Goodreads is introducing Goodreads Deals to the US market, a digital marketing tool that will alert site members when an e-book on their 'want to read' list is available at a discount.
The alerts, which will also kick in for followed authors, will help to amplify e-book price promotions for US publishers to those readers most likely to be interested.
The deals feature is described by Goodreads as "unique" for helping to attract both existing fans and prospective buyers. It will appeal to readers who have specifically selected books as 'want to read' but will also be marketed to those who have selected an option to receive daily emails about prefered genres, thereby acting as a discovery tool.
Goodreads c.e.o. Otis Chandler said: "This program is also a powerful new marketing tool for authors and publishers; being able to reach the size of audience we have with personalised price promotions is a great new opportunity for them."
A spokesperson told Publishers Marketplace that publishers could nominate deals to be promoted for a fee, which Goodreads would then curate as part of its promotion. Prices for participating publishers have currently not been set.
Heather Fain, s.v.p., director of marketing strategy at Hachette Book Group, said: "As publishers, we always want to find readers in the most targeted and direct ways possible. We want to reach readers where they live, and millions of them live and breathe on Goodreads. Backed by their data, we can match a deal with a reader we know is already interested in our book, something we think will be highly efficient. Consumers have come to expect personalisation, and Goodreads Deals is a terrific way to achieve that level of intimacy. Goodreads has long been an integral part of the marketing plans at Hachette Book Group, and I'm excited to see how this new product enhances that relationship.”
According to Goodreads, every second six books are added to Goodreads members' 'want to read' lists.