Today’s episode is an answer to a listener question from Shauna:
What do I do with statistics from my website, social media and book sales?
This is a great question! I suspect this is a follow up question to Episode 191 How to Track Your Marketing Efforts. Which if you haven’t listened to that episode, I highly recommend you go back and listen.
Why This is Important
There is an old saying: “What Gets Measured Gets Managed.” Part of the reason authors work so hard at social media is all of the feedback you get for your activity. That feedback feels like measurement, but it isn’t unless you are tracking it and then using that information to make better decisions.
Measurement is what separates masters and bozos.
Part of the reason this podcast has been able to last so long is that we aren’t stuck on any one marketing approach. A lot of marketing gurus have there specific set of techniques that they stick to long after they stop working.
Some of my guiding principles of marketing are:
- Each author is different au.
- Experimentation is the key to finding what works for you.
- The lesson I learned the hard way the first time I gave advice.nd their marketing approach must be tailored to their specific strengths and weaknesses. Just because something works or doesn’t work for others doesn’t mean it will or won’t work for yo
Step 1 Start Collecting Data
You can’t use data you don’t have.
Collect data before you need in. You can retroactively install Google Analytics for instance.
Listen to Episode 191 How to Measure Your Marketing to learn more about how to collect data
Step 2 Write Some Questions
Computers are great at answering questions. They are terrible at asking questions.
Some questions you could consider starting with:
- Were sales up or down last month?
- Do my promotions on Facebook boost book sales?
- Do my ads on Facebook pay for themselves?
- Do my promotions on Twitter boost book sales?
- Does my website traffic correlate in book sales?
- Are my followers… mostly men or women?
- What blog topics get the most attention?
- What is my sell through rate?
- Did my bookbub ad pay for itself?
- Are my Amazon ads making money?
- How many additional books did my podcast interviews help sell.
- Did that blog tour sell any books?
- What is the lifetime value of a new reader?
- How much of my revenue comes from ebook sales?
Step 3 Keep a Marketing Journal
Analytics measures effects. This won’t make any sense unless you know how to connect those effects with causes. The first step to figure this out is to start journaling your marketing activities.
I have a fortnightly Mastermind Call where we check in and update the group on what is up and how we are doing. I’ve been keeping a written log of my updates for the last couple of years. This serves as a good journal of my marketing efforts.
If you are using an editorial calendar, you already have a journal. You can look back and see what you did to promote your book on x date.
Step 4 Create a Dashboard
Step 5 Set Some Benchmarks
- What are typical sales?
- What is my typical traffic?
- What is my typical engagement?
Step 6 Run Experiments
This is where you try an new idea and see if it makes a difference. The goal is to beat your benchmarks. If you normally sell $100 in ebooks a month, you want to boost that.
Experiments can also include stopping activities you’ve been doing.
- How much do sales drop when I stop buying Amazon ads?
- How much do sales drop if I take a break from Facebook for a month to write my next book?
Step 7 Evaluate the Experiments
Other things you can do with your data:
Run retroactive experiments.
Podcast guesting gives you:
- a high-credibility way to reach new audiences
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- access to influencers you couldn’t reach any other way
You don’t need to hire a PR firm for $3000 to schedule your podcast interviews. You just need to know how to pitching podcasts yourself. And, once you start nailing interviews, podcasters will start reaching out to you to invite you on their shows.
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If you are ready to get your book the attention it deserves, this course is for you.
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Living in tropical Costa Rica, Benjamin loves writing whimsical adventures for children of all ages. Having published 3 award-winning, independent, middle grade novels, he focuses his writing on modern fairy tales that are fun for kids and thought provoking for adults.
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