ROI Ouch

This Week's Topic:  Worst ROI Ever 

The list of low/bad Returns on Investment (ROI) in which I've engaged is long. Whether the returns I'm measuring are cash or brand awareness, there have been some painfully wasteful lessons learned. In some instances, the investment of time far exceeded the returns (hello, social media, looking at you). In others, the hundreds of dollars in cash investment earned less than $5 of return. Those instances can be split between CPC Ads and email-blast companies. 

ROI on ads is a struggle for anyone selling anything, from indies to MNCs, so I don't weep over those losses. Curse? Yes. Sadz? No. I expect losses there; I even budget for them. 

Email-blast companies, on the other hand, I expect more from since bumping up my sales is their core business. The leader in the space, BookBub, is worth the investment for free or $0.99 books in my genres. Higher than that, and my ROI becomes a loss. There are other, smaller blast companies whom I've paid and received nothing. Not one sale, not sales page hit, not one website hit. Not even crickets were aware of the promotion. Sometimes I've had to go eight clicks deep into a blast company's site before getting to a sales link for my purchased placement. Ooof. Yeah, yeah, the blame's on me for not investigating that better before purchasing. Because I'm generous, I'll share my mistakes to save you some $$ and heartburn.

Before buying placement in an email blast, do a bit of due diligence. Check for reports of:

• Crappy Creative
• Are they using your book's cover? Are they using the image with proper ratio/sizing (or is it cropped, stretched, blurred, etc.)? What about the accompanying text? Is there any? Who is writing it? Who approves it? 
• Inflated subscriber numbers
• They're not outright lying about how many accounts have subscribed (though unscrupulous businesses could be), but they're not including how many accounts are bots or how many unsubscribes they have.
• Email open-rate is lower than the industry average
• Few blast companies report their open-rates under the protection of proprietary info.  Anecdotal information should give you a clue.
• Expanded inventory w/o notification and cancellation options
• This is a problem because it lowers the value of the purchased placement--aka instead of placement as 1 of 5 promotions in the email, the placement is 1 of 25 promotions.
• Misleading Marketing Messaging
• They promote themselves as an email-blast company, but the fine print on their website never explicitly states that your book and its buy link will be in that email. Instead, your book's info is lumped under a larger promotion (e.g. This Week's Fantasy Discounts) and buried more than 1 click off the email.  
• They upsell additional placements within their brand (social media pages, website, genre-bundles, etc.) with the classic "increase visibility up to XX%." That "up to" is a deliberate vaguery meant to disguise that what you're buying isn't worth bupkiss.
• Non-Consent Backblast
• The absolute worst sitch is buying placement with a blast company whose email list is built on harvested and/or non-opt-in addresses. Not only do you lose money, but you also lose reputation. This can happen with startups and companies under new management, so triple check before buying.

Admittedly,  I have eagerly supported the underdog/new businesses competing against the big guys and lost money (but not reputation).  Yes, I knew the risk I was taking equated to my purchase being on par with a charity donation. However, those risks were ones I could afford to make. 

As always, adhere to the golden rule of marketing and investments: 

Never spend more than you can afford to lose. 

Calculating ROI - and Accounting for the Intangible

Our topic at the SFF Seven this week is our worst ROI ever. So many to choose from!

ROI is industry shorthand for Return on Investment. It's basically a calculation for financial health of a business. I looked up the origin and found out that Donaldson Brown created the term.

As the Assistant Treasurer [of DuPont] in 1914, Brown developed a formula for monitoring business performance that combined earnings, working capital, and investments in plants and property into a single measure that he termed “return on investment.” It later became known in academic and financial circles as the DuPont Method (or Model) for Return on Investment. The measure was widely taught in business schools and adopted by many companies as a means of benchmarking the financial health of their products and businesses.

That's interesting, because I wondered if it was an old model. Turns out it's over a century old!

Also, the term comprises much more than I think most writers mean when they use it. When I hear writers talk about ROI, it's always whether a particular effort - a conference, buying an ad, buying into an anthology - will be more expensive than the sales it generates. Many reduced it to the simplest math: "If I spend this much attending a con, will I earn more than that on sales of my books?" Often husbands are cited as putting forth this equation, usually as justification for wives not attending cons.

When asked for my opinion there (and sometimes even when NOT asked), I have always said that conferences of all types provide an intangible ROI. Networking and getting your books in front of people give long-term results that aren't always quantifiable. Since I was doing a bit of research, I looked up if anyone thinks the DuPont Model for ROI is antiquated. Turns out there's this:

We demonstrate that firms 'assets are becoming increasing more intangible, and the traditional DuPont Analysis omits this crucial piece of a firm's ability to generate profit.

Those folks are talking market equity, but it occurs to me that many authors looking at simple math and short-term sales are failing to account for the intangible value of building recognition for their work over the long term. 

But I digress. 

The topic today asks about my personal worst return on investment. Since I don't really do the calculations - see above - I don't know a precise metric. I can, however, share an investment regret. When my very first book came out, the essay collection Wyoming Trucks, True Love, and the Weather Channel, a friend of mine, Chuck, told me one of HIS great regrets was not buying a case of his first book. The first edition was worth a great deal and he was sorry not to have done that. So, I bought a case of my books!

Reader: I still have most of them.

See, my first book didn't sell tons of copies and I have not become an NYT bestseller with a TV miniseries based on my books, unlike Chuck. He meant well, and I adore him for thinking that I would have the same trajectory, but I'm not C.J. Box, alas! 

I suppose the key takeaway here is that there is no one size fits all advice. 

Also, that the ROI on cats is always solid.

 

Tik Tok Trends - use 'em or lose 'em?

 

Photo by Thought Catalog on Unsplash

Tik Tok doesn't come naturally to me, as our other SFF 7 authors have also noted for them. But in the last year or so I've been trying to connect with readers on the app--because there are millions of readers on BookTok looking for their next read.

Just as readers go to Amazon to buy books, so readers flock to TikTok to discuss books. They're talking about their latest read, showing off their TBR list, and sharing funny trends and memes that have bookish content. Who wouldn't want to join in on the fun?

Well, introverted authors, or authors using pen names, might not love having to show their faces. Also, it can be challenging for those of us who are over the age of 25 to keep up with the fast pace of the trends. And there are so many users generating content that it is not easy to go viral without devoting a great deal of time and effort into the app.

Some authors seek a formula for success: use these words in your caption, make a book-flip-only account, post x number of times a day. The algorithm has its own mind, though, and what works for one author won't work for you. Although there is no single way to succeed, there are many ways to engage readers on the app. Trends can be a fun way to do this. 

When I started, I found BookTok follow parties were a great way to find like-minded readers and grow your following. The BookTokers I follow use simple and elaborate posts--some take no time to create and others can take hours. I've tried some of the easy kinds of posts that many BookTokers do: Meet the BookToker, Book Challenges, book flips, and book stacks, for example. Most of them can be done with a stack of books or even a single book. Others need you to stand and point, or lip sync to a sound. It takes time, but some authors say this time can be worthwhile to gain a larger following. It's rewarding to make short-form content--so different from novels!--and this creative outlet can provide more immediate gratification than book-writing does.

I'll never be someone who sets a trend, but it can be fun to participate in the community. There are lots of BookTok sounds you can find if you search "booktook trends" that can provide you with ideas. I've only dabbled in using costumes for posts, but I would love to do this more. These are more involved and I don't have the time while I'm teaching. Summer would be a good opportunity to experiment.

Proper BookTokers have a lovely full wall of books, but this isn't a requirement for everyone. TikTok doesn't want everyone to look and be perfect, it prefers authenticity and informal or spontaneous posts (even though many influencers devote a great deal of time to their posts). This approach is appealing to me. Sometimes I feel too chaotic and messy for Instagram, so showing more of my real self on TikTok seems more natural. I'm still getting comfortable onscreen and I haven't found my niche yet, but I've learned to focus on having fun and making connections rather than trying to make the perfect viral post.

Hail the Traveler and Farewell

Today, we pause to wish fair winds and following seas to a friend and author who was a member of the SFF Brigade for a good long while. This week, James A. Moore passed away. 

James wrote over 50 grimdark fantasy and horror novels, games, and comic book scripts. He was a three-time nominee for the Bram Stoker Award. He, in conjunction with good friend Christopher Golden, won the Shirley Jackson Award for editing horror anthology The Twisted Book of Shadows. He delighted in supporting and mentoring other writers. 

Here on the blog, James was a kindhearted contributor who always had encouraging words for the rest of us. He challenged a few of us to write outside our comfort zones. He will be missed. 

Because authors in the United States do not always (or even usually) have anything approaching adequate health insurance, James's illness took an enormous toll on him and his family. As a result, James's friend, Christopher Golden has organized a fund raiser to help offset Memorial Expenses and to support James's widow. The family requests memorials there in lieu of other condolences. 

If you remember James, or even if his name and books are new to you, you can also support his surviving family by picking up his books. 

Striking Social Gold

Oh trends, what fickle things they are. 

If that sentence doesn’t tell you where I stand…then I guess I need to elaborate. This week we’re talking about TikTok. Technically we’re talking about Tick-Tock trends, Jeffe decided to keep the typo and I kinda like it. 

I also like what Jeffe said: only do the kind of social media you enjoy. I’m paraphrasing, so check out her post for the direct quote AND you’ll see some gorgeous book covers! But back to that author social media stuff. If you don’t enjoy it then you’re not going to do it well. Or often enough. Which means it’ll be difficult to reach readers through it. 

Videos aren’t my creative outlet, so TikTok doesn’t appeal to me. Yes, I get sucked into watching the feed on Instagram, who doesn't, but I limit the amount of time I spend on there. As for TikTok, I long ago decided if I’m not actively participating by posting my own content on a social, I’m not going to spend my time using. So this week’s topic got me curious about the positives that surround trends, specifically BookTok.

There have been a number of books that began as a concept or gainted a pre-pub following on BookTok take off successfully. One that I read and thoroughly enjoyed was Assistant to the Villain. There have been others I DNF’d. I didn't know Assistant to the Villain or the ones I DNF'd were BookTok books until after I'd read them and some because I looked up BookTok books to write this and found out their origin. Maybe I haven’t read enough BookTok-spurred stories, but I don’t feel they’re any better or worse than books I find in other ways. However, I acknowledge it’s a new avenue to reach publication and readers. 

It’s sort of like BookTok is the new Twitter-fest for books. #pitmad and #pitchwars were golden opportunities for savvy writers to craft 35 word hooks for their books. I know authors who landed publishing contracts that way. It was exciting and thrilling—the Twitter pitch-fests ushered in a new way to connect authors with agents online. It blew attending conferences in person for pitch sessions out of the water. Twitter provided authors a way to find publishing contracts and/or promote books from the comfort of their own homes—pantless! I'm sure there was a small percentage of people who were pantless. It seems to be a thing people crow about. 

What it really boils down to is our social media usage evolved and so did the way writers use it. And it’s not going to stop changing.

There will be another new social that people glom to and authors will find a way to sell their books and book ideas with it. And after that new shiny there’ll be another, and another. So it really goes back to: make sure you have fun with whichever social you choose. (if you read between the lines it says: don’t do them all, you’ll burn out) If you’re one of the lucky ones and you find an open door on a social—congrats! And I hope you remember what it was like when all you had were dreams and reach a hand back for someone else when you’re able. 

Trendy? Eh, no.

 This Week's Topic: Tik-Tok Trends: Have I Tried Any Reading or Writing Trends?

Oh, y'all, no. Not even when I was in middle school--when being fashionable was a social life or death necessity--was I trendy. These days, I'm vaguely aware of what's what, and even then only the hype in my genre. I'm aware of the Fourth Wing phenomenon and the rise of Romantasy as a marketing category (romantic fantasy and fantasy romance have always existed, it's just that Publishing didn't want to acknowledge it, because ewwww Romance cooties! {eyeroll})

As a reader, I'm interested in the on dit because big sales numbers means the gatekeepers will shepherd some really good books that were previously rejected because "there wasn't a market for that." Admittedly, I usually wait for the second or third wave of the trend, so I reap the benefit of the hidden gems finally getting their due.

As a writer, I pay attention to trends for the sake of my advertising but not for my creative process. I don't write fast enough to release to an ephemeral trend. Ah, if only!

As for using Tik-Tok itself, that'd be a hard nope. Ain't nobody needing to see the disastrophe on this side of the screen.

New Covers for Sorcerous Moons!

 Our topic at the SFF Seven this week is "Tick-Tock trends—have you tried any reading or writing trends?" 

I'm leaving in the misspelling, just so you get how clueless we are. ~ Shakes cane at kids on lawn ~

Regarding TikTok - lol! - a social media property that originated in China, no, I don't follow or attempt the trends. I sometimes feel like I should. I do have a TikTok account - https://www.tiktok.com/@jeffe_kennedy - and I even have over a thousand followers there, even though I almost never post anything. The followers are due to very kind and generous fellow authors who do the Tiks and Toks better than I do. (Shout out to Vela Roth and Lisette Marshall!)

So, I know that I really should post to TikTok, and I sometimes think about it, and even occasionally do it. But I also remind myself of advice I've been giving since the beginning of social media, which is that you "should" do only the kind you enjoy doing. Social media is social and if you're hating it and faking being social and happy and fun, it shows. 

Therefore, instead of discussing reader trends or writing trends or TikTok dances, I'm going to share these beautiful new covers for my complete, six-book Sorcerous Moons series!!! The spine design with all six together is so gorgeous even Taylor is gasping in admiration! The print editions can be ordered via my website store or the usual retailers. 

On my mind: reading older books

 

My To Be Read pile is on my mind. It’s gotten so big that I get choice paralysis when I’m trying to pick a book to read next. I decided to try to prioritize working in books that were published a multiple of ten years ago.

Why? As a reader, it’s easy to get caught up in the constant new release cycle. Physical bookstores have limited capacity, and they want to move books as fast as possible. The best way for them to do this is to stock new books as they come out (which I’m less likely to have bought already) and bestsellers. I often have difficulty finding a book that’s new-to-me on the shelves that’s more than a few years old at a bookstore that only sells new books. Additionally, marketing algorithms prioritize new books (again, because I’m less likely to have read them) when I’m browsing the web.

So I’m making an effort to find and read older books that I didn’t know about. I’m not much for nostalgia, but I am interested in what novels looked like ten, twenty, thirty years ago. I want to know what’s changed in writing conventions and what I can learn from that.

So far this year, I’ve read The Charmed Sphere (2004) by Catherine Asaro, and Undercity (2014), also by Asaro. They are very different books: different genre, different point-of-view, different issues tackled, and I’m glad I read both of them. Next up is Joan Vinge's World's End, published in 1984.

If anyone wants to join me in this activity but doesn't know where to start, ten-year-old books by authors on this blog include The Tears of the Rose by Jeffe Kennedy and Nightmare Ink by Marcella Burnard.