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Author Topic: Analyzing Bookbub Ad results  (Read 2132 times)  

Offline JRTomlin

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Analyzing Bookbub Ad results
« on: December 02, 2017, 02:20:32 PM »
Any hints on how to go about it and what to look for? I don't generally use click through advertising and just started my first ad with a small budget to experiment to find what (if anything) works for me. However, I'm at a bit of a loss what to look for and what stats qualify as 'good results'.

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Offline Nicholas Erik

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Re: Analyzing Bookbub Ad results
« Reply #1 on: December 02, 2017, 02:23:41 PM »
Generally speaking, you want to see a CTR of 1%+ and CPCs (cost per clicks) of $0.40 or less (BookBub tends to be a little pricier than other ad platforms). I start getting skeptical when CTR drops below 2%, but I'm in a pretty competitive genre (urban fantasy) where clicks tend to be expensive. There are some genres where you can have sub 1% CTRs and still be getting really cheap clicks.

If you post your aggregate stats for the ad, and also the ad (or ads) itself, that'd help make a more exact assessment.

Nick

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Re: Analyzing Bookbub Ad results
« Reply #2 on: December 02, 2017, 02:53:14 PM »
Are you making a profit? Everything else is subsidiary (although often instructive).

Offline dgaughran

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Re: Analyzing Bookbub Ad results
« Reply #3 on: December 02, 2017, 03:49:08 PM »
Lot of variables but as a very general rule of thumb I'm happy with 2.5%+ on an Amazon US 99c book, will look at tweaking targeting or image below that, will probably kill anything at under 2%. And I'd want higher from a freebie (and expect better outside the US and outside Amazon).

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Offline markobeezy

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Re: Analyzing Bookbub Ad results
« Reply #4 on: December 02, 2017, 06:32:19 PM »
Interesting.
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Offline JRTomlin

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Re: Analyzing Bookbub Ad results
« Reply #5 on: December 02, 2017, 10:19:54 PM »
Are you making a profit? Everything else is subsidiary (although often instructive).
That is basically what you are analyzing. With CTR ads that information isn't necessarily right in front of you.

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Offline Nicholas Erik

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Re: Analyzing Bookbub Ad results
« Reply #6 on: December 02, 2017, 10:21:45 PM »
Lot of variables but as a very general rule of thumb I'm happy with 2.5%+ on an Amazon US 99c book, will look at tweaking targeting or image below that, will probably kill anything at under 2%. And I'd want higher from a freebie (and expect better outside the US and outside Amazon).

If you don't mind sharing, what kind of ad creative are you using to get 2.5%+ for Amazon targeting? I've found that to be pretty rare in my experience, so any guidance would be helpful.

Nick

Offline dgaughran

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Re: Analyzing Bookbub Ad results
« Reply #7 on: December 03, 2017, 01:40:28 AM »
The targeting is at least as important, as you know, but this kind of ad was getting 3.9% for me: https://www.canva.com/design/DACoDJ4DRto/view

And this one was getting a solid 2.9%/3%: https://www.canva.com/design/DACn4uena4U/8PrpdlR5a0FVNaKd0TM9iw/view

Let me know if those links don't work, I'm trying to share from Canva. I don't know about all other genres, but I regularly get those results on Amazon US in SF and HF, and my friends do likewise in Thrillers and Romance, so it is doable. Took a good bit of fiddling to get images that worked and tight enough targeting.

I wrote a little about finding your comps on BB and all that in this blog post on Friday in case it helps anyone - https://davidgaughran.wordpress.com/2017/12/01/bookbub-cpm-ads-and-wide-distribution/ - but this is probably the most relevant para:

Quote
Great CTR on BookBub is about two things really: images and targeting. [...] I usually find a tight group of four or five good comp authors works best, although that really depends on how many followers they have. For me at least, targeting very big authors can be risky as they have the broadest, most diverse audience. Although I know others get joy from that.

[...]

 An excellent comp author on Facebook or AMS might not be such a great candidate on BookBub where their audience size will be hugely skewed on whether they (or their publisher) runs many BookBub Deals or not.

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Offline PhoenixS

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Re: Analyzing Bookbub Ad results
« Reply #8 on: December 03, 2017, 08:06:34 AM »
I'll echo David's observation about targeting, and about AMS targets not necessarily being good BB candidates. Here's a 3-day campaign I just recently completed with a $200 spend.

I ONLY ran the ad on Amazon US (for a non-series book on 99 Countdown). Each ad targeted about 5-6 authors in SF/Thrillers. Same ad creative I've used before, with many author targets vetted from previous runs. But I also threw in a group of a half-dozen authors that were trending well on AMS.

Only one ad performed under 3.25% -- and it was markedly lower at 1.9%. Guess which group of authors that was?

Interestingly, this was the third campaign run for this ad, with a $150 budget each the first two times. This run, with a $50 bigger budget, had a CPC of about 22 cents, which was much less than the previous two runs (which were 47 and 30 cents). Just when you think the saturation point may have been reached, it hasn't necessarily been. Nor does it necessarily cost more to get the same or better results. As I get better with targeting, my cost per click is going down.

I'll likely play with the CPC option mid-month on a romance box (romance is hugely competitive). So far I've only run the CPM option on any ad, so no insights yet on what good results for the CPC option are.

And yeah, that 10.75% ad group -- that was actually down from a 14% start. Obviously my sweet spot of comp authors. But no matter how much I threatened or cajoled, I couldn't get that ad to serve more than half its budget that first day.


Offline Catherine Lea

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Re: Analyzing Bookbub Ad results
« Reply #9 on: December 03, 2017, 08:59:59 AM »
Maybe it's just me, but I've found Bookbub ads an incredibly effective way to burn through money with disturbingly meagre results. But as I say, it could be just me.


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Offline dgaughran

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Re: Analyzing Bookbub Ad results
« Reply #10 on: December 03, 2017, 09:03:55 AM »
You're not entirely wrong. If your graphic or targeting is even a little off, CTR collapses - which can be the difference between 20c clicks and $2 clicks. It's fairly unforgiving in that way, and your money disappears FAST unless you restrict the spend (which I recommend doing until testing shows your CTR is good enough).

The learning curve is much quicker than FB though, and the platform has a number of unique advantages - you can switch it on and off like a tap (again, when your targeting/image is good enough to give you reliably good CTRs), meaning you can drop it in anywhere on your promo schedule to fill any gaps if, say, your ads bunched up because that's all that was available. It's also the only way I know of to easily target tiny reader pockets like, say, Kobo UK or Google AU. Also possibly on FB but tricky to get any serving when targeting a narrow niche in a small market.

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Re: Analyzing Bookbub Ad results
« Reply #11 on: December 03, 2017, 09:50:49 AM »
Are you making a profit? Everything else is subsidiary (although often instructive).

This. Click-thru rate is useless, know your click rate and conversion ratio. What is an acceptable Cost Per Click is going to depend on what your goal is. Income? Visibility? BookBub shoppers are bargain shoppers, so I'd advertise a bargain.


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Offline dgaughran

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Re: Analyzing Bookbub Ad results
« Reply #12 on: December 03, 2017, 09:54:31 AM »
This. Click-thru rate is useless.

Conversion is important, obviously, but because such tight comps are needed for good CTR(+conversion) then you run through effective audience quite quickly. Having a higher CTR means you stretch it out a little longer.

Also, CTR is incredibly important for another reason. It's largely a CPM platform, meaning your CTR will decide your effective CPC. The higher your CTR is, the cheaper those clicks will be, which makes converting to a profitable level much, much easier.

I don't know how anyone could use the BB ad platform and say CTR isn't important. It's the key to success there.
« Last Edit: December 03, 2017, 10:03:17 AM by dgaughran »

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Offline JRTomlin

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Re: Analyzing Bookbub Ad results
« Reply #13 on: December 03, 2017, 03:58:19 PM »
I am running ads as experiments on very limited budgets so I'm not worried about burning through money, but my 1st experiment with an author who does well on AMS? Underwhelming.

Phoenix, do you have any suggestions on finding good comp authors? The ones on the Also Bought list don't really have enough BB followers to be good prospects, so if AMS isn't good, what would be a good way to choose? I must admit to being stumped.

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Re: Analyzing Bookbub Ad results
« Reply #14 on: December 04, 2017, 09:31:48 AM »

I don't know how anyone could use the BB ad platform and say CTR isn't important. It's the key to success there.

No, Cost-Per-Click is important, not Click Thru Rate. (Conversion is obviously important too, more later.) Click Thru Rate doesn't tell you what you're paying per click. If you are getting fabulous Click Thru, but the clicks cost you $2 each (as they might if you're targeting a genre or a very popular author) the add still sucks cheese balls.

On conversion ... I find BookBub ads convert about the same as everything else out there. So for free books I'm looking at 40% conversion, and for 99-cent books around 25%.





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Offline Martitalbott

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Re: Analyzing Bookbub Ad results
« Reply #15 on: December 04, 2017, 09:43:01 AM »
Bookbub ads don't work for me at all. It's just a money drain.

Offline dgaughran

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Re: Analyzing Bookbub Ad results
« Reply #16 on: December 04, 2017, 01:42:44 PM »
No, Cost-Per-Click is important, not Click Thru Rate. (Conversion is obviously important too, more later.) Click Thru Rate doesn't tell you what you're paying per click. If you are getting fabulous Click Thru, but the clicks cost you $2 each (as they might if you're targeting a genre or a very popular author) the add still sucks cheese balls.

Unless you are beta-ing the CPC platform, ads are charged by CPM. This means that the higher your CTR, the lower the CPC. The CTR decides the CPC. The higher your CTR, the lower the CPC.

An example: if your effective CPM is $10.00 and your ad serves 10,000 times, this will cost you $100. The CTR is 5%, giving you 500 clicks and, thus, a CPC of 20c. But if your CTR is only 1%, this means you only got 100 clicks and this gave you a CPC as high as $1 per.

Again, the CTR decides the CPC. It's the most important thing on BookBub CPM ads. And that's even before you get into premature audience exhaustion from low CTRs

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Offline Nicholas Erik

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Re: Analyzing Bookbub Ad results
« Reply #17 on: December 04, 2017, 05:13:22 PM »
Thanks for the images/data, David and Phoenix. Back to the marketing lab. More things to test.

Nick

Offline JRTomlin

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Re: Analyzing Bookbub Ad results
« Reply #18 on: December 04, 2017, 05:33:59 PM »
Right at the moment, my big struggle is with targeting. I seem to be stuck with guessing which authors to use.

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Offline Sapphire

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Re: Analyzing Bookbub Ad results
« Reply #19 on: December 05, 2017, 06:49:21 AM »
Acronym translation needed:
I think I'm reading some of these wrong, and I doubt I'm the only one. ???
Please define CPM, CTR, CPC, and any other C's you're all using.
(I'm pretty low on the promotional knowledge curve, but I'm slowly learning.)

« Last Edit: December 05, 2017, 08:33:24 AM by Sapphire »


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Re: Analyzing Bookbub Ad results
« Reply #20 on: December 05, 2017, 08:03:23 AM »






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Online C. Gockel

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Re: Analyzing Bookbub Ad results
« Reply #21 on: December 05, 2017, 08:36:58 AM »





So, correct my math for me, but that is $17.47/173 and so equals 10-cents a click, right? And the Click Thru Rate is 10+%

Here's results for an ad of mine with a Click Thru Rate of 2.37%.



If you do the math $3.68/37 is slightly less than 10-cents per click, even with that tiny 2.37% CTR.

This shows that cost is definitely NOT determined by CTR . It is probably determined by the number of people you are bidding against.


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Offline dgaughran

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Re: Analyzing Bookbub Ad results
« Reply #22 on: December 05, 2017, 08:45:31 AM »
This shows that cost is definitely NOT determined by CTR . It is probably determined by the number of people you are bidding against.

This is quite a weird example because your CPM is bizarrely low, but let's run with it.

CPM is the cost per impressions. That's determined by the number of people you are bidding against. CPMs of $9.50-$11.50 would be more normal on Amazon US. It's outside your control anyway, you either win the auction or you lose.

CTR is within your control. You can improve it with image or targeting. That's why I recommend focusing hard on CTR. It's under your control.

Both decide the CPC ultimately. But CTR is the big variable that can swing wildly AND the one you truly influence.

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Re: Analyzing Bookbub Ad results
« Reply #23 on: December 05, 2017, 09:19:50 AM »
This is quite a weird example because your CPM is bizarrely low, but let's run with it.

 ::)



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Re: Analyzing Bookbub Ad results
« Reply #24 on: December 05, 2017, 09:24:22 AM »
Those aren't, by the way, all the ads I had out there. (Currently they are all paused because I had a BookBub deal for a a title in the same series. I plan to turn them all back on when the deal comes down.)

I target smaller authors whose work is similar to mine per advice I got here on kboards. I also bid extremely low. A lot of high bidders use up all their juice in the morning. I get no impressions or clicks during that time. Afternoon and night I start getting them.



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