Tuesday, March 22, 2011

Pricing experiment update: after 21 days

The third week of sales and royalties charts for the two books that I’m experimenting with price:
Lowered price from $2.99 to $0.99.



February average daily sales = 6.6
March average daily sales so far = 16.8
February average daily royalties = $13.21
March average daily royalties so far = $5.88
March’s average daily sales/royalties have increased since last week, from 15.1/$5.28 to 16.8/$5.88.

Raised price from $0.99 to $2.99.


February average daily sales = 6.7
March average daily sales so far = 9.1
February average daily royalties = $2.34
March average daily royalties so far = $18.28
March’s average daily sales/royalties have increased since last week, from 8.2/$16.51 to 9.1/$18.28.

Thanks to the increase in sales of my novel, there is a chance that I could sell 1000 ebooks this month. It's going to be close!

Other reports on the pricing experiment:

6 comments:

  1. Congratulations, Derek! Good luck with it, and thanks for sharing.

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  2. Nice going! I'd love to know your secret. I spent the first six weeks of the year publishing my books. I averaged four sales per day throughout February. Then, on the first of March, it changed to one per day and has been stuck there all month. Weird.

    Anyway, good luck with those numbers. 1,000 is definitely a big one.

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  3. I love these updates you post - it really goes to show that the "right" price is different for every book, and depends a lot on the type of book. Very valuable data - thanks for sharing!

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  4. Congrats on the sales increase. I've noticed that some times it takes books awhile to have enough increased sales to overcome the decreased royalty rate when it goes from $2.99 to $0.99. You don't seem to have that problem. I wonder why the difference.

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  5. Jamie, no secret. You can read everything I did in my posts for the last six months. You should put a link to your book page here in the comments.
    Shelia, if sales continue to increase at the current rate, I should sell enough books to make up for the royalty loss in about 2 more months.

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  6. Derek, did you know your blog got a mention in a german newspaper article?
    http://www.spiegel.de/kultur/literatur/0,1518,748220-2,00.html
    Interesting stuff, just starting out myself with this offering:
    http://www.amazon.co.uk/Rise-Fall-Ger-Mayes-ebook/dp/B004PLNOUS

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