Authors – are you wasting your money on book marketing?
Are you wasting your money on book marketing?
Return on investment. This is the most common question we get asked. It can be a tricky one to answer but in this article we will give you specifics. What is the return on investment from book marketing?
Type of advertising – Press and Influencers (Bloggers)
There are a number of items to consider when you hire a service to secure reviews, press coverage, interviews and features for you. These forms of press can have an impact over a long period of time. An excellent book review will continue to sell books for you indefinitely.
For example lets say you secure a review like this – “Incredible book, the story line was so unique and I fell in love with the characters. Couldn’t put it down! Five Stars!”. Every time someone lands on your Amazon sales page and sees that review its going to impact their decision. They will read that review and it will give them the social proof to warrant investing in purchasing your book.
How do we calculate ROI?
Let’s say you spend £600.00 with us over the course of 2 months. In that time we are able to secure 25 reviews, 4 interviews and 5 Guest Posts (features) for you. The total number of features, reviews and media/blog coverage is 31. The cost of each item of coverage is therefore just £19.35! This of course varies from one campaign to the next but that is the average.
Let’s break this down even further
So each item of coverage has cost you £19.35 and your eBook is for sale at £3.99 (we won’t bring print books into this for simplicity). Now you will be on a 70% royalty split with Amazon.
You receive £2.80 per book you sell.
If that review, feature or blog post helps you sell 7 books it has paid for itself and you are at break even.
Now every book above that intial 7 that it helps you sell is profit. Sell 8 books and you are back in profit.
If that review, feature or interview helps you sell 16 books your ROI is 100%
If that review, feature or interview helps you sell 24 books your ROI is 200%
If that review, feature or interview helps you sell 32 books your ROI is 300%
I could go on and on! This value is attributed over months and years. Over the course of the years that follow the reviews, features, interviews and guest posts will help you sell hundreds, potentially thousands of books. As we have always said. The publishing game is a marathon not a sprint. Think long term with your strategy.