As we enter Day Four of The Successful Mistake Crowd-Publishing Campaign, I’d like to send a big thanks your direction, for all the epic support. I also wish to share the numbers so far, and a transparent insight into what has and hasn’t worked.
We’re still in the early days (with over a month to go), but I’ve already learned a great deal.
Before we get into the nitty-gritty, I hope to tempt you into a quick two step process, because this whole campaign revolves around a crowd and community of super-cool folk. So, if you consider yourself super cool, please consider the following:
THE NUMBERS SO FAR:
They say slow and steady wins the race, and this is what I’m banking on because we’ve started in a somewhat cautious manner. I didn’t set a specific target as such, but I hoped to be further along than $264 (at time of writing) and 9 backers after the first few days.
At this rate we’ll fail, there’s no doubt about it. BUT… there’s a long way to go, and I have both the faith and confidence we’ll get this done.
At the time of writing, here are some of the stats and figures that stand out:
- 904 Page Views in the first four days
- 219 Click on the Bit.ly link
- 54% of click have come from the UK
- 29% via the USA
- 9 Backers (1% conversion rate based on page views)
- Facebook has provided the vast majority of traffic
- Twitter, not so much
- 25 FB Likes
- 25 Tweets
- 37 People have watched the main video
- 24 Visits to the Successful Mistake Share Page
- A total of $264 raised so far
Like I say, not the most ideal start, but I suppose the most worrying number is the conversion rate. To garner nearly 1,000 page views in the first few days is pretty darn spiffy, but for only 9 people (I also happen to know all these folk, so no strangers so far) to take the plunge worries me. What’s this down to?
The page copy… ?
The video… ?
The Rewards… too expensive… not enticing enough… ?
Overall, when I’ve mentioned this book to people they’ve jumped for joy by the prospect of it, so I don’t believe it’s down to a poor idea or product. Of course, people could be biding their time because we have 40+ days to go. I mean, what’s the rush, right? Just because I want them to commit now doesn’t mean they’re on the same timetable as myself.
But I thought a 10% conversion rate could be had, so a mere 1% does worry me. I’d love to know your thoughts on this. I’ve created a Typeform survey to better understand what does and doesn’t work, so please consider filling it out.
Above all, EMAIL ME and share your thoughts. We’re somewhat limited as to what we can and can’t change on the sales page, but we can improve things and tinker. I’m too close to this and biased, so I need your help to see the light. Shower me with your wisdom, kid 🙂
WHAT PEOPLE LIKE YOU ARE SAYING:
Despite the doom and gloom, I’m so thankful and in awe at the support and kind words from those I know. Here are a selection of some of the tweets and messages, etc…
— Paul Collins (@pcollins85) February 4, 2015
— Scott Oldford (@scottoldford) February 3, 2015
— Jeremiah Gardner (@JeremiahGardner) February 2, 2015
— Nigel Sullivan (@nigel_bayer) February 2, 2015
— Dorie Clark (@dorieclark) February 2, 2015
It’s been an emotional and interesting few days, but I appreciate every single tweet, email, and message on Facebook. This offers a mere peek into the kind words and support I’ve seen, so although it hasn’t translated into backers YET, it gives me huge faith and hope.
Thank you for being awesome and showering me with wonderful words. It gets me through the day.
AROUND THE PRESS:
So far I haven’t had any press, but that’s deliberate. I want to build momentum among those I know first, and I hope to continue this over the next few days. Next week, the press trail begins and we’ve some wonderful guest posts and podcast interviews lined up.
Here’s a selection of places I’ll appear in between now and mid-March
- Smart Business Revolution with John Corcoran
- Dorie Clark’s Blog
- The Suitcase Entrepreneur
- The Art of Charm with Jordan Harbinger
- Limitless Business Podcast with Scott Oldford
- Parent Entrepreneur Podcast
- Social Strategy Podcast with Vernon Ross
- College Info Geek with Thomas Frank
There’s more to come too, but here’s a quick overview of things. I also hope to take things to the next level over the week, pitching the likes of:
- 48 Days with Dan Miller
- The Huff Post
- Personal Branding Blog with Dan Schawbel
- Startup Collective
- Business Insider
If you have any contacts within any of these fine establishments, please let me know. I’d love an introduction before I start cold-emailing folk next week. A big fat thanks in advance 🙂
What this all means is, the above stats should change a great deal over the coming weeks. We’ll see more traffic coming from external sources, and the overall page views SHOULD rise dramatically. But it brings us back to the 1% conversion worry, because if that’s how I’m converting friends and those I know, how will strangers react?
Hmmmm, time will tell…
A FEW INTERESTING FACTS & FIGURES:
To finish up, let’s focus on a few roundabout figures that will take us from where we are to where we need to be. Like I say, at current pace we’ll fail. Simple. No question. But it doesn’t require a huge increase on a day-by-day basis to reach the famed promise-land. Let me explain…
At time of writing we have 41 Days to Raise $7,236, which equates to:
- $176 per day
- That’s 15 Digital Bundles ($12 each)
- Or 7 Signed Paperbacks ($27 each)
- Or 4 Limited Edition Hardcovers ($46 each)
But let’s break things down even further, assuming there are 4 types of backers who join this journey: Bronze (Digital Bundle), Silver (Signed Books), Gold (No-Brainer & Best Buddy Package), and Corporate (sponsorship & bulk buys, etc…).
Removing the corporate side of things for a second, we can reach our daily goal with:
- 1x No-Brainer Package ($78) (Gold)
- 2x Signed Paperbacks ($27) (Silver)
- 4x Digital Bundles ($12) (Bronze)
In this situation we only require 7 backers per day to tackle our daily goal. Now, I don’t distinguish folk on how much money they can and can’t spend, because as far as I’m concerned someone willing to join this journey is as good as the last, and equal to the next.
But some folk can only afford to dip their toe in the water. Others like to own physical goodies. Some don’t have to worry about money at all. So we only need to entice 7 people each day, which is 1 person every 3-and-a-half hours. And if we have a day when two kind individuals come along and buy a No-Brainer Package each, we only need to sell two digital bundles to hit our goal.
This is where my head is at, because $7,236 is a lot of money and daunting as hell. But $176 each isn’t too bad. And 7 backers is more than doable. We haven’t even looked at corporate folk either, because every time someone sponsors a chapter or bulk buys some books, it drives the average daily goal down.
For instance, if someone sponsored a chapter today, our daily goal would drop from $176 to $167!
In other words, we can do this!!!
WILL YOU JOIN THIS BAND OF MERRY MISFITS?
We may only be on Day Four, but I already buzz with excitement and nerves and a whole host more. I’ve no idea what to expect, but I’m learning each minute of each day, and cannot wait to see what this entire adventure has in store between now and the 17th March (and long after, of course).
Again, thank you for your support so far, but we’re still in the infancy of this entire beast. I hope you’ll help me spread the word and take part in the Two Step Process Below. And if you have any questions for me, about the campaign, regarding the book, or just want to chat, please reach out to me. I’d love to hear from you, and if you have any ideas or advice for me… bring it!
I need all the help and support I can muster, kid.