Amazon Ads Spend - How Much?Aug 11, 2022
I made some great progress on Jumpstart Amazon Ads yesterday, so at this rate, I think I'll be able to launch this brand new course sooner than the original planned release date of September 1st. It could even be as soon as next week - I'll keep you posted.
The decision of how much to spend on Amazon Ads, isn't just about what you can afford, although that certainly has to factor in to your decision. Your desired spend should really be based on your overarching goals and how much you can justify spending for every sale. Some example goals could be:
- Brand Exposure
- Brand Growth
- Sales Volume
- Leads/Prospects (generally non-fiction authors)
If you want your author career to become a thriving business, you need to look at the numbers. Regularly.
Want to make a profit from your books? You should be paying attention to how much of your total Royalties you are spending on Ads. Are you earning more than you're spending?
Want to increase brand exposure? You should be focusing on how many people you are reaching each month with your Ads (known as impressions).
Want to increase leads/prospects? You should know how much a customer or client is worth to you and work backwards from there to determine what you can spend for each sale of your book.
Without truly understanding your goals, you won’t know the KPI’s (Key Performance Indicators) you need to track. And if you don’t know what KPI’s to track, how will you ever know if your Amazon Ads are working for you?
Short answer… you won’t.
Without tracking the data that is most meaningful to you, you run the risk of aimlessly drifting around, not knowing which direction to head in.
Track the data though, and you will avoid this situation because you will pick up on patterns and trends in your numbers and can adjust accordingly.
Amazon Ads is all about collecting the right data that aligns with your goals and therefore, the KPI's associated with those goals.
Without significant Ad Spend, you won't be able to collect the data you need to make decisions and start gaining traction.
So, yes, you need to speculate to accumulate, because without the data, you won't know what to do or where to turn.
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