Speaking of sales numbers, here’s an update on what I’ve moved for Too Close to Miss in January.
I expected sales to drop when I raised the price. My hypothesis (or rather my hope) was that raising the price 4X would result in less than a 4X drop in sales. In the case of B&N, I saw almost exactly a 4X drop; with Amazon, I saw more than that. So demand for ebooks by debut authors is predictably elastic! Useful data.
As to why sales dropped so much, I have a few theories:
(1) A natural drop-off from the initial surge. The day I posted the announcement, I saw an immense number of purchases. More than twenty friends of mine shared the post on Facebook. That sort of momentum couldn’t be sustained forever.
(2) I’ve also eased up on the self-promotion this month, not out of any consideration for your feelings but due to being busy. I also want to make sure I’m finding effective means of promotion, which has taken some research and planning.
(3) Pricing myself out of the market. Okay, that’s a slight exaggeration: $3.99 is not too much to pay for an ebook (and at such quality!). But the data I referenced on Tuesday suggests that the plurality of ebooks on Amazon are priced between $2 and $0. That’s where all the action is. B&N books average higher, so I’m not costing myself as many sales there.
The plan for now is to keep the price at $3.99. I didn’t hit the 1000 copies total this month (I rather ambitiously called that shot two weeks ago; oops), but at this rate I’ll easy make that in February. The plan for now is to use social media to promote word of mouth and to focus on the next Mara Cunningham novel, which is roaring around the curve as you read this.
* Technically 38, less one refund. And Kindle credits the refund at $0.99, meaning this was before I jacked the price. So somebody bought my book, read enough of it to decide it wasn’t for them, and said, “I want my ninety-nine cents back.” I have flown too close to the sun.