work as worth more than $0.99)?

[TL Rese]

i was thinking about this similar situation before i self-pubbed my novelette, and i went with selling it at $0.99 for increased volume. personally, i want to spread my books as far and wide as possible, and thus, hopefully attract a broad audience and build a readership.

can i ask how long you've had your work on amazon and what marketing you've done?

[gavintonks]

I loaded my book for free as there was no way to get paid until last year and have had about 1500 downloads, it amazes me how people actually find the book

[MichaelSullivan]

I'm personally not a fan of $0.99 or $2.99. When I self-published my books I went for $4.95 and that price worked out well for me.

[Steerpike]

Thanks for the feedback, guys.

@Michael - this is a children's book. The top published series for the age group by a very well known author is going at about $4.99 per book. It seemed sensible to come in under that. Even though you were at $4.95, that was less than fantasy novels for adults written by authors already established, right? Jordan, GRRM, etc? So if $4.99 represents the ceiling, does that change your view in any way?

@TL Rese - I did some posting on forums, sent out some copies of the book, etc. That was OK. The big difference was when I set up a modest Google AdWords campaign.

[robertbevan]

I'm personally not a fan of $0.99 or $2.99.

i'll agree with this, at least the theory of it. i haven't actually been in the game long enough to make an experienced observation.

but these two prices would seem, to me, to show a lack of confidence. they're both bottom tiers. $0.99 is the bottom tier price for getting paid at all, and $2.99 (if i recall correctly) is the bottom tier price for collecting 70% royalties. i would imagine there would be a lot of sludge at the bottom of those two barrels.

[Benjamin Clayborne]

I'm planning on $4.99 or $5.99 for my NIP. Probably the latter to start.

[Steerpike]

I think $4.99 or $5.99 is a good place to be for a novel. For what is basically a "chapter book" for second graders, I think it is a bit high, though. I'll have to think on it a bit.

[TL Rese]

i also think it depends on what you're selling. mine is a short story, and a lot of shorts are on there for $0.99. full-length novels, i would say maybe around $3.99. "hunger games" was selling for about $5, so being only slightly lower than a major bestseller may attract readers - that's how i think of it, anyways.