Learn how to do AMAZON ADS right
Boy did I get a REALITY check,I thought I already was doing them right until Brian Meeks gave me some hardcore lessons.
Listen in as we take a deep dive with the Master of Amazon Ads - Brian Meeks:
Reality Check #1: ACoS Sucks!He wishes that Amazon wouldn't even include it in the Ads Dashboard...
Why?
Instead of focusing on ACoS, which is simply the sales divided by spend, we should look at the entire picture.
That is, how much End to End profit does our ad really make?
You have to measure EVERYTHING, from KENP pages read, to KU downloads and "Read Through".
Only when you have the whole picture can calculate if your ad was really profitable.
Because it's all about CLV: "Customer Lifetime Value."I love his approach and how he reverse engineers things.
Because once you have the whole picture of your book sales, you can then figure out EXACTLY how much you can pay per click for an ad.
CLV is nothing new actually, but us book authors, well, you know we are a special case ;-)
The point is to calculate your CLV so you can then know how much you can pay per click to get that initial sale.
A simple example:
- You have a non-fiction book for 5.99
- You offer a video course on your website for 49.99
If 1 out of every 20 readers buys the course: 49.99/20=2.50 (rounded up)
This means you have 50 bucks to make 20 sales and break even.
This means you have 50 bucks to make 20 sales and break even.
Let's call that $2.50 Earnings per reader.
You know it takes 20 readers to make ONE 49.99 sale.
And you can pay up to 2.50 per reader to make that sale.
However...not everyone who clicks on your ad buys the book.
So you have to know exactly how well your book's description on the Amazon sales page converts too:
You have to figure out the conversion rate of your ad. The "1 in X"!
If your ad is converting at 1 in 20 then: 2.50/20=0.125, which means you can spend .12 big cents on your cpc bid, just to break even.
However, what if your ad is converting at 1 in 10?
Then you can spen .24 cents on your cpc bid!
However, what if your ad is converting at 1 in 10?
Then you can spen .24 cents on your cpc bid!
Reality Check #2 We are bidding TOO HIGH!
QUIZ!
If you run an ad, and it’s crushing it for TWO months (e.g. it gets 30-40k impressions per day for two months) – what does that tell you? What’s happened with that ad?
Well you're just going to have to listen to the podcast! (C'mon - you didn't think I would give it away that easy did ya?)(note however my answer to this question in the podcast = FAIL!)
Rule of thumb: NEVER change the bids on your ads -- it screws up your statistics.
Reality Check #3Your book's description i.e. AD COPY makes ALL of the difference in the world!That's another thing I like about Brian's book:
You not only get the DEFINITIVE guide on Amazon ads, but also an excellent tutorial on COPYWRITING!
2 books in 1!Remember to buy and READ Brian's book FIRST, and then join his Facebook Group -- it's awesome!
Get Brian's Course Mastering Amazon Ads Here
Topics in this podcast+Show Notes:
· Genre Hopping
· Blogging
· Copywriting – DESCRIPTIONS!
o HOOK
o NOT more than 6 words!!!
o 1st line should look like ONE word
· Conversion
· CPC bidding!
· In KU or not?
o In KU One in 10
o NOT in KU One in 20
· ACoS
· Improving the bottom line!
· Statistical Variance
o (Law of Large Numbers!)
· Ad converts at 1:5 BUT DESCRIPTION converts at 1:30 !
o What is conversion rate for your BOOK/description?
· BACKMATTER
§ We’re all doing it WRONG!
· Brian’s course
· 20 books to 50k
o Michael Anderle
· Ad Week – Joseph SUGARMAN
· Don’t copy other authors!
o Are you leaving $ on the table?
· A-B testing
o Can’t be done with Amazon ads
· How to SCALE Amazon Ads
· Audience Exhaustion
o Rarely happens – even in UKELELE instruction
o You’re only going to get 5 – 7 good days out of an ad, you’re gonna be killing ads all the time anyway (!)
· QUIZ!!!
o If you run an ad, and it’s crushing it for TWO months (e.g. it gets 30-40k impressions per day for two months) – what does that tell you? What’s happened with that ad?
· CLV
o Calculate your CLV!
§ Kenp
§ KU downloads
§ Read Through
§ ALL other tertiary sales/numbers
· Go deep
o If you have multiple series; pick ONE and focus on it!
· Mastermind groups
· Favorite book: Candide – Voltaire
· Fav author: Elmore Leonard
o Get Shorty
o Jacky Brown
o Valdez is Coming – Western – First book – mindblowing ending!
· #1 tip for beginning authors
o Build that list!
· #1 tip for intermediate/advanced authors
o Buckle down and learn analytics
· Las Vegas
· Public speaking
· DO THE MATH!
· 7 day moving average vs 21 day moving average
· Running ads to the first book in a series
· Back Matter
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