Getting to the point where you are ready to publish your new urban fiction title is incredible. Congratulations you are a doer!! You really should be proud of yourself. You are probably faced with so many decisions from editing, to cover design but one of the most important decisions is the actual pricing. Below are a few tips on pricing your new novel.
Follow The Competition
Your a new author who thinks their story is great and I have no doubt that you’ve spent months if not years working on your manuscript. However, when it comes to pricing your novel you have to follow the competition. Established authors who have made it to the best sellers list for fiction or uran fiction are guiding lights when it comes to the example. What you learn from them is what your potential audience is willing to pay for your genre of work.
This may seem obvious but many new authors think their book deserves to be priced at $24.99 and it may be just that great. However, if your competitiors who have already built a following is only charging $9.99 who do you think they will choose first? Most likely the author they are familiar with. New authors need to keep their prices competitive. Readers are more likely to pay for a new authors work if the price is what they are used to.
Price to Your Advantage
In my other post I mention how royalty payments are paid out so you want to price your book at an amount that will yield you a reasonable royalty rate but you should remember that your first book may not yield high returns in the beginning unless you have tons of money to market your title. You want to price your book as close to your competitions as possible if not a little lower. This gives you a bit of an edge and your potential audience may take a chance on a new author.