Every once and again I try new marketing ideas to bring more readers to my books. A while back I decided to try a Goodreads Giveaway, where I offered to give away three free copies of one of my books. As you may know, I love to talk about the numbers...and let me tell you, they weren't good.
A total of 605 people requested the book, and 241 people put it on their "to-read" list. Of these, precisely zero people put it on their "currently reading" list.
Now, there are several possibilities for why this happened.
- The book cover didn't attract any readers to actually read it.
- The blurb for the book is failing to convert potential readers into readers.
- Giveaways aren't an effective way to promote books.
- Giveaways attract mostly people who collect free stuff (leading to #3).
Either way, I didn't find the giveaway useful, and although I may try it again with a different book, it certainly makes me question the value of using Goodreads' new ebook giveaways. Those cost $119 for the regular giveaway of up to 100 ebooks, and $599 for premium listing of the same. With no guarantee of ROI - and for $599, an almost certain loss of about $599 - I can't justify these promotions as a viable way to market my books.
Has anyone else had better luck with these promotions? If so, let me know!