How Much is Too Much and How Much is Not Enough?

If you've been in indie-publishing for any length of time and done any kind of research then you know that the market is as fluid and volatile as the river behind my house. One minute things are calm and smooth, flowing along in a steady, peaceful manner and the next a flood of information comes along that makes the current kick up and the urgency levels to rise.

What am I talking about? Pricing.

I was one of those that jumped on the KDP Select Program bandwagon, signing up for a limited three month term with my novella, STEALING DARKNESS. I set the price at a .99, believing that since it was a novella the limited price would make it attractive to buyers. I was also interested in the free days promotion that is part of the Select program, but what I have discovered is that I may not have made the best choice. You see, I undervalued my work. In order to put myself in a competitive place for selling my novella I put my price lower than would be a benefit to me... the person who labored and loved over the work to bring to market. I was also guilty of giving prospective readers a faulty sense of lack of value. What????
Really what I mean to say is that by valuing my work at a lower price I lowered the expectations of my readers. Isn't the work worth more?

About a month ago, around the same time that I put Three Truths up on Smashwords, I raised the price of the book from .99 to 1.99. I did this believing that the difference in price was justified by the size of the book I was offering. If I was offering a novella at .99 I could surely offer a full book at 1.99. It wasn't long after that the Smashwords founder published his own findings on the buyers reactions to pricing. Myself, along with a host of other authors out there began to realize that maybe we had taken the wrong route when it came to pricing our work.

So, as of today, as I prepare my next novella in the Darkness Paranormal Series for publishing, that my prices need to reflect my work. I raised Three Truths to $3.99 and I've raised Stealing Darkness to $2.99 in hopes that this will bring my work more in line with the current market and maybe give them a fighting chance at finding a readership that will appreciate them as much as I do.

It may not work. I may find that it discourages more than encourages more readers, but for now I'm willing to take the chance.


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