One topic that came up frequently was whether authors are "cheapening" the reader perception of what a book is worth by selling their wares for deeply discounted prices, or even—gasp!—giving them away. If you're an indie author, you have the right to set prices for your work that make sense for you. While traditionally published authors bemoan the $3.99 e-book, those indie authors are making more per sale than those with traditional, mass-market paperbacks. If you can attract readers to your series with discounted books, or free books, it might be worth a shot.
I've never been big on bouncing my prices around, but I had the opportunity to take part in a "First in Series Free" program at Kobo Books, and then another one at iBooks.Was I satisfied? Very much so. What I've learned:
First, not all channels permit indie authors to drop a price to free. To have a free book at B&N, you'd have to go through one of the aggregators, such as Smashwords, and since I prefer to hold control of my work, I don't use Smashwords to get to any of the major stores. I do use Draft2Digital to get my books to iBooks, because Apple has more hoops than I care to jump through. I also want my books everywhere they can be (something stressed as very important at NINC by everyone other than the Amazon reps), so I don't play the Amazon Select game. However, so far, Amazon has price-matched my free books, at least in the US and UK.
Free, or deeply discounted pricing--loss leaders--are marketing tools used across the board, not just for books. A lot of readers are willing to take a chance on a new author if they're not investing a lot of money. For the author, it's a discovery tool. For it to work, there are some caveats.
1. You have to have more than one book. Getting your first book published, then setting the price to free, might get you a blip in the rankings, but what happens when the readers finish the free book. Where do they go next? Not to another one of your books, because you don't have one.
2. Even better than several books: have a series. Offer the first one at a discount, or free, and if readers like it, they're going to want to continue reading that series because you've earned their trust. In fact, many best-selling indie or hybrid authors have their first books in their series perma-free.
3. Take advantage of sites that promote free books to get the word out beyond your own circles. BookBub is good, but it's a tough nut to crack. Others include eReader News Today, eBookSoda, The Fussy Librarian, and Bookli, and there are many, many more. There are blogs, Facebook pages, Genre-specific newsletters that exist to get the word out on free or discounted books.
What can you expect? In general, your sales spike at the beginning when your book is free. Sales will drop, but they'll level off at a higher rate than before the promotion. Only a teeny-tiny fraction of the people who grab your free book will even open it. But of the ones who do, and who finish reading it, about half will buy your next book. And that "halo effect" is what free can get you.
There's also the consideration of what your goals are. Boxed sets for 99 cents were/are popular, but the goal of the authors who participate is not to make money; it's to make a NYT or USA Today best-seller list so they can proclaim themselves best-selling authors. But that's a whole 'nother topic.
What are your thoughts on free? On discounted books? Have you discovered authors and gone on to buy more of their books?
|Terry Odell is the author of numerous romantic suspense novels, mystery novels, as well as contemporary romance short stories. Most of her books are available in both print and digital formats. She's the author of the Blackthorne, Inc. series, steamy romantic suspense novels featuring a team of covert ops specialists, the Pine Hills Police series, set in a small Oregon town, and the Mapleton Mystery series, featuring a reluctant police chief in a small Colorado town. To see all her books, visit her website. You can also find her at her blog, Terry's Place, as well as follow her on Twitter, or visit her Facebook page.|