So a few weeks ago I talked about Reedsy. I also mentioned Publisher Rocket. Given that I’m still in a holding pattern on the rest of the Oneiros Log, this turns out to be a good time to offer you an update.
Naturally, I hope for this to become a profitable business. However, the unfortunate reality is after five years, I’m still losing money. This in no way reduces my love for writing, nor does it affect my resolve to keep at it. What this truth does do is challenge me to look at what I’m doing and try to get better.
When I talked to marketers, I had two conversations. The first validated a truth I accepted when I started. I have ten titles available. If I use the wide umbrella of “paranormal,” I could argue that six of them are in the same genre. One of those six is YA. Three more of those six are parts of the first book. When one doesn’t write to market, it’s very difficult to build a platform. I went into this dream with my eyes open to that truth.
If you were a hopeful author who didn’t care what you wrote, I’d recommend you search the categories (more on that below) and write to one of the smaller markets and build your following. However, I have stories that have been stuck in train wreck between my eyes for decades, and they want out. Some are more demanding than others. I don’t think I could stick to one thing if I wanted to. This means I have to be willing to accept that I don’t have a lot going for me in terms of platform and market. I am trying to get the Oneiros Log done, and that will give me a complete trilogy (quadrology if you count Repressed, but, again, that is a YA outrigger story) to market to one audience.
The other marketer and I spoke via chat, and we have a meeting scheduled for later today (Saturday). I was clear about my goals and my struggles.
My ultimate goal is to earn $7,000 per month in profit from my writing. That’s the target that will allow me to become a full-time author. I’d probably continue working for two years just to get everything stabilized. Then I would focus on being the author I’ve always wanted to be.
This meeting is hopefully the first step toward making the books I have out contribute to the goal rather than continue to budget for my author career the way some people budget for vacations.
The next thing I did was possible because of some overtime I worked. I finally purchased Publisher Rocket. My desire was to skip straight to the AMS Marketing Keywords, but I held off. I learned a few things by doing that.
A while back, I talked about using the seven KDP keywords to help get you placed into more specific categories. They do, but those keywords are even more powerful. I sort of think of them like free marketing keywords. So I spent the last week going through all of my titles and refining those keywords. Now, since those titles are old, and I don’t have much of a platform, I can’t really expect there to be any night and day changes.
The next thing I did was use Rocket to help me find categories that gave me a better shot to be visible. When one first publishes on KDP, they see some 600 categories they have to try and fit themselves in. Amazon has way more categories than that, and Rocket has a way to find them and rank them based on how many books per day you’d have to sell to be the best seller for that category. From my understanding, being a best seller or a number one best seller for a category does wonderful things for a book and an author’s bank account. I still have to move those titles into those categories, but I just finished identifying them, and getting put in those categories is only an email or phone call away.
As for marketing: I’m actually having trouble finding the first article I researched, but what it taught me (and other sites reenforced) is that each of my book should have at least 100,000 impressions per month.
I was nowhere near that. The short math:
Impressions must happen for anyone to click. Clicks must happen for anyone to buy. You want clicks to lead directly to buys.
Last weak, I took stock of what books were generating the most impressions. Caught was getting somewhere around 40,000 impressions per month. So, without having Publisher Rocket, I just went at it. I created about two new campaigns a night until I reached the point I am at today. As of May 21, Caught had 78,804 impressions during the last 30 days.
This tells me I should be hitting my goal soon (if I haven’t already). The next step in my plan is to get the rest of my books going.
Once I have all of my titles pulling in 100,000 impressions a month, I can use that data to look at my click through rate.
So I thought I’d give you a snapshot on just how far off I am. My hope is, as I get better, you’ll see that I’m doing is working. Why isn’t it working now? Because I haven’t been doing too much of anything. Time is a valuable resource. I spend the bulk of my time happy with my wonderful family. I spend time with God studying the New and Old Testament. So I was using my time to write (which I love), but my books aren’t selling (which makes me sad). The goal is to turn things around by focusing on my AMS marketing. Will it work? Stay tuned and find out. (You can help by purchasing any or all of my books! Just saying.)
My Current stats:
BOOK IMPRESSIONS CLICKS ORDERS (BOOKS BOUGHT)
Caught 78,804 38 (BAD) 1 (NO FUN)
Bob 20,453 (BAD) 12 (BAD) 0 (SAD)
Power of Words 40,069 (BAD) 11 (BAD) 0 (SAD)
Repressed 34, 740 (BAD) 9 (BAD) 1 (NO FUN)
Sojourn 29,210 (BAD) 22 (BAD) 0 (SAD)
Stealing Freedom 4, 718 (TERRIBLE) 5 (BAD) 0 (SAD)
Testimony 33, 028 (BAD) 11 (BAD) 0 (SAD)
I left out info for the individual parts for Bob because I only have about one campaign for each of them, so it’s probably not good.
It looks like we got Caught up to speed. I’ll know for sure June 1. I’ll probably do a few more campaigns just to be sur. My first goal will be to get them all to 100,000 impressions a month. Then I can worry about that devastatingly bad click-through-rate. According to my research, I should be getting clicks about 35% of the time or more. I think my highest click-through-rate is about 7%.
One thing I can do now though (and intend to do during my meeting with the Reedsy marketer) is work on converting those clicks into buys. How often do I want that to happen? Let’s look at the math.
After Amazon takes it’s cut from one of my sales, I make a maximum profit of $2.79 (on average. Most of my books are between $2.99 and $3.99, but let’s just work with this number for now). If I pay 25 cents a click, that means I could have about 10 clicks before I lose money. My goal is to convert one out of every eight clicks into sales. The way that happens is making sure I get my book blurb on point and reviews. I can’t actually do much about reviews. I hope people read and review my work, but I don’t have a way to make that happen. I can look at my blurbs and make them as strong as possible. My hope is this marketer will help me with that.
Why one for every eight click? Because if I can keep it that low, I could make 9 cents a sale. Not the best sales rate ever, but I have to start somewhere, and my current one per fifty four clicks is costing me about $20 a month. The perspective is that flipping it from a loss to a profit is the right progression.
We have to think positively. Rather than stay fixated on the lack of sales and reviews, the more-productive (and less painful) mindset is to look at what can be done to get better.
So here is the starting point and plan of action, the two things anyone needs to execute a plan.
Wish me luck!
Thanks for reading,