This has been the big question for a very long time. I've watched authors debate, argue, and discuss the free giveaways vs permafree, the pros and cons, the possible results...
Here's what I have learnt--there is no absolute answer. Many authors say they never give away their books for free. Others claim that free is what made them. My take is this: if you have series, it might be helpful to make the first book permafree and promote it like crazy.
My first book has been free for some months now. But I don't promote it, so the free doesn't do much for me.
BUT. A short search on Amazon will bring up lots of free titles of the first books in the series, and many authors make a good use of it.
Another BUT. Don't go free if that's your only book. It won't do much for you. Most of the time free is helpful when you have other books too. Better when they are a part of series:
You will have to decide for yourself to free or not to free, I will only tell you how to do that.
When you publish with Amazon, you can choose to go exclusive with them, or publish on other platforms too (Smashwords, Kobo, Barnes and Nobles, Apple store, etc.). If you publish exclusively with Amazon, you will have 5 days every 3 months to make your book free. You can use all 5 days in a row, or spread them over the 3 months. Amazon does not let you go permafree. Your book has to be at least $0.99.
But if you choose to publish with other vendors, too, then you can make your book forever free. Here's how to do that. Publish with Smashwords. Smashwords let's you choose free without any limitations. After you make your book free at Smashowrds, Amazon's system will detect a lower price and will price-match your book. Thus, in a short period of time, your book will become $0.00 everywhere.
And then you will have to promote and promote it. If you won't to make a good use of the free promotion, don't just sit back and wait for a magic to happen. Free doesn't do much unless you market and promote your book.
Good luck!
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