Determining the Right Retail Price for Your Book

There’s a fine line to balance when you’re setting the retail price for your book! Too high, and you might discourage potential new readers. Too low, and readers might question the value of your content - or worse, you wind up losing money on every sale. In this episode Matt & Lauren discuss how to determine the optimal list price for your book and what factors to consider.Dive Deeper💡 Lulu’s Pricing Calculator💡 How Do I Set the Retail Price for My Print Book? from the Lulu Knowledge Base💡 Breaking Down Print Costs for Authors from the Lulu Blog💡 School Library Journal’s 2023 Average Book Prices Chart💡 Self-Publishing School on How to Price Your Book: Balancing Sales and ProfitSound Bites From This Episode🎙️ [18:32] “If you don't care about the why and you don't care about all the mechanics behind everything and you just want the quick TL;DR answer to how do I figure out how to price my book correctly? The answer is do your market research.”🎙️ [24:20] “And that's kind of the point of this episode too, is to help people better understand the economics of books so that they're not out there pricing things based on just seeing something on Amazon and going well, I have to do it this way. Like, I have to try and compete with that price. You may not be able to.”🎙️ [32:12] “There's definitely some psychology behind that, some consumer and behavioral psychology around how you price things. It's not a bad idea to pick up a book or two about this and learn more about it.”💀 Can’t wait for our next episode? Check out our Resources page for links to our blog, our YouTube channel, and more. 💀 Find us on Facebook, Instagram, and LinkedIn at luludotcom!💀 Email us at [email protected]💀 Sign up for our mailing list.

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