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Readercoin: Growing Your Audience with the Power of Audio


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Learn how Veronica and the Volcano used the power of audio to reach thousands of new readers for free.

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Readercoin: Growing Your Audience with the Power of Audio

  1. 1. Case Study: A Modern Twist on Giveaways Learn how Veronica and the Volcano used the power of audio to reach thousands of new readers for free. By David Cook, Founder Readercoin
  2. 2. "A CHOICE PICK FOR PERSONAL AND PUBLIC LIBRARY CHILDREN'S COLLECTIONS." - MIDWEST BOOK REVIEW Veronica and the Volcano For Girls in Grades 3-5, 320 pages, 50+ illustrations The Author: - Debut novel based on story he’d tell daughters on ride to school - Self-published: Createspace for black and white and Ingramspark for color - Apple iBooks
  3. 3. Author Spent $5,000 on Goodreads • Gave away physical copies and Kindle copies • 10% of giveaway copied led to Amazon reviews • 2% of Kindle copies led to Amazon reviews • If it worked, Amazon would share the progression with you. • They KNOW it doesn’t work.
  4. 4. Assume: A 320 page book that takes 5 hours to read Reading Time: 100 Books * 10% Completion Rate * 5 Hours Reading Time = 50 hours Cost of Books: ($5 Physical Copy + $5 Shipping/Handling) * 100 Books + $120 = $1,120 Cost Per Hour: $1,120 / 50 hours = $22 per Hour $22 per reading hour $110 per completed book Physical Goodreads Giveaways: An Exercise in Throwing Your $$$ Away
  5. 5. Assume: A 320 page e-book that takes 5 hours to read Reading Time: 100 Books * 2% Completion Rate * 5 Hours Reading Time = 10 hours Cost of Books: Standard: $1.20 * 100 e-Books = $120 Premium: $6.00 * 100 e-Books = $600 Cost Per Hour: $120 / 10 hours = $1.20 per Hour $600 / 10 hours = $6 per hour $1.20 - $6 per reading hour $5 - $30 per completed book Kindle Goodreads Giveaways: A Virtual Exercise in Throwing Your $$$ Away
  6. 6. Geoff used Readercoin to generate and track significant daily reading and listening time Readercoin makes it easy to keep track of daily reading … Enter Readercoin
  7. 7. Keep Track of Total Reading Too
  8. 8. Readercoin drove Geoff 3,500 hours of total reading/listening time in a couple of months … The same program on Goodreads would cost $3,840 to $70,400
  9. 9. So ...How much did did it cost on Readercoin? $0 In fact, Readercoin PAID Geoff $50
  10. 10. How Do You Earn Readercoin? • Authors earn 6 Readercoin per 1 hour anyone spends reading or listening to their work • Readercoin can be exchanged for cash through Paypal, prizes, or donated to one of the many charities we support
  11. 11. What’s More … Do You Notice Anything About Listening Time vs. Reading Time?
  12. 12. Consumers DEMAND Audio • Audiobooks are up about 20% year over year across publishing in 2017, according to the Association of American Publishers' data reports from 1,200 publishers. • In the same time period, print books rose just 1.5%, and e-books dropped by 5.4%.
  13. 13. And Audiobooks will only get more popular! – Eighteen percent of Americans own smart speakers in 2018, up from 7% in 2017 (2018 Edison Research) – Guess what another Alexa-fueled holiday season will do?
  14. 14. But making an Audiobook has traditionally been difficult and expensive • An average novel is about 10 hours of narration (roughly 90,000 words) and is likely to cost $200 or more per finished hour, or $2,000 • Strict audiobook requirements mean you can’t upload your DIY version to Audible • PLUS … no one on Audible will ever find your book
  15. 15. Readercoin Makes Audiobook Creation FREE
  16. 16. But Don’t Listeners Demand Perfection in Audiobook Quality? • NO. • Readers prefer, and are more forgiving of, audio made by the book’s own author! • Quality requirements through ACX all but force the author to use professional services • No control over pricing and high production cost means authors lose money on audiobooks
  17. 17. Readercoin Solves Discovery: With Readercoin’s Bonus Books, you will never have more readers as quickly for free!
  18. 18. And We Grow Your Community • Push notifications • Likes • Comments • Leaderboards
  19. 19. What We DID For Veronica and the Volcano We Can DO for YOU! • We paid Geoff to discover 1,000+ new readers • We quantified 3,500+ hours of reading time and growing • We made it easy and FREE for Geoff to create an audiobook • We enabled Geoff to engage his community of readers
  20. 20. So give it a try! Download the app today. Readercoin is better than free promotion. It’s promotion that PAYS!