How to set the price for an eBook?

One of the most profitable money making opportunities online is writing and creating eBook for sale online. Once an eBook produced, the next step is deciding the price to sell online. This is actually a very important part in making money by selling eBooks. If you set the price too low, you need to sell a large amount of copies in order to make enough money to cover the cost. But if you set the price too high, people might not be willing to spend so much money for it.

Selling eBook online is actually selling information. That means people are actually paying for the information in the form of digital. The price of the eBook or information is actually depends on the needs or requirement by the person who purchase it. If the information can save the life of the person who purchase it, then it is worth a lot of money. If the information is just to teach how to speck proper English, then it might just worth few dollars only. In other words, you can set the price of the eBook as high as you want as long as there are customers who are desperately need the information within. This is the reason why eBooks with topics like skin care, health, diet, Forex trading, stock exchange, financial, legal and money making online can be sold at a higher price. Do a search online and you will be surprise to see that some eBooks actually set at a price of couple hundred dollars.

You will also need to consider the buying power of your customers. It will be better to determine your targeting customers by regional. If you are planning to sell your eBook by targeting US customers, setting a price between $20~$50 is acceptable. But if you are targeting Asia customers, USD$20 can be very expensive in certain countries. The currency exchange makes it very expensive. It is very important to study the group of customers which you like to target. If your targeted customers have the buying power and the eBook is set at a lower price, customers might feel that the information sold might not be that good. It is actually a psychology effect which people think that expensive products usually come with good quality. People tend to go for expensive products if they are looking for high quality products.

Finally before deciding the price of your eBook, check out the market price online for other similar eBooks. In my opinion, it will be best to set a higher price for any eBook you try to sell. This way you can still reduce the price if the eBook doesn’t sell good. You can also give discounts as a marketing strategy. But if you set a lower price for the eBook, you may not be able to increase the price if it sells good. I suppose this is why eBooks tend to sell higher price online. Check out the blog post title “Y! Big Story: What an e-book might really cost, for all of us” from Yahoo News. There is still much to debate for the price of an eBook.

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