Have you ever attended a music concert and seen T-shirts on sale for over $25? How can musicians get away with these ridiculously inflated prices? Emotion can trump logic when it comes to pricing. In other words, the emotional experience of a great performance makes people feel less concerned about price. Fans enjoyed the concert so much that they'll gladly pay an inflated charge to take home a souvenir to remember their good feelings. The greater the emotion, the less price is an issue.
As an author, you can enjoy this same dynamic. When readers hear you speak in public or meet you at a booksigning, they get to feel an emotional connection to you as an author. And, if they're fans of your material, that connection can run incredibly deep. For instance, look at the intense followings of bestsellers, such as J.K. Rowling, Malcolm Gladwell, or Stephenie Meyer.
Furthermore, getting a signed copy of your book can feel like a personal treasure to a fan. Therefore, price isn't top priority when most people visit your book table. Due to this fact, charge the full retail amount for individual copies of your book - especially if you sign them in-person.
New Workshop Opportunity:
Advanced Media Training for Authors
Saturday, November 5, 2011 - Atlanta, GA
Don't wait. Space is limited and registration closes Oct. 15th.
Click here for details.
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