How many books will you sell? There is a simple formula for this:
SALES = (# of views) X (% of buys)
For example, if 1000 people view your book every day, but only 0.5% of those people purchase your book, you would sell 5 copies per day.
The two ways to maximize sales are to
- Maximize the frequency with which people view your book—i.e. increase your book’s exposure.
- Improve the percentage of people who purchase your book after viewing it—i.e. improve the buying ratio.
If your buying ratio is lousy, any time you spend improving your book’s discoverability is wasted because the buying ratio is inefficient. It would be 20 times more effective to raise your buying ratio from 0.001% to 0.1% (that’s 100x better) than it would be to increase your daily views from 1000 to 5000 (that’s 5x better). (The 20 times more effective compares 100x to 5x.)
Too many authors are focused on increasing the number of views instead of improving the % of buys. The latter may be easier and more effective.
You probably get hundreds or thousands of more initial views than you realize. Amazon.com sells millions of books every day (because the top 200,000 or so sell at least one copy per day, and the top books sell hundreds of books per day, adding up to millions overall). Shoppers view many more books than they buy, so there are probably billions of books seen on Amazon every day. At this stage, I’m saying that the thumbnail has been seen, but the book may not have been clicked on.
Of these billions of views, many shoppers click on one of the Last 30 Days or Last 90 Days links, which helps to find new releases. This filters the search results to help books that are otherwise hard to find get discovered in the first few months of the publication date.
TIP: Don’t enter a publication date at CreateSpace or Kindle. Leave this blank and the publication date will automatically be the date that you click the magic button to publish your book. This maximizes your book’s exposure in the new release categories.
Why should we think that a newly published book buried in Amazon’s haystack may be viewed hundreds or thousands of times more than the sales (or lack thereof) might suggest? (Again, by view, I mean that the thumbnail has been seen, not necessarily the product page.)
Because there are unmarketed books that get discovered and start selling frequently right off the bat. Although this is a rare percentage of books, it does happen, which shows that shoppers are discovering books through the new release filters.
Most books that don’t sell frequently on their own generally suffer more from a poor buying ratio than from poor exposure.
The buying ratio depends on this critical marketing chain:
- What percentage of people who see the thumbnail click on the book to visit the product page?
- What percentage of people who view the product page click to look inside?
- What percentage of people who look inside purchase the book?
This gives us another formula:
% of buys = (% of clicks) X (% of look insides) X (% of closes)
where the percentage of closes corresponds to point 3 from the marketing chain.
Suppose 1000 people view your book everyday, but:
- 990 of them don’t click on it because it doesn’t look like it belongs to a genre that they read. In this case, a simple cover mistake may be costing you many sales.
- 990 of them don’t click on it because the cover doesn’t look like it belongs in the category that it’s listed under. Such a target audience mismatch can greatly deter sales.
- while 500 of those people do click on your book to see the product page, 495 of those don’t look inside because the blurb describes a different genre than the cover depicted. The cover and blurb must send a unified message.
- while 500 of those people do click on your book to see the product page, 490 of those don’t look inside because the blurb doesn’t capture their interests.
- while 500 of those people do click on your book to see the product page and 250 of those go on to look inside, 248 of those don’t make the purchase because the Look Inside doesn’t seal the deal.
If you can improve the buying ratio, it will significantly improve your sales frequency.
There are three steps in the chain. Just one problem with these three steps can greatly deter sales even if the other steps are incredible:
- Improve the effectiveness of your cover at attracting your target audience. Cover appeal isn’t satisfactory. The most effective covers (A) pull you into them and (B) grab the specific target audience.
- Improve the effectiveness of your blurb to engage the interest of and arouse the curiosity of your target audience.
- Improve the effectiveness of your Look Inside in convincing your target audience that your book is Mr. Right for them.
A great cover with a lousy blurb = many lost sales.
A great cover and great blurb with a lousy Look Inside = many lost sales.
It’s really hard to make all 3 fantastic. But that’s what it takes to achieve a highly effective buying ratio.
Consider these points when designing your cover:
- Spend hours researching bestselling covers within your specific subgenre. Find top sellers overall, good sellers with content similar to yours, and the best indie books. These are the kinds of images, font styles, and layouts that attract your target audience. But note that top authors and publishers can get away with a lesser cover due to name recognition.
- Study cover design tips and mistakes. You can find such lists here at my blog, for example (click the Cover Design tab above).
- Consider hiring a cover designer. You might think you can’t afford one. It might turn out that you really can’t afford not to have one. If you get a highly effective cover (now that’s a big IF, not guaranteed by hiring a designer, so do your research well) that improves your buying ratio by 10 times, that could make a huge difference over the next few years (especially, when you finally reach the level of having a professional author platform and several books out). On the other hand, if the blurb, Look Inside, or content greatly deter sales, that will put a huge dent in your cover’s potential effectiveness. There are no guarantees.
- Get feedback, especially from your target audience. Be patient and redesign as needed.
Consider these points when writing your blurb:
- Spend hours studying the blurbs of top selling books in your specific subgenre. What makes these books seem interesting? Does the writing flow well? Are the easy to read, or do you have to puzzle them out? Do they engage your interest throughout? Do they arouse your curiosity and make you want to click to look inside?
- Don’t write a summary of your book for your blurb!
- Ask yourself and your beta readers which elements of your book are most likely to attract interest in your book. Your blurb should use these effectively to draw out the shopper’s curiosity. You don’t want to give out information, but want to plant seeds that will make the reader want to know more.
- Every sentence of your blurb needs to engage the shopper’s interest. Any sentence that doesn’t can greatly diminish your buying ratio.
- Any spelling, grammar, or punctuation mistakes can greatly deter sales. Let’s face it: If you make a mistake in a 100-word blurb, that doesn’t bode well for writing tens of thousands of words well. Get help combing through this carefully.
- Make sure your blurb reads well, flows well, and will be easy for your target audience to comprehend. Most people are looking for an easy read.
- Shorter is often more effective for fiction. Anything extra increases the chances of the reader walking away. Come out punching, hook the reader, and make the reader look inside to learn more. For nonfiction, concise may also be good, though there are also benefits of showing expertise, qualifications, and listing selling features. If so, use basic HTML or go to Author Central to separate your paragraphs with blank lines and to use bullets to list features.
- Get feedback, especially from successful indie authors and your target audience. Be patient and rewrite as many times as it takes to nail it.
Consider these points when preparing the Look Inside:
- Browse through dozens of professional looking Look Insides of top selling books in your genre and compare them closely to your book. Don’t copy them; rather, learn what makes them highly effective.
- Good editing and formatting are more important than many authors realize. Books tend to have more mistakes than the author realizes because the author tends to see what he or she meant to write rather than every word exactly as it was written. Get help ironing out your Look Inside. Your Look Inside is the only salesperson at Amazon making the difference between Buy It Now and Walk Away. Yeah, it’s that important.
- The Look Inside needs to grab the reader’s interest right off the bat, arouse the reader’s curiosity, and seem like the kind of book that the cover and blurb depicted. The cover and blurb create expectations; the Look Inside must deliver on the promise.
- The Look Inside must read well. The words should flow well. Even little things, like avoiding repetition, varying sentence structure, organizing your ideas well into paragraphs, dialog tags, and consistent style can have a significant impact if everything else is right.
- This last point is huge. Your book idea has to have a significant audience (or a significant niche audience), and the category, cover, and blurb have to be effective at reaching this audience. The first step really is to research the potential of your book, starting by finding similar books and seeing how well they do, then by receiving ample feedback before, during, and after your book is written.
Putting extra time into perfecting the effectiveness of your cover, blurb, and Look Inside can pay huge dividends over the lifetime of your book. Rushing can cost you big time.
The X Factor
There is another factor that can have a huge impact on your buying ratio besides your cover, blurb, and Look Inside:
The impression that the content of your book has on your audience.
This make a big difference in the way of reviews, recommendations, and word-of-mouth referrals.
If you have a fantastic cover, a killer blurb, and an amazing Look Inside, but the content fails to meet the expectations that the cover, blurb, and Look Inside created, everything can backfire.
Bad reviews that highlight important points (i.e. important to buyers) which shoppers can corroborate with your Look Inside can kill your buying ratio.
So it’s also worth perfecting your content. Perfect your storyline, characterization, editing, formatting, and writing. This can make the difference between favorable recommendations and unfavorable criticism. You can’t completely avoid criticism because not everyone shares the same interests, but you want to do your best to limit it and to encourage positive feedback.
There is an abundance of good content already on the market. Writers who can achieve something extraordinary have an opportunity to stand out with marked word-of-mouth referrals. It’s not easy. Sometimes a story or character is just so memorable. Study stories and characters, especially those in your subgenre, that are exceptionally memorable.
There are two more ratios that are worth considering as they also impact your net sales:
- Your return ratio: How often a customer is dissatisfied with your book.
- Your referral ratio: How often a satisfied customer helps you reach a new customer.
The higher your buying ratio:
- The more books you will sell without marketing.
- The more effective any marketing that you do will be.
For a given buying ratio, there are two ways that marketing can help sales:
- Marketing can help you improve your book’s exposure. More views among your target audience means more sales.
- Marketing can help you improve your buying ratio. Personal interactions can help stimulate sales even if the cover, blurb, and Look Inside are lacking to some extent.
Marketing is most effective when your efforts reach many people in your specific target audience who don’t already know about your book.
For example, spending a little time every week over the course of several months to prepare content toward developing a content-rich website that will attract hundreds of people from your target audience through search engines every day can give you amazing long-term exposure. 100 people per day equates to 36,500 people learning about you and your book every year. It’s an activity that can start out very slowly at first, but if done right can be highly effective after a year or more.
However many copies you sell, whether it’s a few a month or several per day, imagine if you could multiply this number by 2, 5, or 10. Going from 3 per month to 6 per month may not seem like much, but your book won’t be available for just a month. What if your book continues to sell for years? After a decade or lifetime of sales, multiplying all those sales by 2, 5, 10, or more could turn out to be huge.
This is especially true if you’re not trying to be a one-hit wonder. Most new authors’ books struggle. It’s not easy to get discovered. But there is a lot of potential for good writers with good ideas who persevere.
Focus on long-term success. Imagine having several similar books on the market. Now every book that you sell has the prospect of helping to market your other books. Anything you can do to improve your buying ratio can pay added dividends by helping to sell your other books.
Work toward having a professional author platform in the long run. Do a little here and there with this long-term goal in mind. Do marketing that is likely to reap long-term rewards.
I started this blog to provide free help with writing, publishing, and marketing. You can find many free articles on publishing and marketing by clicking one of the following links:
Chris McMullen, Author of A Detailed Guide to Self-Publishing with Amazon and Other Online Booksellers
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Great way to break down the complexities of selling books.
Thank you for the kind comment (and also for the heads-up you gave me). 🙂
My pleasure 🙂
Thank you. 🙂
Great way to break down the complexities of selling books….
Thank you. 🙂
I love it when a scientist puts things into numbers – it makes so much more sense.
You’ve thought a LOT about all of these details – and I get to just read them and absorb them. Thanks for the effort, as well as the information. You’ve doing exactly what you tell other people to do: essentially, pay it forward.
I’ll be rereading a lot of your posts – and thinking very kindly of you – as I get to the end of Book 1 of Pride’s Children (being serialized on my blog as I do that) – and get it ready for prime time out there in the real world of 2014 digital and print publishing.
I don’t have to reinvent all the wheels – just find some unique niche in the careening car. People who have tried marketing plans – and write about them – make me compare what I have with what they are selling – and I see in a lot of places what will work for me – and what won’t.
I like that pay it forward concept. 🙂 Thank you for your thoughtful, detailed comments, and good luck with your book. 🙂
Reblogged this on Chris The Story Reading Ape's Blog….. An Author Promotions Enterprise!.
Thank you. 🙂
Useful, intelligent and thought provoking. Well done that man!
Thank you for the kind words and the reblog. 🙂
Reblogged this on Random Ramblings and commented:
Thank you for sharing this. 🙂
I kind of like the part of avoiding a bland book description in the blurb. I’m thinking of changing the blurb for my 4th book. I hope it will increase interest. Thank you! 😀