This is really going to focus more on the sale since I am still working on becoming more consistent. The short story is looking better and better, but still not where I want it. Didn’t write much else.
The sale was…odd. The whole point of lowering the price for me was to increase my ranking and get to a top 100 for one of my subcategories. While I did sell more books, it was like three or four more total. I made about twenty dollars less and had a moderately higher average for my ranking.
But, it was also largely unadvertised. Mostly because I don’t have the reviews for the bigger sites (which looks like it is steadily changing, first five star). Maybe if it had been more advertised, the results would have been different. From a financial standpoint, I find that to be a long shot. I need to sell roughly seven books at .99 to make the same amount for every one at $2.99, and a lot of websites (bookbub for example) allow $2.99.
From the standpoint of market penetration, I really don’t have the info to make an assessment. If I make less money but sell more books, getting more readers, visitors to the blog, subscriptions to the mailing list, etc, than it’s certainly worth it. But that didn’t happen, instead I made roughly the same sales but with a smaller margin.
The big thing though, to me it seems, was in how people perceived the book. I raised the book a dollar above where I had it to $3.99 and within six hours had two sales (higher accelerations than the .99). I’m all for offering a deal, but if more people want to read a $3.99 book than a .99 book, well, best of all worlds. This seems to indicate to me the market is less price sensitive than what I’ve read, at least not in the way I thought.
The assessment I’m assuming, with the data given, is that .99 is a red flag for a reader and a bigger risk than a higher price. Because even though .99 is nothing, it has a higher indicator of an unsatisfactory experience than a higher price book. I know that sounds weird, but price is a funny thing. All industries are different. You wouldn’t buy a two thousand dollar car, you would assume there was something wrong with it because you know there’s no way you can make a quality piece of machinery in this day and age and then make a profit selling it that cheaply.
I will need to experiment quite a bit more with this. I did an extreme with next to no advertising, next time I’d like to take a whack at bookbub since they are THE ad place for indie ebook authors these days.
I hope this helps and if anyone else has experiences they’d like to share, I’d like to hear their comments.