If any of you are writers, you might be interested in the blog I posted on my Romance Writers of America chapter blog on Sunday. I hope it helps someone. 🙂
We’re all trying to figure out what kind of advertising and short-term discounting works to increase sales and readership. I am at the beginning end of the self-publishing curve with one stand-alone book out, and one series with a free short story prequel and a book one. In October, I did several different things and tracked sales daily. Here are my results.
I put Unexpected Superhero (book one of a series) back in KDP Select for 90 days in July, ending October 21. I used my five free days in October with three days on a Wed/Thur/Fri and two days a week later on a Fri/Sat. It was also on sale for three days for 99c at the end of the month (Oct 31 – Nov 2).
I used advertising on several of those days. I purchased the InD’Tale Bargain Book Ad for $25 on October 8, the eBookSoda ad for $10 on October 10 (the first and last day of the first free period), then Ereader News Today for $20 on October 17 (the first day of the last free period).
On another author’s recommendation, on October 31 I used Ebook Boosters’ $25 service where they submit my book’s 99c sale information to 25 other free-newsletter sites (sites similar to BookBub and eBookSoda). I didn’t try to figure out for sure which sites picked up the book, but I know it went out on at least a few email newsletters that day. (I was at a convention all weekend so I didn’t have time to do Google searches or keep track of Amazon rankings.)
Additionally, I participated in an author book swap with 19 other authors on November 1. We all put one book on sale for 99c, then blogged, Tweeted, and posted to Facebook about all 20 books, and we all bought each other’s books. (So that accounted for 19 out of 25 sales on book swap day.)
I mentioned all of this to my newsletter list (122 people) once at the beginning of October on the day the book was first free, and on the last day of October when the book was 99c. I did one guest blog, and wrote three other blogs on my own two sites.
I also was at Comikaze, a comic book and pop culture convention, October 31 through November 2, and I told attendees that the book was 99c on Kindle that weekend.
Altogether, I spent $80 on advertising. Royalties from Amazon (the only place the book was for sale) were about $38 for 27 sales in October plus about $30 for 15 borrows from the KDP library, and about $20 for 32 sales in the first week of November. Financially, I broke even, about $8 ahead.
But keep in mind that I had 3710 free downloads as well. If those downloads translate to reviews and newsletter signups, that’s worth the cost of advertising. A bigger newsletter list means more sales when new books come out. I’ve had about the same number of newsletter signups already that I had after a BookBub ad last year yielded 17,561 free downloads of the same book. Last year’s free downloads added about 35 new reviews over two to three months. It’s too early to know how many reviews I’ll get due to the 3710 free downloads last month.
While traditional wisdom is that advertising with so few books out isn’t worth your time and money, check out the difference in sales and in reach between the month before the sale, the sale month, and only one week after the last sale.
September (with no sales or advertising) – 6 purchases, 6 borrows, 0 free, about $27 in revenue
October (with three sales and lots of email ads) – 27 purchases, 15 borrows, 3710 free, about $68 in revenue
November (1 week only, end of last sale) – 32 purchases, no borrows or free (not in KDP Select anymore), about $20 in revenue
While my numbers are small, the percentage of increase is excellent. Because last year’s BookBub ad was for a free book, the reviews were easily worth the $90 I paid for the ad, but there was a very small sales tail after the five free days ended. I believe I sold 24 books in the month following. I ended up with a negative net income that month despite the wild “success” of so many people choosing to download the book.
This time, I spent nearly the same amount of money, reached fewer people but over several different audiences instead of one, and had a positive net income for the month. Also, my book was being promoted over the course of three weeks rather than five days. I will likely derive value from that later since people need to hear about a product a certain number of times before they decide to buy it.
If you’re interested in the results from specific advertisers, these are my stats:
InD’Tale $25 ad to about 10,000 readers = 1238 free downloads that day
(NOTE: There were also 551 free downloads the day after the ad came out, and 245 on the third day, on which I also used an eBookSoda ad.)
eBookSoda $10 ad to 700+ readers = 245 free downloads that day
(NOTE: I used eBookSoda in April and May of this year, and had 0 sales and possibly a few sales, respectively with books priced at 99c. I emailed them and was told Little Miss Lovesick was advertised to 681 subscribers in April with 37 click-throughs to retailers, and Unexpected Superhero was advertised to 714 subscribers in May with 43 click-throughs to retailers.)
Ereader News Today $20 ad to “thousands” of readers = 1277 free downloads that day
(NOTE: There were another 391 free downloads the following day.)
EBookBooster $25 ad to 25 sites and potentially thousands of readers = 8 sales at 99c that day
(NOTE: There were 10 more 99c sales during the 3-day sale, and a lot of word-of-mouth promotion as well.)
I’ll let you draw your own conclusions. This is data based on having only one book in a series and advertising that book without the next book out yet. I’ll let you know what happens when I do this again when book two comes out.
Meanwhile, please leave a comment with your thoughts, or your advertising experiences. And please share this with your social media friends. Your input could be very helpful for others contemplating advertising and short-term sales.