You’ve invested your time and money into creating a perfect bound book. You’ve taken your content and layout plans through multiple revisions to make sure that your final product is the very best it can be. Now what? How do you get your new book into the hands of as many people as possible? That’s where pricing comes in. Before we discuss how to get your perfect bound book without breaking the bank, let’s take a look at some of the factors you should take into account when pricing your books.
Overview of Pricing Factors
– First, let’s talk about pricing factors that is a given in most industries though are completely overlooked in the publishing industry. – Business growth – No matter what field you’re in, an increase in business growth can have a direct impact on your revenue and profit. This can especially be true in the publishing industry where a successful book can have the potential to have a much larger impact than a business or marketing-related book. – Competition – If you’re just getting started and have yet to see your book in the hands of many people, it’s important to know that pricing is key to setting the initial sales velocity of your book. – Sales velocity – Once you’ve already got some sales under your belt, it’s important to look into what type of pricing you’re currently getting. – Customer retention – Once you’ve got the right price point, it’s important to make sure that you’re retaining the right customers.
The Industry Standard
The industry standard for pricing books is $15-$20 a book. While this is the industry standard, you can find books in different areas of the market at different prices. If you’re just getting started and don’t know where to start, it’s best to start somewhere in the middle of the market. If you’re a well-known author, a higher price point can definitely be warranted. If you’re just getting started, a lower price point can be very beneficial.
How Much Are You Worth?
This is a question that you might be asking yourself after pricing your book. If you’re just getting started, you don’t have any sales yet, and you’re unsure as to where to start with your pricing, start by calculating how much you’re worth. To do this, you’ll want to pick your price point and then add your profits. After you’ve done that, you can decide whether your profit margin is too high or low. If your profit margin is too low, you’re missing out on profits that you could be making. If your profit margin is too high, your book is likely to be returned and you can be losing sales.
Make Sure To Include These Things
– Design Time – This is the time it takes to design the book. This could be the time it takes to design the cover as well as interior pages as well as the time it takes to create the layout of the text. – Print Time – This is the time it takes for the book to get printed. This includes the time it takes for the paper to be made, the time it takes for the printing press to be used, and the time it takes for the printer to be used. – Distribution Time – This is the time it takes for the book to be delivered from the printer to the distributor and from there, to the customer. It can take as little as a few hours or as much as a few days. – Customer Time – This is the time it takes for your customer to open the book, read the pages, and begin to apply the information inside.
Conclusion
As you can see, pricing your books is a huge part of marketing your books. With the right pricing you can maximize your revenue and gain brand recognition. When pricing your books, it’s important to keep in mind the factors we discussed. Keep in mind your profit margin, competition, sales velocity, customer retention, and design time. With these things in mind, you’ll be able to get your perfect bound book without breaking the bank.
