Now that my company is publishing more and more Kindle books (we just published our very first novel this past week and it's already selling like crazy and hit the #1 spot in its category), I've been researching Facebook ads and how effective they are promoting low cost items, such as an ebook.
If you've read some of my recent blog posts you'll know that I have tested (I spent several thousand dollars) Facebook ads. But the ads I tested were all for higher ticket items. Now it's time to test them out for lower cost items. I plan on running low cost Facebook ads to promote some of our Kindle books. After all, I've heard of a couple of people claiming they sell several hundred copies of their Kindle book a day using FB ads, but I have my doubts.
But with that said, Facebook ads are very low cost. I've been able to get the cost of clicks (CPAs) down to as low as 3 cents a click. I'll be sharing my results in the coming weeks, but in the meantime most publishers seem to be struggling with it, at least in the beginning. Here's an article with some stats that one Kindle author reported....
Well, a long time ago (April 21st, 2009), I tried out Facebook's ad campaign with mixed results. Enough time has passed and I've saved up enough cash that I decided to try again.
I chose to advertise my recently released eBook DUST.
As you can see I made up a clever ad (which is relatively easy to do with Facebook Ads) and pressed the "go" button. Facebook allows you to choose your target audience, so I selected America (because the eBook is only available there) and young adult/horror. I chose to pay $5.00 a day for three days. Because I published this version of DUST it meant that I could track sales exactly. My hope was that people would see the ad, click on it and go directly to the Amazon kindle site, then voila--buy the book. And I'd pay off my mortgage (okay that's more of a long term goal).
Here were the results:
As you can see there were 91,000 impressions and 49 clicks. And the number of books sold during that time period = 1. Yep, only sold one. I needed to sell at least 8 to break even.
Now I didn't expect the ad to sell bundles of books. First the person who clicks on the ad would have to own an eReader, then they'd have to have $2.99 to spend, and finally be willing to take a chance on an unknown book. So obviously this ad wasn't hitting the impulse buyers (all I need is about 100,000 impulse buyers...is that too much to ask).
I appreciate the stats and feedback the author provided, but unfortunately the research data isn't a large enough sample size. 49 clicks with one order just isn't enough data to make a solid decision. For example, if he received another 10 clicks and that generated an additional 3 orders, then it would have changed the dynamics a lot. Conversely if he received another 200 clicks with zero orders, then that would also change the stats a lot. I believe you need several hundred clicks or maybe even 1,000 to crunch some decent data.
The second problem is, he was paying an average of 31 cents a click. That's just way too high for a low ticket item. I expect to pay that much per click on my $100 - $400 products, but not on a $2.99 Kindle book.
Anyway, we'll see what my test results are. I'm not expecting it to be profitable, but I would like to see a larger data sample and much lower costs per click. Stay tuned for some Facebook Kindle book action...