First of all, I am not grumbling. More than anything, I want to share facts, metrics that others wouldn't share with you. I want to be as transparent as possible, transparency is one of the things you tell me you appreciate about this forum. I want for folks to learn how new marketing techniques work. And I sincerely appreciate all of you who e-mailed me to say that you got a free copy and purchased a copy of the book, much appreciated!!
Let's assume that 100 units have been distributed, to-date. Here's the distribution (as of this afternoon ... the metrics changed since the last post due to incremental paperback sales):
- Free Draft Of Pre-Published Book = 72%.
- $7.95 Download Of Finished Product = 14%.
- $14.95 Paperback Copy = 14%.
The $3.21 net revenue per unit metric is probably most compelling. Comscore's disputed statistics in the Radiohead promotion suggested 60% of the units were free downloads, and suggested that the weighted average net revenue per download was about $2.50.
So you can see that there's a level of directional similarity in the numbers. Hey, I have something in common with Radiohead!!
The books are not written for the sole purpose of selling books. They are part of what I would call a "micro-channel" strategy to running my business. There's a ton of free information available on this blog. I speak at conferences. I offer free spreadsheets. I write books for fun and to document important (and theoretically more-valuable-than-free) concepts.
I have learned that, as of today, the most effective strategy in growing my business is the combination of a transparent and informative blog, coupled with books that offer increased insights and sophistication. So if we allocated book costs and revenue across actual projects that were sourced from the blog/book, book sales are "sizzling"!
And that's what makes this whole thing so interesting. The giveaway doesn't work on a "linear" basis --- measuring sales as a function of each unique marketing strategy. A whole slurry of micro-channels work together, and at the end of the day, the whole is FAR greater than the sum of the parts. The giveaway as a sole marketing channel wasn't highly effective. The entire strategy is highly effective.
That's probably the takeaway I needed to share in the original post!
Now go buy the book!