Summary: In this episode, we talk about four advertising fundamentals that apply when buying ads on Facebook, Amazon, GoodReads, and more!<br> News<br> <br> <a href="https://www.writefromthedeep.com/how-to-deal-with-haters-with-thomas-umstattd-jr/">Thomas on Write From the Deep Podcast About Haters</a> by Karen Ball and Erin Taylor Young<br> <br> <br> Sponsor:<br> <a href="http://www.mybooktable.com">MyBookTable</a> is a way to quickly and easily build an online bookstore on your WordPress website. Use it to rank #1 on Google for your book and to boost your book sales on sites like Amazon and Barnes and Noble. Get it free at MyBookTable.com. Novel Marketing Patrons save 25% on <a href="http://www.mybooktable.com">MyBookTable Pro</a>.<br> <br> Talking Points:<br> In this episode, we are going to talk about the fundamentals of advertising. <br> 1) Have a “Good” Book<br> <br> Excellent Cover that makes the right kind of promise <a href="https://www.novelmarketing.com/106/">106</a> & <a href="https://www.novelmarketing.com/107/">107</a><br> Excellent Back Cover Copy <a href="https://www.novelmarketing.com/111/">111</a>. TLDR: Make people curious. <br> Lots of Reviews <br> Budget in advertising into the book’s price. (Advertising often means you need to charge more)<br> <br> <br> 2) Measure Measure Measure<br> <br> Find out Cost of Reader Acquisition | CRA $ Dollars Spent ÷ Books Sold = Cost of Reader Acquisition <br> Track Sell Through Rate Book 2 Unit Sales ÷ Book 1 Unit Sales = Sell Through Rate<br> Life Time Value of a Reader | CRA – Book 1 Profit + (Book 2 Profit x Sell Through Rate) = LVR<br> Track ROI | Profit ÷ Investment = ROI<br> <br> <br> 3) Experiment <br> <br> Test Ad Copy<br> Test Back Cover Copy<br> Test Book Covers<br> A/B testing<br> <br> <br> 4) Follow the Matthew Principle<br> <br> Take money from your in-effective ads and give them to your effective ads.<br> <br> <br> Featured Patron<br> <a href="https://amzn.to/2y927f9">The Seven Deadly Friendships: How to Heal When Painful Relationships Eat Away at Your Joy</a> (Affiliate Link) by <a href="http://www.marydemuth.com">Mary DeMuth</a><br> There’s something wrong with your friendship, but you can’t figure out why. Is everything in your head? Unfortunately, toxic friendships happen to everyone, but we seldom identify the underlying issues while we battle confusion or the friendship breaks up.<br> Maybe you’re left bewildered in the friendship’s wake, paralyzed to move forward.<br> After wading through several difficult friendships, Mary DeMuth reveals the seven different types of toxic relationships and empowers you to identify the messiest relationships causing you the greatest anguish.<br> Releases October 2nd 2018. <br>
