Weighing whether to run a Goodreads giveaway as part of my next launch. Used to be a standard indie tactic, the free print copies-in-exchange-for-visibility model. Amazon changed the program in 2018 and it hasn't been the same since. Trying to figure out if the current version is worth the investment.
The current Goodreads giveaway model.
You pay a listing fee (currently $119 for standard, $599 for premium) plus the cost of the print books you're giving away plus shipping. Standard listings allow 10 US winners, premium listings allow more and get better visibility on Goodreads.
Goodreads picks winners randomly from users who enter to win. You have no control over who gets the copies. Winners are asked but not required to leave reviews.
The visibility during the giveaway period is real, Goodreads promotes active giveaways on their site and to users through email. Genre-specific promotion is included.
What I'm hearing from peers.
Some indie authors swear by giveaways as part of every launch. The visibility is worth the cost even if the review conversion is only 20-30%.
Some have stopped doing giveaways because the entry-to-review ratio is too low. You give away 10 books, maybe 3 get reviewed, and the total cost is $300+ including shipping and books.
Some do premium listings only for major launches where the visibility investment is justified. Standard listings feel underpowered relative to what you used to get.
The questions I'm trying to answer.
Is the visibility on Goodreads worth $119+ even if review conversion is bad? Does being in the active giveaway list drive Goodreads adds and wishlists that turn into future sales?
Are premium listings actually 5x better than standard listings or is it mostly Goodreads capturing more revenue from serious indies?
For authors who've stopped doing giveaways, what did you shift to instead for equivalent visibility?