Paid Promotions - A Case Study of Experience

[Lena]

Congratulations!

[Graeme]

Thanks Lena, much appreciated.

[Graeme]

Hi Lena, my total strategy is all about finding cost-effective ways to connect with readers interested in the sorts of books I'm writing, and build a committed audience I can continue to serve with stories I enjoy writing and they love to read.

[Quantum]

Graeme wrote: "Got both ASA and ATW in the sub 100 list for Superheroes Science Fiction today. ASA was in the category yesterday, so is sub 100 two days in a row.

Best rank was achieved by ASA at 7841 paid in th..."

Sweet!

Effective marketing work getting AMS and promos to work together. I thought ASA's AMS hook smoother than ATW's, but my opinion doesn't seem to matter at "35x ASA, 32x ATW". That probably shows that read-through is damn good. Let the data show the true reality.

BTW, your ASA blurb really kicks ass.

I noticed that even though TDD wasn't in the promo list nor in AMS, it was discounted to $0.99.

Is this the first time you've discounted all 3 books? Also, is this the first time running promos in the "superhero" cats?

[Graeme]

TDD is up for promo today.

[5] (Cost $40) BargainBooksy (Fantasy) for TDD at $0.99 on Wednesday the 16th May (Amazon, B&N, Apple, Kobo)

Also I switch off AMS adverts for the specific book being advertised. So right now, ASA and ATW adverts are running and TDD are off.

[Graeme]

New categories started about a week ago. This is the first promo in these categories.

[Graeme]

I'm taking the view of discounting all books at the same time to encourage sales and uptake of the series.

[Graeme]

May Book Promotion: Day 3

[5] (Cost $40) BargainBooksy (Fantasy) for TDD at $0.99 on Wednesday the 16th May (Amazon, B&N, Apple, Kobo)

AMAZON. 8x ASA, 5x ATW, 6x TDD. 19 total books.
WIDE: 1x ATW, 2x TDD. 3 total books
TOTAL: 22 books sold across all channels.

Cost Effectiveness: (After Royalties): Cost of $1.43 per book sold.

[Graeme]

Wrapping up.

Cost $310.
Books sold = 143 on Amazon, 10 on Apple, B&N or Kobo = 153 books total.

Royalties = $54.18. Net Cost = $254.05. Net cost to sell each book = $1.66

75 ASA sales indicates a possible 75 new readers. What the conversion rate to committed readers who will on buy the other books I don't know.

Net cost for exposure to a brand new reader is $3.38.

[Graeme]

The terrible performance on wide is a real concern. How many KNEP reads and KU royalties did I miss out on to sell 7 books?

[Nik]

Graeme wrote: "7 on Apple, B&N or Kobo ..."

Are you sure there is no lag in reporting?

[Graeme]

I picked up a couple more reported today on WIDE, and factored (edit) in above.

In 2017, 22% of my Amazon Revenue was KU KNEP reads.

All things being equal, I could have expected KU reads to be 0.22 x 50.05 (Amazon Royalties) = $11.01.

Versus 10x books wide = $5.90 in royalties. The other factor is that the KU reads indicate higher number of readers, and my #1 goal at this time is simply to build my audience as quickly as possible.

[Graeme]

The problem I have with the WIDE is

[1] I have no direct advertising options (that I'm aware of) to assist with building readership to a critical mass that will move into +ROI territory.

[2] My AMS adverts will generate more revenue if I'm in KU.

[3] Plus my whole book publishing efforts are reduced by a third if I don't have to support a third format (Paperback, Kindle, & EPUB).

[3 strikes - You're OUT!] Just delisted (not deleted - can be reactivated) all my books on D2D. Once that has occurred and the books are confirmed delisted, I will reinsert myself back into the Matrix, rejoin KU.

[Quantum]

Some niches aren't effective wide. For example, gamelit/LitRPG--depending on the novel's hardness/"crunchiness" (that is, how many character statistics sheets and other game mechanics are included)--are a harder sell when wide.

[Graeme]

The Goodreads Kindle giveaway is now up to 4 ratings/reviews.

REF: Here

My paperback giveaways had a hit rate of 1 in 7 or 1 in 8 ratings/reviews per book.

This kindle giveaway is running at 1 in 25, and the ratings are 3x 3 stars (one was a DNF) and 1x 4 star.

My Amazon "Also Bought" list for ASA has still not recovered from the blast of genre chaos delivered by this giveaway.

Probably the dumbest and most self-destructive marketing $ I've spent so far.

[Graeme]

Setting up just a single promo for June (May sucked budget, and I'm conserving funds for August when eRNT, BBar, and RR are available again after their required 90day/3month intervals).

[1] (Cost $40) BargainBooksy (Fantasy) for ASA at $0.99 on Tuesday the 19th of June. (Amazon/KU only).

(Should be in KU by then).

I'll run ATW, and TDD at $0.99 at the same time to see if I can get a lot of additional on sales for the same promo.

[Graeme]

Also looking to see if I can stack an Early Bird Books (EBB) ASA promo on top of all the others and get ASA into the top twenty books on the best seller lists for my current genres.

I will need approx 110/120 sales on the day to do that.

[Graeme]

Now back on KU.

Just reinsert me back into the Matrix. REF: Youtube: The Matrix: https://www.youtube.com/watch?v=Z7BuQ...

[Graeme]

Seriously thinking of doing a promo via BookBub (if I can get in) for ASA as a FREE book, and position ATW and TDD at $0.99 at the same time.

FREE promos are <$400 for Fantasy, or Action & Adventure and hence more affordable, and on sales of ATW and TDD could defray the cost of it.

[Nik]

Might be worth an experiment. Good luck!

[Graeme]

[1] (Cost $40) BargainBooksy (Fantasy) for ASA at $0.99 on Tuesday the 19th of June. (Amazon/KU only). completed.

Sold 4x ASA, 1x ATW, and 1x TDD.

Also three books (1 of each) a couple of days before, and on KU, had full reads of 1x ASA, 2x ATW and 1x TDD. all over a four day period.

Not my best BargainBooksy promo as they normally hit double digit sales.

I don't have (gasp) anything booked at the moment, trying to save money for a BookBub Free feature for ASA.

[Nik]

Graeme wrote: "Not my best BargainBooksy promo as they normally hit double digit sales...."

Might be the summer in Northern Hemisphere. Some say sales are lower that season

[Graeme]

Thanks Nik,

Picked up another three sales last night. My books are currently still discounted.

Amazon are taking their time resetting the prices back to normal.

[Marie Silk]

Are the books on a countdown?

[Graeme]

No. I just put them at $0.99 during the promo and then I've set them back to $2.99 yesterday morning. It's taking a while to update. I'll give Amazon another 24 hours before I ping them. It normally takes less than 6 hours to update prices.

[Graeme]

[1] (Cost $40) BargainBooksy (Fantasy) for ASA at $0.99 on Saturday the 21st of July. (Amazon/KU only). completed.

Sold 7x ASA, 3x ATW, and 3x TDD.

Still pretty poor for a BargainBooksy promo.

Still holding off on promos while I build budget for a BookBub Feature.

Not getting a lot KU Reads, got 3000+ last month, and less than 200 so far this month.

If it doesn't pick up, it will be worth going back wide. (I needed 6000 KNEP to match the sales on the other channels).

[Graeme]

After spending a little over $3K AUD on paid promotions in the last 20 months, without generating a single positive ROI advert. I'm pulling the plug on this activity until further notice.

I'm continuing to run AMS Kindle adverts at a low level while I work on understanding how that system really works.

I will spend some time on building my author platform, and getting that into place.

My writing, and publishing schedule remain unchanged and will continue to receive my consistent focus.

[Graeme]

KNEP is still in a disappointing range.

[Graeme]

Nik wrote: "Might be worth an experiment. Good luck!"

Now out of the picture.

[Nik]

Graeme wrote: "After spending a little over $3K AUD on paid promotions in the last 20 months, without generating a single positive ROI advert. I'm pulling the plug on this activity until further notice.

I'm cont..."

Hope these aren't sunk costs, as your recognition, brand and clients' base must've grown and we are talking here about a long game ....

[Graeme]

I don't know Nik.

I'm still writing and enjoying it.

[Graeme]

I haven't posted on this thread for about 6-7 weeks. I've been heavily involved in all the usual shenanigans impacting (afflicting?) an author's life.

A couple of things. I've positioned ASA at $0.99 permanently, and now that I'm about to publish my 4th book, I'm convinced that I can start adopting the "Marie Silk," approach of marketing the first book free, and using the subsequent books to reap sales that pay for the advertising.

Will a shelf of 4 books cut it? Will I break even? Will sales pay for the advertising? Let's find out.

[Nik]

Good luck, Graeme!

[Graeme]

Thanks Nik,

I'm going to use my successful sites in a 3-4 day stack,

BargainBooksy, BookBarbarian, eReaderNewsToday, RobinReads, etc, but in FREE mode aligned with a 5 day free window on Amazon. I get one of those per 3 months. So I'll just run on a three month cycle.

I'll try and get a BookBub Free promo in there as well.

[Graeme]

Back on point with this now.

From November 1st 2018 I will have 4 books in the same series for sale on Amazon KDP (Unlimited).

NEW STRATEGY: Two basic parts.

[1] AMS Adverts - continue to run and optimise looking to hit a +ve ROI by the end of 2019.

[2] Paid Promotions of A Subtle Agency (ASA) at FREE prices 1x per 3 months. Multiple promotional channels each quarter using sites that have already proven their worth.

[Graeme]

Upcoming promotions.

Stacked - All occurring on the same day.

[1] (Cost $100) BargainBooksy (Fantasy) for ASA at FREE on Friday the 2nd of November.
[2] (Cost $60) Book Barbarian (Free Book of the Day) for ASA at FREE on Friday the 2nd of November.
[3] (Cost $35) eReaderNewsToday (Fantasy) for ASA at FREE on Saturday the 3rd of November.

I will set the prices to FREE about two days before to ensure AMAZON is actually free on the required date. - DONE: Free from the 1st Nov to the 5th Nov 2018.

Note that this is 1 day after my 4th book, The Day Guard, goes live.

The idea is to solicit readers to all four books during the 3 month (new release) timeframe for The Day Guard.

GOAL: 2000+ downloads. 2% reader conversion to the series during November, where readers buy and read the following three books at $2.99 each creating a $2 royalty per book.

I.e. 40 readers buy a total of 120 books resulting in $240 royalty - paying a +ROI on a $195 promotion.

Let's see what happens.

P.S. Running 21x Tweets on AskDavid during the 5 days using blurbs drawn from high ranking reviews of ASA. Cost minimal.

[Graeme]

Picked up an eReaderNewsToday (Fantasy) promo today - so the stack is looking strong.

CONCERN #1: Amazon have been having trouble with setting FREE prices lately - hoping that is fixed by the 1st of November.

CONCERN #2: Amazon have dropped the "Book Series," information on all my books - even though they have the correct metadata. (I've contacted support via email).

Hoping (fingers crossed) that Amazon get their act together before the promos start.

[Nik]

Hope the amazing Amazon won't let you down

[Graeme]

Hi Nik,

I got an email from Amazon support today regarding the "Book Series," issue - should be fixed by Friday.

[Graeme]

All the issues at Amazon have been fixed and the promo started on time without a hitch.

The proof will be in the following metrics.

Total number of free downloads.
Total number of on sales of books #2, #3 and #4 over the rest of November.

[Marie Silk]

I'm glad the issue has been fixed! Good luck on your promo :).

[Graeme]

Thanks Marie,

Currently a tick under a 1000 downloads for ASA.

Hitting #1 rank for FREE in the Action & Adventure > Fantasy; Fantasy > New Adult & College; Fantasy > Superhero genres.

The Freebooksy advert has been running for 5 hours, and the BookBarbarian has been running for 3 hours. The day is still young.

EReaderNewsToday will run tomorrow.

[Graeme]

Day #3 of The Subtle Agency promo completed.

[1] All promotions have been run. The book remains free on kindle until the 05th Nov US pacific time.
[2] 2718 downloads and still rising
[3] Picked up the first on-sales today with someone picking up all the other books. Which is precisely the reader behavior this promo is all about. The conversion of a free download into a fan.
[4] Still holding some #1 genre ranks, which increases visibility as they are at the top of the 1st page for anyone who looks at those lists
[5] Starting to see flow on 5 star ratings for A Subtle Agency from brand new readers on Goodreads.
[6] Picking up new followers on Goodreads.

GOAL: The goal has always been to convert 2%(+) of the free downloads into fans who buy the following books within the rest of the month. 2% of 2718 is 54. As I have three books after ASA, that gives 54 x 3 = 162 books to be sold. Background sales are around 20 books per month. So I need to be above 180 sales in November for a 2% conversion rate. I already have three of those, and we will see how the rest of the month goes.

Reaching this goal will also deliver more than enough royalties to pay for the promotions and give the whole exercise a positive return on investment.

[Quantum]

Graeme wrote: "[3] Picked up the first on-sales today with someone picking up all the other books. Which is precisely the reader behavior this promo is all about. The conversion of a free download into a fan.
[4] Still holding some #1 genre ranks, which increases visibility as they are at the top of the 1st page for anyone who looks at those lists
[5] Starting to see flow on 5 star ratings for A Subtle Agency from brand new readers on Goodreads.
."

Nice!

[4] is very key for the immediate results of the current promo run. Do you think these are solid standings for the 3rd day of a promo?

Amazon Best Sellers Rank: #147 Free in Kindle Store (See Top 100 Free in Kindle Store)

#1 in Kindle Store > Kindle eBooks > Science Fiction & Fantasy > Fantasy > Superhero
#1 in Kindle Store > Kindle eBooks > Science Fiction & Fantasy > Fantasy > New Adult & College
#2 in Kindle Store > Kindle eBooks > Literature & Fiction > Action & Adventure > Mystery, Thriller & Suspense > Thriller

[3] is validation of the power of your series.

[Graeme]

Hi Alex, I'm happy with the results so far. I was anticipating between 2000 and 3000 downloads over the 5 day period. So, I'm on the upper end of that range.

To break it down.

Day 1: Twitter adverts only using AskDavid. 27 downloads.
Day 2: Ongoing Twitter adverts. FreeBooksy and BookBarbarian adverts. 1739 downloads.
Day 3: Ongoing Twitter adverts. eReaderNewsToday advert. 829 downloads.
Day 4: (now): Ongoing Twitter adverts, tail effects of the main promos. 131 downloads.
Day 5: The last of the twitter adverts and any tail effects.

I define tail effects as people who read the subscriber emails late, or viewed the book on Amazon at #1 rank in their desired free genre.

I'm surprised the rankings held up so well. They are drifting down now as the promo effects run out of steam.

As you read above, on sales have begun. The rest of November will be interesting to track sales.

[Graeme]

Also note that I'm not ranking at all under Paranormal > Urban Fantasy.

I actually reached #2 in Dark Fantasy, and I rated well under Action & Adventure > ... > Thriller.

So, my efforts to extract my books from UF and the PNR swamping of the vampire/UF categories appears to be working.

[Graeme]

Setting up the next quarterly free promo.

[1] (Cost $65) RobinReads (Fantasy) for ASA at FREE on Saturday 2nd February 2019.
[2] (Cost $60) Book Barbarian (Free Book of the Day) for ASA at FREE on Saturday 2nd February.
[3] (Cost $100) BargainBooksy (Fantasy) for ASA at FREE on Saturday 2nd February.

I plan to add eReaderNewsToday to create a stacked promo targeting the same day.

I'll attempt to add eReaderNewsToday early in January as they only book up to 30 days in advance.

[Graeme]

Results since the end of the November promo.

KNEP pages read/books sold

ASA: 5592 / 28
ATW: 2745 / 7
TDD: 1835 / 6
TDG: 1708 / 5

Counting KNEP and sold books, about 71 books sold.

What surprised me was how many A Subtle Agency sold after the promo ended

[Nik]

Looks like your numbers grow, Graeme, and hopefully those who read now ASA will grab the rest of the series afterwards..

[Marie Silk]

Wonderful, thanks for sharing!