Inflation

After mulling it over for several weeks, I finally raised the eBook prices on First and Next Time. I could blame inflation, but in reality it’s an experiment of sorts. I’ve been selling them both for $0.99 USD since they came out. First I bumped up to $2.99 and Next Time to $1.99. Trust me, it’s not a matter of making more money, since I’ll probably sell fewer copies over the next couple of months. Why? Because people will take a chance on spending a buck and finding a diamond in the rough, which seems to be what most people have done, judging by the reviews. Won’t I make more in royalties off the increased price? Sure. In fact, a $2.99 price at Amazon jumps the royalty percentage from 35% to 70%. Which sounds great until you realize it’s still a small amount. If you’re at home doing the math, 35% of $0.99 is $0.34 per eBook sold. You have to sell a LOT of books at that price to make anything that actually impacts your bank account in a positive way. On the other side, 70% of $2.99 is $2.10. Not bad and it actually means you’re in the bracket where you make more money off a sale than Amazon does. Theoretically, though, you make less overall because the volume sold goes down with the higher price. I could be completely wrong and pleasantly surprised when I get results post-price change. I’ll let you know how it goes.