Mr Poll plays the numbers game – Part Two: Pricing

In the previous post I discussed promotion in its various forms, before plumping for the time-honoured method of print advertising.

I fear I may also have traumatised a good many of you with the sight of Bond in a pair of red braces and little else. Sorry about that. By way of apology, how about this picture of Bond crossed with an Afghan hound?

Yes, that’s much better.

So, as promised, in this post I’ll give you a rundown of the outlay I have made, or plan to make, in getting Title Withheld out there in the big bad world. I’ll also discuss the thoughts behind pricing for both the eBook and the print editions.

Let’s get to the heart of the matter straight away, shall we? Here is a list of the costs I’m looking at:

– a 1/4 page teaser advert in Scream magazine #19 = £100
– a full page advert in Scream magazine #20 = £300
– a 1/2 page teaser advert in Cemetery Dance magazine #71 = £90 approx
– a full page advert in Cemetery Dance magazine #72 = £125 approx
– a 1/2 page advert in WFC 2013’s Souvenir Book = £85
– a full line-edit of 100,000 words = £500

That’s £1,200 in total, which, I have to admit, is a lot of money however you cut it. That said, you don’t have to go as mad as I have in order to get your book on the radar. A single, well-placed and eye-catching ad for your killer novel could be just as effective. You may find the sales you achieve from that one advert could fund another, and another, and so on.

And while £500 for a full line-edit may seem steep, remember that wielding the red pen will be none other than UK genre fiction super-agent John Jarrold. Having a well-respected professional help improve something I have written will be, for me, an invaluable experience. If my second draft survives the process with no fatal wounds then I’ll be so happy you’d struggle getting me down from the ceiling.

Okay, so there’s an honest appraisal of the direct costs for Title Withheld. Now for the really grisly bit: asking for someone’s hard-earned cash to read the book.

Again, let’s cut to the chase. For the eBook edition I’m hoping to stick on a price tag of $2.99 (£1.99), and for the print edition I’ll ask for $13.99 (£9.50).

$2.99 is the minimum price I can charge on Amazon and still qualify for a 70% royalty rate. Taking a historical average exchange rate of £1 = $1.60, along with my current circumstances, a $2.99 price tag would earn me around 78.5p per copy.

I will make the book available via CreateSpace, Amazon’s print-on-demand service. The print copy of the book will span approximately 320 pages of a standard US paperback (5.5″ x 8.5″). In order to earn royalties across all of CreateSpace’s distribution channels I would need to charge around $13.99 per copy. This would earn me around £1.35 for each copy purchased through Amazon.com, and around 33p per copy through CreateSpace’s expanded distribution channels.

(To play with CreateSpace’s royalty calculator click here and then the Royalties tab.)

It’s a shame I can’t bring the print copy price down much lower because, while $13.99 pitches the book fairly compared to the average US paperback, here in the UK £9.50 is somewhat above the average RRP of a similarly sized novel (£7.99), and no doubt there will be postage to pay on top of that.

So why am I going to the trouble of providing a print copy of Title Withheld? Well, it mostly comes down to the first post in this short series: promotion. You see, in order to have a book considered for review in assorted print magazines it is not uncommon for them to require a bound copy. I’ll also need promotional copies for giveaways on Goodreads and for the freebie tables at conventions. If I’m going to the trouble of creating a proper print version then I may as well make it available for purchase.

(There may also be a spot of Narcissism involved too.) 😉

Given the above outlay and projected royalties (jabs calculator) I would need to attract 1,529 individual purchases of the eBook to break even.

Okay, I’ll say this now: 1,529 purchases is a lot! Do I feel it is possible? Yes, but then breaking even isn’t the reason why I’m doing this. Seriously, if a single stranger buys my book and really digs the story then I’ll be chuffed to bits because, in keeping with the spirit of my very first blog posting, that one purchase becomes the start of something.

But while I’m getting my excuses in early, let’s not write off my chances. After all, I’ll be advertising the book to 35,000+ horror fans here in the UK and in the US. My previous posts on removing US Withholding Tax from royalties continue to attract hits from all around the world, all of whom get to see my teaser banner above.

I also have a small but growing number of blog and Twitter followers. Let me say a huge thank you to you all. It’s the likes and kind comments I receive that keep me believing. Your readership is truly a pleasant surprise because I haven’t said much about the book at all.

Not yet anyway.

That all changes from the next post, where I’ll at least tell you what the thing is called. You didn’t think I’d really call my book Title Withheld did you?

Thanks for reading. I hope to see you again in my next post.