Survey entitled, “The Business Impact of Writing a Book,” by Wellesley Hills Group gathered information from 200 authors about the impact of book marketing. All authors had written books for the purpose of building their small business, but the lessons apply to all authors.
Key Points:
- 51% of authors invested personal funds in marketing their book
- The amount authors personally invested in their books ranged from under $1000 to $150,000 with a median investment amount of $4500
- Authors who hired “outside help sold 10,000 copes of their first book and earned royalties of $55,000, compared to 4,500 copies sold and royalties of $25,000 for authors who depended solely on the efforts of their publishers” (Publishers Weekly)
- Most effective marketing tactic: Using the Internet
- Second most effective marketing tactic: generating press in trade publications related to the topic of the book (for non-fiction)
- Book signings were considered not very effective
- Authors who hired reputable firms to promote their book earned hire royalties
- Authors said there were many indirect benefits to marketing their books rather than straight sales
(Source:
Business by the Book, Business Week, 4/12/06, Karen E. Klein -and-
Documenting the Value of Marketing, Publishers Weekly, 4/24/06, Jim Milliot)
