Hi, I just wanted to let everyone know how my 99 cent experiment is working so far. This is only the 4th day, but so far the results are good.
Before I show my sales for the past few days, I'll share a little bit of background. My average sales for August and September (with the exception of my Kindle Nation Daily spot and my price drop) were 3 books a day. In order to match this and not lose money from where I was at in August and September, I need to sell at least 17.4 books a day at the new $.99 price.
Monday - 49 books sold.
Tuesday - 67 books sold.
Wednesday - 40 books sold.
Thursday so far - 31 books sold at 4:42 pm.
My best month was July, for royalties not sales, and I sold an average of 5.6 books a day. To match my best month, I need to sell 32 books per day. So far, this has been easy to surpass. It looks like my 99 cent price is going to earn me more royalties than my $2.99 price, even though I only get 35%.
And I get more readers. And more reviews.
Something else is happening also. I am getting mentioned on blogs and facebook pages that list very cheap books.
I'll keep you updated as this progresses. I must say that Joe Konrath might be missing the boat a little telling people that the sweet pricing spot is $2.99. At least for me, the 99 cent price is looking sweeter.
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