How to measure ROI of book marketing promotions
Marketing a book is an ongoing effort. If your content is evergreen, meaning the topic is timeless, then you will continue to launch new marketing campaigns year after year for your book. As time marches on, it can be difficult to know which marketing strategy really worked. If you spoke at an industry conference at the same time you mailed out 500 copies of your book, how will you know which book marketing promotion had a greater ROI?
Landing pages are one page websites that have a unique web address. The purpose of a landing page is to capture the attention of the visitor with one simple step; usually signing up for an email newsletter. Landing pages are different from book websites. Book websites are more complex and may have several pages of information.
ROI Case Study: Consultant Steve
Steve is speaking at a local Entrepreneur Organization event this month. He’d like to schedule new in-person meetings to sell his consulting services, but there isn’t much time for networking after his speech. Instead, he creates a landing page specifically for those in his audience. On his final powerpoint slide, he mentions the web address that will give every person in the audience a free chapter of his book. A week later, he checks his landing page analytics and sees that 10 people signed up for his newsletter in exchange for the free chapter. He decides to send a gift copy of the book to six qualified leads. Since it cost him just $600 in travel expenses, his acquisition cost per lead is $100 ($600/6 leads).
Steve also ran a $3000 ad for his book in the paper in hopes of catching the attention of the business section readers. Steve created a second landing page that spoke directly to the audience in that area of the country which helped him get 100 newsletter signups. 15 out of 100 were qualified leads for his consulting and received a free book. His acquisition cost per lead for the ad was $200 per lead ($3000/15 leads).
Looking back, both campaigns were successful for Steve because they both resulted in qualified leads for his consulting business. His landing pages help him see that the ad generated twice as many qualified leads, fifteen compared to six from the speech. But, it all comes down to the cost. The speech had a better ROI and he should spend his next dollars on doing more speeches like that one.
Now that we know how to calculate ROI using landing pages to track interest, our next step is to create the ideal landing page.
Landing Pages should:
- Speak to one audience
- Have a unique web address
- Be clutter free
- Measure traffic and conversion numbers with google analytics
- Highlight one key offer or “bait” like a free chapter
- Qualify the lead with a few screening questions