Increase Your Success: Think Like a Publisher

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Published on March 14, 2014

Author: WaveCloud

Source: slideshare.net

Description

WaveCloud's Wednesday Webinar Series. This webinar is intended to introduce self-publishing authors to the industry standards and requirements for well received published books.

Self-Publishing Wednesday Webinar: Increase Your Success by Thinking Like A Publisher Bill Van Orsdel (303) 974-7845 Bill.VanOrsdel@WaveCloud.com

Checklist: ü You are planning to self-publish your book ü Fiction and Nonfiction have DIFFERENT approaches ü You are approaching this as a business ü Not a discussion of “business” ü You are ready for the zone of discomfort Before we get started…

—  WaveCloud is an Author Services platform and an ebookstore —  Helping writers become successful authors is our #1 priority —  Not a “How To Do”, but a “What To Do” —  Watch this webinar: Increase Your Success by Thinking Like a Publisher A word from our sponsor Bill Van Orsdel WaveCloud  CMO  

Key Points A.  Critically self-evaluate your book’s prospects for success —  Unique book? —  Compelling book? —  Addressable Audience? B.  Make a plan for your publishing business —  Profit Projection —  Business Plan —  Investment Budget —  Production Schedule —  Marketing Plan —  Launch Timeline C.  Produce at the highest quality level your budget allows —  Prioritize spending: Editing, Packaging, Promoting D.  Monitor, Adjust, Monitor, Adjust, ….. —  Publishing is a Process —  Bringing a book to market is a Project CreateSpace is a trademark of On-Demand Publishing LLC.

1,500 books are traditionally published every single day by profit-seeking, professional organizations Why does this matter? •  Goal: Be competitive & profitable •  Profitability = more budget for more books = more profit = more books = more profit = more books …..

—  How is this book unique? —  Your Memoire!, Space Raccoons!, Vampire Academy!, High Wire Yoga!, etc. —  What is compelling/unique about this book? —  Will it generate Positive Word of Mouth? —  Who is the audience for this book? —  How will the Author reach the audience? Acquiring the Editor Hat…

Defining the Target Readers —  Who are the target readers? —  NOT EVERYONE!!!!!! —  i.e Left-Handed, High School Tennis Players! —  How many target readers out there? —  How many readers are “addressable”? —  How many readers is the Author already connected to? —  How will the Author connect with the rest?

Profit, by the numbers Sales: Estimated Unit Sales Net Revenue (per book): Book price * royalty or processing cost Projected Revenue: Sales (units) * Net Revenue (per book) Projected Costs: Advance + Editing + Production + Marketing + Overhead Total Profit: Projected Revenue – Projected Costs

Amazon™ book sales rank affects potential # of book sales •  Your book sales rank: between 5,000 – 10,000 •  Because of this, you achieve about 6,000 total book sales in the first year Profit, by the numbers Example – Setting the Stage •  Book price & royalties •  eBook - $3.99, 70% royalties •  Print book - $6.99, $3.40 processing fee •  Sales: •  75% of your total sales are ebooks •  25% of your total sales are print book •  Projected costs: •  Advance: $0 •  Editing: $2,500 •  Production: $1,000 •  Marketing: $1,500 •  Overhead: $500

Profit, by the numbers Example Ebook Print book Total Sales (Estimated Unit Sales) 4, 500 = 75% * 6,000 1,500 = 25% * 6,000 17 books/day 6,000 total books in the first year Net Revenue (per book) $2.79 = $3.99 * 70% eBook price * royalty $3.19 = $6.99 - $3.80 Print book price * processing fee Projected Revenue $12,555.00 = 4,500 * $2.79 Units sold * Net revenue per book $4,785.00 = 1,500 * $3.19 Units sold * Net revenue per book $17,340.00 Projected Costs $0 + $2,500 + $1,000 + $1,500 + $500 Advance + Editing + Production + Marketing + Overhead $5,500.00 Total Profit $17,340 - $5,500 Projected Revenue – Projected Costs $12,440.00

A Business Plan, really? •  Vision Statement •  Organization Form and Ownership Structure •  Forecast for Producing Books (#/year) •  Annual Budget to Bring Book(s) to Market •  Book(s) Sales Forecast(s) •  Competitive & Target Market Research •  Production Timeline(s) for Book Production(s) •  Marketing Plans & Marketing Budget

Forecasting Books, Revenues & Costs •  How many books to market per year? •  How much are you going to invest per book? •  Editing, Production, & Marketing •  How many of each book will you sell during its first twelve months in the market? •  How much (net royalty) do you expect to make per book sold?

Competitive & Target Market Research •  Amazon™ “Browse Paths”, Book vs. Kindle •  Genre “norms” •  Cover Design •  Length •  Trim Size •  Common promotion methods •  Target Audience addressability

Sample Book Production Timeline Write: 4 months Self-edit: 1 month Professional edit: 1 month Production: 1 month Pre-launch marketing prep: 2 weeks Post launch marketing: 2 months+ Fiction vs. Nonfiction will vary

Marketing Plans & Budget (Sample) Anchor Site creation/update $1,500 Paid “Professional Review” $500 Paid ARCs sent (print + postage) $100 Goodreads Ads and/or Giveaway $250 Bookbub (or similar) campaign $650 LinkedIn/Facebook promoted posts $300 PPC Campaign Google/Facebook $500

Monitor & Adjust þ Is your writing output meeting your forecast? þ Are your sales meeting your forecast? þ Are there production things you can execute? þ ALL marketing should have a digital component for traceability, otherwise skip! þ Are you capturing DAILY sales from Amazon™ and other distributors (to track against marketing)? þ What “free” marketing have you missed? þ How effective are your price promotions?

Final Recommendations: A.  Critically self-evaluate your book’s prospects for success —  Unique book? —  Compelling book? —  Addressable Audience? B.  Make a plan for your publishing business —  Profit Projection —  Business Plan —  Investment Budget —  Production Schedule —  Marketing Plan —  Launch Timeline C.  Produce at the highest quality level your budget allows —  Prioritize spending: Editing, Packaging, Promoting D.  Monitor, Adjust, Monitor, Adjust, ….. —  Publishing is a Process —  Bringing a book to market is a Project

—  Enjoyed  this  webinar?  WaveCloud  has  more  online!  Addi<onal   webinars  can  be  viewed  here:  WaveCloud  Webinars   —  Ask  ques<ons  regarding  self-­‐publishing,  request  a  topic  you  would   like  to  learn  more  about,  or  tell  us  what  you  think  at   authorinfo@wavecloud.com.     WaveCloud Self-Publishing Wednesday Webinar Series:

Questions? Bill Van Orsdel (303) 974-7845 Bill.VanOrsdel@WaveCloud.com

Other Resources —  Dean Wesley Smith’s Blog “Think Like a Publisher” —  www.DeanWesleySmith.com —  Jane Friedman’s Blog “How to Write a Book Proposal” —  http://janefriedman.com/2012/11/09/start-here-how-to-write-a-book-proposal/ —  “How to Write a Book Proposal” —  http://www.hiwrite.com/pro.html —  Internet Search on “Sample Book Proposal”

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