If you’re a new author, you’ve thought of the question, “How much does an average book cost?” This is a good question to ask. If you spend so much time on a book, you want to make it worth it.
After you’ve written and edited, you need to price. You probably think that the hard part is over. You have a polished manuscript. But that’s not true. Pricing is a whole other story. Pricing your book means that you have to define the worth of your writing. That’s way harder than putting down words and ideas.
But don’t be scared; we’re here to explain the steps of the pricing. This will help you set the cost of your book. Let our experts begin!
How Much Does the Average Book Cost?
Before we discuss book pricing, we need to clear some concepts. So, let’s talk about the average price of a book. The average cost of books depends on:
- Genre
- Format
- Market trends
Paperback novels cost $13.95 to $17.95. But hardbacks of the same genre cost much more.
If you want to excel at pricing, you’ve got to do thorough market research. This will show you your competitors’ pricing strategies. This will help you set a competitive price to draw in your audience.
How Much Does a Book Cost on Average?
How much should a book cost? It comes down to what you’re being paid to write per day. Imagine that you spent more than seven months writing a book. You priced it at $9.99. This means that you get $0.05 a day to write.
How are you going to profit from that? Well, you won’t, which is why people say that pricing a book is an art not everyone can master. This is also why there’s no average price of books, as it depends on the strategy. However, your success is affected by your experience. It’s also based on your ability to resonate with your audience. This might sound confusing. But we’re here to help you understand.
So, we’ve made a pricing guide to make this easy.
The Ultimate Book Pricing Guide
If you’re deciding the average cost of a book, you have to ask the following questions:
- What’s the medium of the book?
- Is it paperback or hardback?
- How much does a paperback book cost?
- How much does a hardback book cost?
- Is it an eBook?
- Is it fiction or non-fiction?
- What is the industry standard for the average cost of a book?
Publishing houses want to keep a fiction novel’s price between $13.95 and $17.95. Non-fiction has sub-categories of pricing based on book type. This might be higher because they need more research. Informational books with graphics and charts are also priced higher than standard fiction book prices.
The more effort you put into your book, the more it should cost. Don’t shy away from giving your work the value it earns.
You might still be confused about what is the average cost of a book. So, keep reading for our specialists’ thoughts on how pricing works. You can start by:
- Set Realistic Expectations
- Find an Emotional Point of View
- Do Your Homework
- Old School Pricing Strategy
- Don’t Forget Royalties
Let’s explore these in more detail.
1. Setting Realistic Expectations
The most important part of pricing is being realistic. The more realistic your expectations are, the more positive the outcome. Unrealistic prices can give you a bad reputation as a writer. You’re probably worried about managing these expectations. You can tackle this with market research.
You can survey the relevant marketplace and its statistics. Statistics say that an average self-publishing writer sells 250 copies. So, if you sell your copy for $9.99, you’ll earn less than $2500.
You also have to add the cost of printing and publishing. After that, you’ll have very little left. A self-publisher who knows this will be prepared for little to no profit. You can also use this to hire experts. These people will help you correctly price your book for a better profit margin.
2. Find an Emotional Point of View
The one thing that can trump price is emotion. This might be strange. But it all depends on how much your reader wants your book. You could price your book at $100, and your readers will still buy it. This is possible if they’re emotionally hooked.
Think of it this way: you can set your price any way you like as long as you know there’s an audience that will buy it. The audience has to be committed enough to buy your book. You might think that it’s hard to be so sure about sales. It’s not if you market properly. You need to promote your book. Shows your readers that your book will touch their hearts.
3. Do Your Homework
If you know market trends, you can price your book better than your competitors. Look at how other authors with the same genre are pricing their books. Once you know that, you can change your pricing strategy. Do this to appeal to your target audience. There’s a reason why you have a target audience; it’s so you’re sure your book’s genre is appreciated.
So, the price you set for your book is the same or less than your competitor’s. This will give readers a good reason to switch to your book. They’ll be getting the same type of book at a lower price. People love a bargain.
Market research takes time. You have to be very detail-oriented. So, take your time with it before coming up with a random number for your work.
4. Old School Pricing Strategy
Pricing is a game you play with readers. You might find this manipulative. But it’s the truth. The better you are at mind games, the easier it is to find the right price. Old school pricing is a good strategy that uses these tricks.
This is the oldest method. It uses psychology to catch the reader’s attention. You show your price as odd numbers. $4.59 sounds more affordable than $4.60. You’ll trick your readers into thinking that your book costs less. This will make them want to buy it.
5. Don’t Forget Royalties
Let’s start by explaining the term ‘royalties.’ This word is thrown around the book publishing industry quite often. So, what is it? Royalty is the profit you make with every purchase of your book. There is no fixed amount of royalties. It depends on your price and selling platform.
If you publish your book on Amazon at $2.98 or lower, you’ll get 35% of the total sales. But if you set it at $9.99 or higher, you’ll get 70%. The difference in price changes your profit margin. This is why you need to know how your sales platform lists prices. You can settle on a number that favors you.
What Is the Average Price of A Book?
We can break this down into three categories:
- Paperback Fiction
- Non-fiction
- Ebooks
Each of these groups has different pricing standards, so let’s understand them individually.
• Paperback Fiction
The average cost of paperback books is between $13.95 to $17.95. If your fiction novel has 365 pages, you can set the price at $16.96. This price range doesn’t suit every book. However, it’s a close estimate. For a more accurate price range, you need to conduct market research.
A common mistake to avoid here is to be too confident and overestimate your book. Unnecessarily high prices could land your book at the back of shelves in libraries and bookstores, making it harder for readers to find it.
• Non-Fiction
As we’ve established, non-fiction books need more research, notes, references, and graphics. A book like that will obviously cost more, so you need to price it accordingly. The more unique the book is, the higher the price.
The price can also change based on the size and number of pages in the book, which are important factors that you need to consider while pricing. However, you need to focus on the message your price is sending to your readers. Will they think the price is worth the content?
• Ebooks
Ebooks are completely different from traditional paperbacks, especially when it comes to pricing. The major factors that influence eBook pricing are:
- Quality
- Royalty percentages
- Length of the book
You need to think about your royalties and the printing and shipping expenses. To get the best price that gives you a profit, choose your online retailer wisely.
Here are some questions to consider while pricing an eBook:
- What are your goals for this eBook?
- Where do you plan to sell this eBook?
- What do similar authors charge?
- Amazon’s pricing tips
- Is your audience big or small?
- Do you have a list?
- Do you offer unique info?
- Does your price give you flexibility?
Paperback vs. Hardcover: What’s the Price Difference?
Paperbacks are the top choice for readers who want low prices and convenience. The average paperback book price costs $13.95 to $17.95. This makes them easy on both wallets and shelves. But hardcovers are known for their durability. Their intense production raises their price.
How Are Hardcover Books Priced?
Printing hardcovers is more elaborate than printing paperbacks. Hardcovers have a different structure with multiple layers, like:
- Casing
- Binding
- Mesh
- Sheets
They use higher-quality paper for pages. They also need full-color, high-resolution printing.
This is why the cost of printing hardcovers is considerably higher. Customers see hardcovers as premium items. So, the high price is justified. This perceived value makes the investment in high-quality printing worth it.
How Are Paperback Books Priced?
Paperback printing is very popular with self-publishers. It’s less expensive than hardcovers. This economical option is suitable for all types of books, like:
- Personal family histories
- Cookbooks
- Instructional manuals
Multiple things can change the average cost of a paperback book, including:
- Print run size
- Paper quality
- Print quality and color for pages
- Cover design
- Binding style
- Shipping
Consumers usually see paperbacks as a more affordable option. This makes them ideal for selling books at a lower price.
You might be scared to price your book after learning all of this. You’re worried that you won’t give your work the value it deserves. This means you could miss out on a huge profit. You’re also scared that you’ll overprice your book. This could mean the audience doesn’t think it’s worth it.
You don’t have to stress about this. You can stop worrying about pricing technicalities. Just utilize industry experts at companies like Maven Ghostwriters. We’re here to help you through everything.
We offer so many services, like:
These also include book pricing. So, release your worries and let us take care of the hard part.
If you’re interested in these services, don’t hesitate to get in touch with us. Get ready for a wonderful book launch.
Frequently Asked Questions
How do you decide the price of a book?
Your book’s price depends on:
- Production costs
- Target audience
- Market demand
- Competitor pricing
You should also think about the book’s format for the best price. You need to set a price that meets your readers’ expectations.
What is a good price for selling a book?
This is vague. There’s no such thing as a ‘good price.’ The prices change with genre and format. Paperbacks cost around $13.95 to $17.95. Hardcovers are priced higher because of production costs. You need to pick a price that matches the book’s value.
What is the standard price for a book?
The standard price is:
- Paperbacks = Between $13.95 and $17.95
- Hardcovers are priced higher = Between $24.95 to $29.95
This depends on the book’s:
- Quality
- Length
- Production expenses
