Pricing Your Book At Events

Last week I had the opportunity to participate in a multi-author signing at a local indie book store. I shared a table with an author who was there with her debut novel.

 

We hadn't been there long when someone came up to our table. She ended up purchasing one of my table-mates books...with cash.

 

The other author is in her early 20's and said to me after the fact that she hadn't thought anyone would buy her book using cash, so she hadn't prepared for that. She had QR codes for using Venmo, Zelle, and Square, but no way to process cash...or give change.

To make matters more complicated, she was charging $18.99 for her book.

 

Now, this might not sound like an issue. I mean, its not uncommon for books to cost around $20 these days.

 

It wasn't the $18 that was the problem. It was the 99¢.

 

I published my first novel 14 years ago and I've done quite a few in person events. In that time, I've learned a few things and one of them is that you want to make transactions as easy as possible. Especially, when you're dealing with cash transactions.

 

After the reader left our table, I imparted some advice to the new author sharing my table. Make your book an even amount at events, so you don't have to carry change around with you.

 

I'm not talking about paper money. I'm talking about actual coins.

 

If your book is $18.99, then you'll need to have pennies on hand to give change.

 

Granted, most readers will say don't worry about it (at lease this has been my experience), but again, just make it easier on yourself and make the book $19.00.

 

For me, I typically sell my novels for $15.00 at signings. This is less than you can buy them for on the major retailers.

 

Why is it cheaper?

 

Two reasons. 

 

1) I'm not sharing royalties with a retailer. When I sell my book on Amazon, Amazon keeps 30% of the retail price, plus the cost of printing. When I'm selling directly, I don't have to pay that 30%.

 

2) It gives readers an incentive to buy the book from me right then instead of waiting.

 

Do you have to do this?

 

No. You can charge what you want for your books. But as an author who's done this for over a decade, it's something I've found has made my life easier and gives a bonus to readers when the choose to support me when I go to events.