As a non-fiction author of a booklet you have a great advantage. You have something people want. People buy a non-fiction book or booklet for the information it contains, and if they want that information badly enough they’ll be happy to pay a higher price for it.
An author I know of wrote a 16 page booklet – back before the internet existed – on how to make money with your telephone and classified ads. He sold his booklet for $12.95. TWELVE NINETY FIVE!!! And remember, this was back in the very early 90’s so that would probably be closer to twenty dollars today.
The author of that booklet did so well he created several more and offered distributorships to interested individuals who were looking for a home based business opportunity.
Some authors and industry experts seem to think that in order to make more money you should sell your book or booklet for a lower price. After all, ebooks on Amazon can go for as little as a penny, and a vast majority are priced between ninety nine cents and three dollars. How could you possibly expect to sell yours for more than that? And if you’re selling printed copies the same rule applies, right? Stay within the ballpark and people will buy.
As a non-fiction author myself I find this statement ludicrous. No matter what you’re hawking, marketing is a tough job. If you sell your booklet at a penny you have to sell 100 of them to make a dollar. If you sell your booklet at a dollar, you only need to sell one to make a dollar. I don’t care how you slice it, you won’t make more money selling your booklet or ebooklet for a penny unless you’re Wal-Mart, maybe, where you have a huge customer base to begin with, and you’re offering it at a penny on Black Friday. But, for the little guy trying to hawk his book on his own, it’s not gonna fly.
All books and ebooks (and booklets) are not equal, however, and an industry publication or textbook may do well at a very high price.
Case in point – several years ago I received a book as a gift that I really wanted and needed. It was an industry publication, sold on Amazon, and the price was a hundred dollars. On Amazon – where people go to get a discount. And I know this author did very well for himself. He sold many of his books. But, it was specialized information, he was well known in the industry, and nobody could touch him. Thus, he was able to put his book in with all the others that sold for fifteen or twenty dollars and do very well.
How should you price your booklet? Price it as high as you can get away with! In order to do that you’re going to have to do one of two things, or both.
First, don’t lump your booklet in with ebooks or books that are selling for a low price.
Second, make your booklet stand out as a must have resource.
There’s no exact science for pricing so be sure to test your prices. Start with a lower price and raise it until business drops off. Doing so will tell you what your market is willing to pay.
To your riches!
PS: Have you signed up for my free ecourse yet? Get “12 Ways A Booklet Can Turn Your Writing Into Cash” Here!
My ebook, Publish Outside The Box, is available here!