Beyond the newsletter, it’s a challenge for an indie writer to know how to market their books.
Make no mistake: There are a bunch of people out there making a fortune. A lot of them are making a fortune selling books that tells other people how to sell books.
I’m actually on a few newsletter lists from these people, and they always have pat answers as to what will give you your first 10,000 readers. And what to do to make your newsletter pop. And what promotional tools (usually theirs) you can use to accomplish that.
The problem with any marketing technique (I have a degree in Marketing, BTW) is that it’s very difficult to figure out why it worked. And whether it will work next time. And what it will work for.
I ran an experiment this past weekend. The last time I promoted a book sale (months ago now), I used several of those sites that send out daily newsletters to readers promoting books that are on sale. A couple of them had small charges, but the bulk of them were free.
And…I used those same 7 services over the last several days. How many 99 cent books did I sell?
Yep, just 5
Even though those were decent marketing vectors a few months ago (and well worth the time I spent to get a book in their listings), this time they were a dud.
(For comparison purposes, I did NOT run my own newsletter last weekend, because I wanted to see what kind of bump I would get without it.)
One of my readers mentioned that she had herself taken off all those lists. She just couldn’t keep up with all the daily recommendations. Me? I generally delete them unopened. So while they were useful months ago, they’re losing any value.
This is one of the horrid things about marketing. It’s not a hard science. It’s wibbly-wobbly at best. And therefore it’s hard to know where to put your time and money. After all, those 7 resources cost me a total of $30 and my return was a total of $1.35 (or so…one book sold in UK).
And if we’re trying to look at publishing as a business, it’s imperative to put our money where it counts.
And Amazon keeps changing the rules (link here). With every new program from Amazon, authors seem to lose an edge. The Kindle Unlimited program has flattened promotional sales quite a bit. (Read through article). In fact, some people did choose to read my promotional book via KU last weekend, rather than purchase it.
But the upshot of the above problem is that bigger and more expensive promotions are losing some of their return on investment: “The result was that promotion tools such as EReader News Today and Free Kindle Books & Tips became much less effective. Only BookBub remains reliably effective.” (From the above article).
And while BookBub is still effective, it is both now more expensive to get an ad and less profitable. So your ROI is much lower. (The last time I looked, a BookBub ad for my genre runs about $650 for a 99 cent book…that’s a huge investment if you’re not assured you’ll earn that much back.)
So the efficacy of that type of ad is dwindling. (I honestly don’t open BookBub any longer. I just delete.)
I think in a lot of cases, readers are simply overwhelmed by the fire hose of promotions coming into their mailbox every day. So the question is…what’s the next big seller?
Me? I’m going to run a .99 cent sale next month, where all my self-pubbed ebooks will be 99 cents. So now you’re warned.
Maybe it will work. Maybe it won’t.
Wish I had the answer!