Hi,
I'm wondering about stepping into the small ads arena. Has anybody got any recommendations on how to go about this? It's for a commercial fiction novel. I've heard good things about Good Reads ads but is it very costly?
Thanks.
Stephanie
I'll totally take this one

Fast heads up before I go off... I've been called "heavy handed" when it
comes to dispensing marketing/advertising advice so be aware!
But IF your goal is to run effective ads AND not lose your
shirt on the costs what I'm telling you is actually advice you
want to follow.
Before you drop even your first red cent on any form of advertising
at all you really need to decide a few things
#1: Who is your ideal audience (and no, it's NOT "everyone")
- Sex
- Age range
- Geographic location (Try trends.google.com)
- Reading preference
- What books do they buy now?
#2: Where do these people spend the majority of their time online?
- What blogs are they reading?
- What sites to they like?
- What keywords are they typing in
Obviously the initial answer is FaceBook as FB has turned almost every person
in the computerized world into a cyberstalker.
I'm guessing by the question you asked you haven't yet tried advertising.
DO NOT USE GOOGLE TO START!!!!!
Please.
If you're new I don't care how many $100 free vouchers you get
because that money + extra will vanish before your eyes in no time.
You really should become good at 1 area before you branch out.
In my opinion and experience the fastest place to learn how to
advertise as well as the most cost effective is FaceBook.
Here's how to do it:
#1: Find the other pages your audience hangs out on.
- Author pages
- Book pages
- Movies with the same topic
- Celebrities
Make a list
#2: Create a "FanPage" for your book and another for you name
- Look for the "Advertising" link at the bottom of the screen
#3: Once you have a page up post some content
- 3-5 posts + a few cool photos
#4: After you post stuff create "micro" ads
- Run these ads to your fan page and ONLY target fans
of other pages in your niche (see the list you made above)
- Create a different ad for each age range
Example: Females ages 21-34 who like XXXXX page
- DO NOT target more than 6-10K people per ad
- Run your ads on a CPM basis (Cost per thousand)
- Bid only $.05 higher than the minimum suggested bid
- Set an "end date" on your ad to be no more than 5 days
#5: Once approved let your ads run until you get 3000 impressions each
- If your CTR (click through rate) is under .05% KILL THE AD!****
#6: Keep making more and more ad groups
- Test different pictures
- Test different ad copy
- Test different demographics
- Kill what's not working and keep what is
End Game: Doing it this way you'll find out for (in most cases) under
$2 which ads are going to work and which won't. In almost any other
advertising arena you'll have to blow through THOUSANDS of dollars
before you have that sort of data
Then... once you've found your markets "sweet spot" you take
that info and roll it out into the next advertising location.
Test/tweak/optimize until you are crushing it.
Keep doing this for 1 location at a time until you have more
buyers than you know what to do with

Hope that helps!
Jonny
**** Fast edit: you want to kill the ad if you're spending more per
fan or per click than about $.10. Personally I'd suggest setting your
floor at around $.07 per fan but it's totally your call.
So based on that the actual CTR has to be open to your end goal