Step 3 (pt. 5): Creating Your Products: E-books
Avish: All right, next up let’s talk about e-books. And this is I guess the electronic version of the physical book we’re talking about, correct?
Fred: Yeah, it could be that or you may have some e-books that you just produce as e-books and don’t even create the physical books. But most of the time I think that everybody should, if they’re going to put together an e-book, they should also put it into Create Space and create their physical book as well. You may not want to print too many of them to begin with, but you should have both.
Avish: Okay, so I know we’ve already talked about writing the book and we talked about creating reports; so doing an e-book kind of combines both of those, right?
Fred: Yeah it does. I mean, you’re, you know, you’re coming up with something that, again, it may be a long e-book, it may be a short e-book, but it should be, basically, you can have an e-book that is basically your physical book taking the file that you used for your physical book, usually PDF file and just selling that as a stand alone product as an e-book. But you might also create e-books that are of much shorter length, anywhere from twenty to thirty to fifty pages. So, e-books are just basically an electronic written form of product. So not any specific length etc. etc. but that’s why we use the term e-book to describe the fact that it’s in an electronic form as opposed to physical.
Avish: Okay, but once you’ve got your e-book, just like you said with the report, we can just stick that into web marketing magic and it handles all the delivery and everything.
Fred: Yeah, that’s the nice thing about digital files, they’re easily, and especially PDF files that don’t take up much space, very easy once they’re produced to put them into web marketing magic and to have those be saleable, lickety split, as they say.
Avish: All right now, one of the advantages you talk about with an e-book is that you can add in digital bonuses and things.
Avish: What do you mean by that?
Fred: Well it means that, for example, if we’re putting together an e-book, since we’re already preparing, everything is being prepared in a digital format, we can throw in various other kinds of bonuses that are also digital as well so that we can sort of bulk up or you know make our e-book appear to be sort of more meaty than it currently is if you need to sort of make it sort of appear to have more substance.
Avish: Okay, I understand that. So speaking along those lines, we’ve talked about kind of three written types of products, the reports, the physical book and the e-book, are there like set guidelines for pricing? What are the pricing points these things should be at?
Fred: Again, here’s where we go back to our good old friend the value equation and that is that there isn’t any very specific pricing as it relates to e-books. I have seen e-books that go for anywhere for free to a couple dollars to a couple hundred dollars. And all of those can be virtually the same length. So it’s really a matter of how much content is being delivered and how valuable is that content to the eventual reader.
Avish: Okay, so is that just kind of a test it, see and figure it out or…?
Fred: Well, here’s what you want to do, in terms of what price you’re going to start at I guess is what you’re asking, and the price that you may want to sort of start at is take a look around for what else is, what similar e-books are selling for in your topic area. And one of the things you don’t want to do is you don’t want to price it so far out of the range either so much more expense of so much less expensive that it’ll appear to be something that it’s not.
So I would say that as a general guideline if you look around and you find that most e-books of this type are going for around twenty seven dollars, then probably your price, at least to start at, should be around twenty seven dollars as well. And again, unless you’re trying to create some kind of a mystique having to do with what it is you have create and then you go for pricing that’s substantially higher and then when people see it they say well, this e-book was twenty seven dollars but this e-book is two hundred and forty seven dollars, wow, this must be the good stuff. You know that kind of a reception issue. But again, a good place to start is just to see what the competition is doing and do a little “monkey see monkey do” marketing.
Avish: Right, but if you’re going to do that two hundred forty seven dollar option you better make sure your e-book delivers much more than two hundred and forty seven dollars in value.
Fred: Absolutely. And then, the goal is to deliver ten times more, as much value as you ask people to pay for it. Yep.
Avish: Oh well one final thing then on e-books, obviously a physical book is going to have a cover, if you’re making just an e-book, do you need to have like a nice, graphic cover?
Fred: You don’t have to, but sometimes it helps. And there are a lot of different places out there that’ll design e-book covers for you fairly cheap. The best one I know of right now is fiverr.com an Australian based site where people will do stuff for five bucks and some of that stuff they do for five bucks, often times, is an e-book cover and they have a piece of software, or basically they’re taking a piece of software and using it for that. But for five bucks, that’s what I would recommend.
Avish: Okay, sounds good.