I hate the term “loss leader” because to me, telling a story and getting it out to the reading public is never a loss. When marketing people use the term “loss leader” it reminds me of just how much books have been widgetized over the last decade or more, and how many people in the publishing ecosystem have lost their creative way. But since I’ve been working on a lot of reader magnets, permafree, and 99 cent books lately (It’s my goal to try and have one reader magnet and one permafree book for each series/world I write.), I thought I’d take a few moments and talk about why I price some of my books at 99 cents or set them up as a permafree.
I believe it’s important to meet readers where they are at, and let’s be honest, right now a lot of readers and the rest of us are struggling financially. Times are tough. If I can help out a reader by making a first book in the series priced at 99 cents or a novella at that price or even free either through reader magnet or permafree, then I’m going to do that. Yes, it’s important to make money from my writing, and it is my sincere hope that the reader who starts with the 99 cent or free book goes on to purchase more titles. But most importantly readers need to be able to get my books easily and with a low barrier to entry, so that’s where the free or 99 cent books come in.
It’s also, incidentally, the same theory I use for the short stories that are exclusive to my website. Not only are the short stories inexpensive, they come with a coupon for $1 off my Muse Happens membership group which in essence makes them free or almost so.
I know there are some who would say that I’m not maximizing my profits, and it’s true, earning roughly $0.35 from a sale isn’t a lot. It does, however, add up, and I’ve seen people go on to purchase other books. And even if a reader posts a review or tells someone about the book, then it’s a worthwhile investment.
Each author has their own different ways of pricing and marketing their books. There is no one right way. It is my hope that in writing 99 cent and free stories that I can get people into my world, that they’ll enjoy it, and perhaps, they’ll stay a while.
Want to see what books I have available for free? Check all of them out here.
