Firstly, congratulations! If you’ve just finished writing your first ebook, then you know how much time and effort goes into it, as well as design costs, and if it’s a recipe ebook, the cost of ingredients!
But if you’ve ever sat there and wondered how much to charge for your ebook- you’re not alone. The one thing that people often struggle with is not the concept or idea, or even the DOING- it’s knowing what to charge when the work is done.
Ideally, it would be as simple as putting a price on paper and calling a day.
Realistically, it’s a different matter. There’s a number of things to take into consideration and this handy guide should help you determine that price.
Who is your ideal customer?
Do you know who she or he is? And are you solving their problems? Because if you are, you’re halfway there. If you are helping them solve an issue, there’s no price that they won’t pay.
What will they spend?
If your ideal customer is on the luxe end of the scale, chances are they’ve got money to burn. However if your customer is more frugal, then you’ll need to take that into consideration and make the price point comfortable for them.
What platform are you selling it on?
If you’re selling it on iTunes, or Amazon, bear in mind they take a percentage of every sale- depending on the product it can be up to 50%. The upside of this however, is that you’re exposed to a infinite amount of traffic.
If you’ve got your own website or ecommerce store, then all of the profits are yours (after you’ve covered your costs of course), however you are exposed to a finite audience, and it takes work to bring them in as customers.
What are your peers charging?
It’s always a good idea to be aware – NOT to compare – to others who’re in your market’s arena. You don’t want to be pricing yourself too low, or to high, and cutting yourself out of the market completely.
What other products do you have and what do you charge for them?
Make sure that your products are all in alignment- they may be totally different products catering to totally different customers, but you’ll be doing yourself a disservice if your prices are all over the shop.
Are photos included?
Having full colour photos with each recipe is a big plus in my eyes, however many authors don’t include them. I truly believe that great quality photos add weight to your brand and therefore you can charge accordingly.
What FEELS good?
If a price point feels good, sit with it, and then stick with it. If you find a certain price keeps appearing in your mind, or it rolls off your tongue really easily, then that’s the one for you. It’s got to feel good.
So, how about me?
As a general rule for my recipe ebooks
1 recipe = $1-$2 (or less, depending on the amount of work involved + ingredients cost)
This means that I have a benchmark for myself and what to price. It also means that my prices are in alignment, and I know how many I have to sell to break even and to make a profit.
Real life examples:
Delicious Doggy Dishes – $24.95
35+ Recipes with lots of colour photos
Remedies + Holistic Home Care
Stories + Anecdotes
Main Essentials -$24.95
Full colour photos with each recipe
Shopping lists for fridge and pantry
Meditations + Pilates Sequence
Filled with colour images
As you can see, all are vastly different ebooks, with a different audience and it’s own niche.
Ultimately, there’s no right or wrong when it comes to charging your own products. You just have to believe in the product, the results it’ll give your customer, and stand behind your worth 100%.
If you’ve got an ebook, why not share below a link, and how you decided to price yours?
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