The 10 awful truths about book publishing, from Steven Piersanti, President, Berrett-Koehler Publishers. (Read the whole article here)
Mr Piersanti writes:
1. The number of new books being published in the U.S. has exploded.
2. Book industry sales are declining, despite the explosion of new books.
3. Average book sales are shockingly small, and falling fast.
4. A book has less than a 1% chance of being stocked in an average bookstore.
5. It is getting harder and harder every year to sell books.
6. Most books today are selling only to the authors’ and publishers’ communities.
7. Most book marketing today is done by authors, not by publishers.
8. No other industry has so many new product introductions.
9. The digital revolution is expanding the number of products and sales channels but not increasing book sales.
10. The book publishing world is in a never-ending state of turmoil.
STRATEGIES FOR RESPONDING TO “THE 10 AWFUL TRUTHS”
1. The game is now pass-along sales.
2. Events/ immersion experiences replace traditional publicity in moving the needle.
3. Leverage the authors’ and publishers’ communities.
4. In a crowded market, brands stand out.
5. Master new sales and marketing channels.
6. Build books around a big new idea.
7. Front-load the main ideas in books.