Determining the "right" price for an eBook is hard to nail down. If you're a traditional publisher, then gouging the consumer with prices over $10 seems to be the way to go. If you're an indie writer, you're typically on the lower end of the scale, with bargain bin prices of $0.99 or maybe $2.99 to get the 70% royalty rate or, if you're courageous (or actually want to make a living at writing), $4.99 and up.
The problem with the $0.99 price is this:
- There's too many eBooks at that price, so finding the needle amidst the haystack is next to impossible.
- There's a growing consensus that eBooks at that price are crap. (I've read this here and there, and the noise seems to be growing)
You might as well throw free into that pile, too. By its very nature, a writer makes nothing off free, and as far as getting reviews or some other form of reciprocation, it doesn't work.
I've given up on the $0.99 price point except for promotional purposes. John Locke has found a lot of success at that price. In his words, though, he writes "breezy" novels. Say what you like, but I definitely don't write "breezy" novels.
I've also tried $1.99 – $2.99. I've had some success at this level, and I'll continue to offer one or both of my novels in this range. In fact, I just bumped The Hall of the Wood to $2.99. It's a well-written, fun, entertaining read, and I think it's worth that much. Maybe not more, but not any less.
I don't have a series loss-leader (yet), but I also think if The Hall of the Wood is worth $2.99, then The Five Elements, which is an infinitely better novel in just about every way, is worth at least $3.99. That's therefore what I've priced it at.
In general, I'm in the camp that believes a well-written novel is worth more than a latte (and way more than gas station coffee). I also think I work my tail off delivering the best experience possible for my readers. Most have thus far agreed with me on that. Last, if this is to become a viable second (or primary) source of income, 99 cents doesn't cut it.
All this being said, it doesn't really matter what I think my novels are worth. What really matters is what readers are willing to pay. That, my friends, is something I'm still trying to work out.