I have been experimenting with advertising on Goodreads for a few weeks. It is a simple system that allows targeting advertising for a reasonable cost. In an attempt to figure out in maximizing exposure, I periodically adjust different settings. Every time I think I cracked the system, I see huge fluctuations in the number of ad placements on any given day. Part of that, I think, is having to go in and make adjustments whenever funds are spent. However, there are three fundamentals that a Goodreads campaign must have:
1. Eye-catching cover with interesting text.
2. Targeting main audiences interested in your genre.
3. Keeping your “Daily Cap” and “Click Through Rates” as high as you can to help maximize views.
I have an ad campaign on Amazon as well (more on that later) and soon to launch one on Facebook. How effective is Goodreads advertising? In spite of a large audience, and one that is made up of dedicated readers and authors, I don’t think it is the primary social media platform for most people. In other words, people go to their Facebook first, or the posts sent to their e-mails. Yet Goodreads is still an important platform for authors and readers networking with each other. It’s also serves as a portal to an author’s primary website. It shouldn’t be an author’s main tool, but one of many in his or her toolbox.
For more on Goodreads advertising, see Lindsay Buroker’s article here.