How many books will you sell? There is a simple formula for this:
SALES = (# of views) X (% of buys)
For example, if 1000 people view your book every day, but only 0.5% of those people purchase your book, you would sell 5 copies per day.
The two ways to maximize sales are to
- Maximize the frequency with which people view your book—i.e. increase your book’s exposure.
- Improve the percentage of people who purchase your book after viewing it—i.e. improve the buying ratio.
If your buying ratio is lousy, any time you spend improving your book’s discoverability is wasted because the buying ratio is inefficient. It would be 20 times more effective to raise your buying ratio from 0.001% to 0.1% (that’s 100x better) than it would be to increase your daily views from 1000 to 5000 (that’s 5x better). (The 20…
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