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Thursday, June 25, 2015

ROI - Return on Investment

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The first question you have to ask yourself when you're discussing ROI is 'what return am I expecting?' and 'how much am I willing to pay for that'?

For some folks, especially first time author with their first release, your return on investment may be simple name recognition - something that's invaluable to most new authors who need to have their name and/or genres recognized.

For others, ROI is how much money do I have available, how much am I willing to spend, and of that money spent what am I getting in return.

There are a number of promotional sites on Facebook and elsewhere that will allow you to post promotion for free - but you get buried beneath the sheer number of links that people add to such sites. ROI can also be about reputation. If you're posting on a free site, but most of those who add their links have ugly covers and bad grammar, you'll be tarred by that same brush. There are also sites with great reputations like Facebook and Goodreads that pay by the click, but the return is questionable for most. Amazon now offers a similar service, but the ROI has yet to be determined.

On the other hand, there are sites like Bookbub and E Reader News Today, that offer a better ROI by dint of several factors, price and selectivity. The price isn't of the book, but of the listing. Some sites also charge more or less depending on the most popular genres. That can be anywhere from $10 to over a thousand dollars on Bookbub. Most require that you discount your book somewhat.

All of the most effective sites require a certain number of good reviews, a good cover, and at least some indication of good editing. In other words, quality.

On Bookbub, for example, one of the the good sites, a mystery offered for free will cost $400, but a book offered for $2.00 or more will cost $2,000. You might make that much money from sales - but you might not. Other sites might only charge $10 to $25.00. $10.00 isn't a huge outlay for a little promotion, but before using some sites, I'd advise asking other writers how effective their advertisement is.