On May 17th I released ‘Impressive Bravado’ as a free story on Smashwords. In the back I had an ad for ‘Let’s Do Lunch’ with the websites. The story was free until June 1st.
I expected to see some sales of LDL because of ‘Bravado.’ So I also ran a banner ad and dropped the price to $.99. I was ready for something to happen – but as the days ticked by nothing did. Ninty copies of “Impressive Bravado” went out – before the end of the month. A MONTH later my sales picked up – I’ve sold several e-books.
The reason I feel so stupid is that I just thought of this 20 minutes ago. The lag from ‘action’ to ‘reaction’ was so long and the numbers so small that I didn’t get the connection.
Which brings me to another problem I’ve got – inability to think in the right scale. I think in hundreds – hundreds of hits, hundred copies, hundred dollars. I have to stop thinking of ‘copies’ sold, or given away, instead I need to adopt ‘units’ as my measure.
I’ve got the right strategy – ‘Bravado’ free, blurbs in back, ‘Let’s Do Lunch’ priced at $.99, banner ads up – then leave it alone until…end of the week, end of the month, end of the year?
John Locke sold 1 million ebooks @$.99 each in 5 months. Some people say he shot himself in the foot by not charging $.299.
This is a completely different business model. Not units of food sold, not drinks sold, not cabinet’s sold. This is hours of time…
Time is the second scale that I need to expand. Thinking in hours or days isn’t getting me where I want to go. Time is the one scale that I’m not sure of yet.
How do I measure time to my best advantage?
Hours of time spent writing vs hours spent marketing?
Product in units * markets – advertising/marketing = units sold?
Weeks of time on sale vs units/month of sales?
Months of time on sale vs units/year of sales?
Four years of self-study and the learning curve is still kicking my ass.