Data to Die For: Data to Die For: eBook Price Promotions k i i Presented by Josh Schanker Presented by Josh Schanker Founder & President, BookBub May 30 2013 May 30, 2013
What is BookBub?
1 million+ members 1 million+ members Books on sale! Books on sale!
What is an What is an eBook Price Promotion? eBook Price Promotion?
Over 50% Off Over 50% Off Regular List Price Regular List Price Limited ‐ Time Discount Window Publisher Initiated Publisher Initiated Multi ‐ Retailer Deal Multi ‐ Retailer Deal
Why do publishers run Why do publishers run eBook price promotions? eBook price promotions?
Give sleepy backlist titles a boost Zzzz Zzzz…
Drive sales of related books
Drive sales of a series
Grow audience and reviews
Exclusive data on thousands Exclusive data on thousands of eBook price promotions of eBook price promotions
Does the size of Does the size of the discount matter? the discount matter?
Response Per Discount Response Per Discount 5x 300% better response! 4x 4x 3x 3x 2x 1x 0x 50 ‐ 59% 60 ‐ 69% 70 ‐ 79% 80 ‐ 89% 90 ‐ 99%
Does price matter?
Response Per Price Response Per Price 3x All about the same??? 2x 1x 0x 0x $2.99 $1.99 $0.99
Not Apples to Apples Not Apples to Apples Bestselling Unknown Novelist Author $2 99 $2.99 $0 99 $0.99
The Typo Test The Typo Test (Same Book – Different Prices) (Same Book Different Prices) $0.99 $1.99
Corrected Response Per Price Corrected Response Per Price Twice the Twice the response! 2x 2x 1x 0x 0x $2.99 $1.99 $0.99
Revenue Per Price Promotion Revenue Per Price Promotion 50% more 50% more 2x revenue! 1x 0x 0x $2.99 $1.99 $0.99
Bounce
BOUNCE: BOUNCE: Percentage change in Percentage change in full ‐ priced sales of the full priced sales of the featured and related featured and related eBooks eBooks
Average ‘Bounce’ Per Discount Average Bounce Per Discount Twice the 6x bounce! 5x 4x 3 3x 2x 1x 0x 0x 40 ‐ 59% 60 ‐ 79% 80 ‐ 99%
Higher Prices: O Optimizes discount book revenue i i di b k Lower Prices: Lower Prices: Optimizes full ‐ price book revenue p p
Free eBooks Free eBooks
Average Response Rates Average Response Rates 10x the 10x the 8x response! 6x 4 4x 2 2x 0x 0x Discounted Free
Average ‘Bounce’ Average Bounce 3x the 3x the 15x bounce! 10x 5x 0x 0x Discounted Free
Do free eBooks o free e ooks condition readers to stop p paying for eBooks? p y g
When I like a free eBook I have… When I like a free eBook I have… 70% Told a friend 69% 69% Bought related eBook h l d k 28% Wrote a review 26% Liked on Facebook 19% Joined e ‐ mail list 4% 4% Followed on Twitter Followed on Twitter 0% 25% 50% 75% 100%
Percentage reading more or the same Percentage reading more or the same 97% 90% 100% 83% % 75% 50% 50% 25% 0% F Free P id Paid O Overall ll eBooks eBooks Books
Closing Thoughts Closing Thoughts
Each Promotion is Different Each Promotion is Different 70 60 50 40 40 30 20 10 10 0 0.00% 1.00% 2.00% 3.00%
“Simply dropping a book’s price doesn’t work well without concentrated promotion.” ‐ BookBub Partner
Summary Summary 1 Choose price strategically 1. Choose price strategically 2 Don’t be afraid of freebies 2. Don t be afraid of freebies 3. Advertise your promotion 3. Advertise your promotion 4. Try different books y
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