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Understanding book pricing from Jordan Silver’s viewpoint. Those of you who do not publish on Amazon may not know this, or how this works, so let me walk you through it, so you may understand. If you look at my website, Instagram, twitter, etc. you will see that I have on average, 2000 readers. Half of those readers do not buy books, they use kindle unlimited, which is like a reading library. When readers borrow a book, I am paid less than half a penny for each page they read. So out of that 2000, I have 1000 or more borrowing instead of buying and I am paid less than half a penny for each page read in that book. And while we’re on the subject of pages, I have never seen advertised the actual page number of any book I’ve published. Ex. If I upload a 500-page book, it will show as 300-350 on the product page. A
200 page book may show up as 120 or thereabouts. I do not understand how this works so cannot speak on it.
Now for pricing: If I price my book at 99¢ I get 35¢ per sale. On release day, if I sell 500 copies, that’s $175. Let’s say all 2000 of those readers actually buy that book, then it’s $700. I don’t know about you, but I have to eat, pay bills, keep a roof over my head etc. Just your basic human necessities.
I have been using a system since 2013 that I learned from an established author who offered this advice free of charge on the Internet, in fact, I went a little lower than t he suggested because I too think about others and what they can spend. It’s for this reason that I recommended kindle unlimited to my readers when it first came about. As a reader, I liked the idea for you, as a storyteller… I’ll hold my peace.
Now, here is my pricing strategy.
5 000-10 000 words $2.99
20 000- 40 000 words $3.99
50 000- 100 000 words $4.99
For a $2.99 book amazon pays $2.00 per book sold, at 500 on release day, (If I’m lucky) that’s $1000 the rest are going to be reads on kindle unlimited at less than half a penny a page, not sure about the math but it works out to pennies period. If all 2000 buys that book, that’s $4000 dollars, which is great, but never happens.
The books priced at $3.99, gain $2.76 and $4.99 books gain $3.06 in some places, in others it’s less. Again, I don’t understand how that works so cannot speak on it. The bottom line is, if I could give my books away for pennies and still survive I’d do it in a heartbeat. But that’s not the real world.
You want me to write, I want to write, but I also need to eat, and live. If you read this and still don’t understand , then there’s nothing more I can say. Thanks for reading.