Cost Per Subscriber Lead Using Instafreebie Free Book Giveaways
UPDATE: My math and my underlying raw data were both wrong. So I stand corrected with this update.
I’m just passing 4,000 subscribers after 5 months of using Instafreebie on their lowest paid plan ($20 per month.)
I thought it was about 40 cents per subscriber, but it was really about four cents per subscriber.
Originally, I wondered – is that too high? Because I’d forgotten what Mark Dawson said in his podcast when he crunched these numbers.
So I went out to the Internet and found what the various industries are spending for lead acquisition:
So, I guess I’m doing pretty good, even as much as I’m concerned that these leads aren’t paying for the cost it takes to get them.
Now, I did finally find an interview where Dawson reveals what he’s paying to get those subscribers via Facebook ads to Amazon – from 15 cents to 25 cents. (https://mixergy.com/interviews/self-publishing-formula-with-mark-dawson/)
No happy dance, though. Because I’ve still got some work to do. Especially in converting those free downloads into paid sales. For all the work and expanding money I’m having to spend on my email service, I can’t show that the free book giveaways have paid for itself. But I’ve got some more ideas percolating on how to automate these…
You gotta love content marketing (and book publishing) for having some great leverage, regardless.
PS. You should really check out that podcast for what he got as income from his course – in just one year.