Before Christmas and the great Amanda Hocking success story hit the blogosphere, the general wisdom among ebook self-publishers tended to be that $2.99 was the sweet spot  for selling and profiting from sales. Particularly after Amazon instituted its new 70% royalty offering (which didn’t apply for books priced at under $2.99), anything lower than that was seen as reserved for short stories or novella’s or at the most a brief promotional launch. However, the success of Amanda Hocking and a growing number of self-published authors selling their books at 99 cents changed the debate. They proved that you could sell so many books at that rate that it would more than make up for the loss of the 70% revenue. An additional upside to the 99 cent approach was that the sheer volume of sales at 99 cents would put Read more…