What’s My ROI (Rate of Return) on a #1 Bestseller Book Launch?
“What’s my ROI?”
This is a common question I get asked when authors are considering doing a bestseller launch. Unfortunately, most authors generally don’t like the answer I give them because the truth is that I don’t know.
It depends on your business model and your marketing plan.
If you pre-sell your books, you will make money and you will pick up clients if done properly.
If you speak and sell books from the back of the room, you will make money and pick up some clients if done properly.
If you do joint ventures with influencers who have solid lists in your market, you will sell books and pick up clients if done properly.
It depends on you!
What I do know is that most authors are not going to sell 4,000 books the first weekend, like my client Stephanie Scheller Dupre did! And they, most likely, are not going to make their money back in a week or make 6 figures in 90 days, 6 months or even a year just from doing one #1 bestseller launch, but it can happen and does for some authors.
What it will do for sure is give you increased credibility and expert status, help you get media attention, and attract the clients that you want to work with. And it’s a great strategy that you can use over and over to boost visibility and book sales, but it’s not a get- rich quick scheme.
And how well your launch does depends on a number of factors including:
-how large your following is
-your topic, and the keywords, and categories you choose in Amazon
-who you can get to help you spread the word (if anyone)
-how much marketing you do before your launch
-how much marketing you do during your launch
-and how much marketing you do after your launch
I have seen authors do a #1 bestseller launch and have amazing results, and I have seen authors do a launch, become a #1 bestselling author, and then do nothing to leverage it to grow their business and have nothing more happen. I have also seen authors get fabulous results from a #1 free ranking alone.
However, many authors miss out on the opportunities that can arise from getting a #1 ranking in Kindle because they don’t want to give their book away. But, they don’t realize what a missed opportunity that can be.
Here are two case studies from clients of mine who reached #1 Bestseller in free:
Gerry Chambers attracted the attention of a publicist who took her on for free, got her 230,000 Twitter followers, and made her one of the top 100 entrepreneurs to watch the year she launched, coming in at number thirty.
Jacki Ruka. was featured in the Sunday Lifestyle section front page of the San Diego UT right away. She got what she described as “a ton of coverage from it” and it leveraged her brand. Fast forward three years and she was just asked to be interviewed for the Mind, Body Soul edition of a magazine and the photographer and writer want to market her now. She said, “This literally came out of nowhere…. as a best selling Author, it gives you instant expert factor and credibility.”
And, I have also seen authors get great results from ranking #1 in both free and paid.
Dennis G. Shaver used his book, The Entrepreneurial Incubator, to attract speakers to a summit he hosted. He then attracted Shark Tank’s Kevin Harrington as a mentor and an on-stage speaking gig in Singapore along with consulting opportunities with big companies in the States. His book has continued to appear on the bestseller list for over a year now and he will tell you his dream has come true and it all started with a #1 bestseller.
Christopher Lochhead used the release of his book, Niche Down, to get himself and his co-author, Heather Clancy, publicity on The Marketing Journal Blog. He also leveraged his relationships to get publicity for his book; it went out to one list that I know of, of over 200,000 people in his market! And, he got an endorsement from another podcaster who gets over 4 million downloads a month and will be making a return appearance now that the book is out. And his book started selling like crazy right away!
So, it’s clear from these examples that you never know for sure what will come from your launch and what your ultimate ROI will be, every author is different. But it will move the needle forward in your business, guaranteed! . So stop thinking about it and just do it! It doesn’t matter if it’s a new book, or if it’s been out there for weeks, months or years! The rewards are well worth it!