Monday, August 8, 2011
99 cent price point issues, pro and con
But I do wonder about the affects of the 99 cent price point on authors and the industry as a whole.
For an author, positives include: (my 2 cents)
1. The ability to lure new readers to your body of work/s in greater numbers using the low price as teaser;
2. The ability to launch a series with a sweet intro price.
For literacy in this country and the sales of books overall, the preponderance of 99-centers means more people may be induced to read.
THIS is a huge benefit in a country where education funding is being cut like Lady Gaga's last wild outfit--and illiteracy rises at an alarming rate to more than 20% of the population!
But what are the negatives of the 99 cent phenomena?
I worry that the 99 cent price point will so enthrall readers that this becomes a challenge to the entire industry, digital, print, self and traditional in that fewer and fewer readers want to pay more for a work.
While the economy--and Standard and Poor's latest jab at its own country--inspires more authors to price their works this way, truly the amount of time and effort that goes into writing something dynamic and viable (then editing it and formatting) demands a higher price point for many works. Few authors can afford to keep bargain basement prices for their works. Nor should they.
Volume sales, certainly, may more than make up for modest royalties of any initial 99 cent release, in terms of an author's earnings.
Diversity of types of works "on the shelves" also increases as self-pubbing becomes easier to format and file into various third party vendors.
What are your thoughts on this 99 cent surge?
Have you bought books at this price range and discovered new authors?
What compelled you to do that?
And have you subsequently purchased other works by that author at a higher price?