Thursday, March 11, 2010

the pricing experiment: day 4

It's not going well.

That is to say, I'm not getting the results I'd hoped for. My rankings are tanking big time (I apologize for the unfortunate rhyme). Sales have dropped by about half. Interestingly, Ordinary World still seems to be holding its own. Faking It, however, is not.

Indeed, this was a huge risk, raising what is, relatively speaking, quite a price hike even though it's only 50 cents. Percentage-wise, it's a high markup. Add that to the fact that most people slashed their e-book prices, some down to free, for Read an Ebook Week, while I actually raised 'em. Points for me being gutsy, yes?


Have decided to wait until the end of the week, then I will lower the price to $1.19 and see if I fare any better. The downside is that for some reason, when you lower your price, Amazon takes the book offline for 24 hours. (Why don't they do that when you raise the price?) So I'll have to lose a whole day of activity, and lord knows how that will affect my rankings.

Alas, this is what business is all about. If you want to make an omlet, you've got to break some eggs. There are important lessons to be learned here. I just hope I can reclaim my former rankings.


annerallen said...

I hope industry folks are paying attention to your experiment here. Lots of great data on what works and what doesn't in marketing ebooks. I'm betting your sales will go up with the price decrease, but we'll have to see...

Elisa said...
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Elisa said...

Thanks Anne. I'm gonna be on Stacey Cochran's "Book Chatter" LIVE tonight, and will probably discuss this -- hope you'll join us!