I Screwed Up My Pricing (Learn From My Mistakes)
Iām going to be real with you for a second because I messed up⦠and it cost me money. This month alone, I likely missed out on an extra $64ā$128+ in royalties. If I really sat down and calculated this over the past year⦠yeah, weāre not doing that math today š
But hereās what happened...and more importantly, what you can learn from it. When I launch a new book, I usually price my ebook low (around $2.99) to get early traction. The goal is to drive initial sales, build momentum, and help the algorithm start picking it up. That part? Solid strategy. The problem is⦠I never went back and updated the pricing on a bunch of my books. And thatās where I dropped the ball. My usual pricing strategy is to bump ebooks up to $4.99ā$5.99 after the launch phase. Not only does that increase royalties per sale, but it also helps position the paperback as the better value, which is where I like to drive most of my revenue. But I had multiple books just sitting there⦠still priced at $2.99⦠while continuing to get consistent ebook sales. So every single one of those sales? I was leaving $1ā$2 on the table. That adds up FAST. Today, I finally paused, reviewed my numbers, and caught it. I went back through my catalog and updated my pricing across the board. Lesson learned. š Donāt just focus on launching your booksāmanage them like assets. š Set a reminder to revisit your pricing after your promo period ends. š Small tweaks like this can quietly increase your income without creating anything new. Mistakes happen. But if youāre paying attention, they turn into opportunities. Go check your pricing⦠you might find some hidden money sitting there š