#005 "Keeping Up with the Joneses"
We have all heard the saying of keeping up with the "Joneses". You are probably wondering what this has to do with books. Well it has a lot to do with it and we will explain in further detail in this post. First let's explain or go over what it really means to keep up with the Joneses. According to Wikepedia.com it is referring to one's comparison to a neighbor as a benchmark or social caste or the accumulation of goods.
We also would like to give you an example of some ideas. Neighbor "Joe" just bought a brand new lawnmower. Neighbor "Jim" now wants that lawnmower and goes out and purchase said lawnmower.
In the real estate market the "Joneses" theory works in this manner; a house is priced at $120k that same house with the same square feet and amenities can not and should not be listed for anything but $120k. This is what is called Market Value.
Are you starting to see how this is going to relate yet?
If your "neighbor" ie; a book in your neighborhood (Amazon,Smashwords, etc..)has that particular house on your block ie; (genre) and you list your home ie; (book) at a higher price. No one will come buy your house. They will be looking at the other lower priced houses on the block. Look around at your neighbors, check out the block and see what houses are being listed at and try to beat their prices and get your fair share of the market. Wouldn't you rather have sales at a lower price and take less commission than no sales at all?
Before setting your price on your E-Book take a drive around the block and check out the real estate. Make sure you get your share of the market. Look at your genre and see the trends that are happening and price your book accordingly. You will be successful if you have the right price on your book.
Good luck and KEEP WRITING!
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