First, let me start off by saying I am not throwing myself a pity party. I'm not. But this post might sound pitiful nonetheless.
I put my novella, The Lady in Blue, on a Kindle Countdown Deal (KCD) for this week. I dropped the price from $2.99 to $0.99. I needed a bump in sales. The last sale I had before July 20th was TEN DAYS PRIOR. Anyway, I decided I wasn't going to pay for promotions as 99-cent runs don't usually get a decent return on investment. I was going to book as many free promotions as I could. Since the book went on sale on Monday, I've had 13 sales with only two or three promotion sites running the book. I wasn't able to secure promo spots on too many places. No sales today, yet. Clearly, I'm not ecstatic over this, but it's to be expected.
From what I've read from various indie author communities, you're better off paying to promote a free book. And visibility from promotions on free books boosts sales on your other titles. It's really a numbers game. If 1,000 people download your book, maybe 300 people actually read it. Of those 300, maybe 10 review it, but perhaps 150 buy your next book in the series. This is all arbitrary as I have no data to back this up. Unfortunately, I only have one more title out, but a free run on The Lady in Blue should drive readers to my other book, Grunge Gods and Graveyards -- in theory anyway.
So, I'm going to start creating a budget for my next free promotion and plan accordingly -- in advance. I'll let you know how it goes.
What is your experience with paid promotions? Best for free books or 99-cent books?