All authors want to write books that people will enjoy reading. And although studying market data might not be as exciting as writing the next bestseller, it’s important to know what’s happening in the book and publishing industries. When you understand the book market statistics relating to your genre and target market, you can learn how to use them to your advantage. And that means more book sales!
Book market statistics help authors and publishers determine how many readers will be interested in a new book. And whether you’re a brand-new indie author or a seasoned self-published author, you should be aware of some key book market statistics.
Finding a publishing house can be a difficult process. The book publishing industry is a competitive one, and it’s important to know what publishers look for in new authors. The more you understand about what the publishing industry wants, the better chance you have of your manuscript being accepted.
Here are a few criteria that many publishers look for:
Publishing companies receive a lot of unsolicited manuscripts from hopeful authors. That’s why most publishers clearly outline their submission requirements on their websites. So make sure you follow each instruction for the best chance of your work being reviewed. And if you find that a certain publisher isn’t a good fit, don’t worry! There are plenty of other publishers to contact.
Your book sales may be tied to your genre and story type. Some genres just sell better than others. Stories involving romance, adventure, or crime have been big sellers for decades and have a wide audience. And other genres might take a little more marketing effort to advertise to the public.
Genre and story type also guide what readers you should market to. For instance, if you’ve written an action story for young adults, you might have good luck marketing on social media platforms like Twitter. And if your book is a novel geared toward older adults, you might have better luck with a book launch—or even creating a local book club. Just watch the book market statistics and trends so you know how to develop your marketing strategy.
In addition to how well your genre and story type are selling, there are additional book market statistics that you should be aware of. Here are a few examples:
In addition to general industry statistics, each publishing method has its own data. And understanding those numbers can help you determine how to publish your book!
The book market statistics that you study will depend on whether you publish your work as a physical book, e-book, or audiobook. There is a place for each of these media in the reading and publishing worlds. And in order to determine the best way to self-publish your book, it’s important to keep up with the current trends for all three methods.
With the rise of the e-book and audiobook, it might seem like physical book sales have declined. However, many people still love reading a printed book they picked up at their local bookstore or library. Dedicated readers will always love the look and feel of a new book. And since no battery power is required, you can read a physical book just about anywhere!
There will always be a market for physical books. However, it’s also important to consider the growing popularity of e-books and audiobooks.
E-books have gained popularity in recent years. And why not? E-books are easy! E-book platforms like Amazon Kindle are internationally accessible, and you can even borrow an e-book from your local library. Additionally, many readers prefer to save physical storage space by keeping their reading material on a tablet or an e-reader. Because the world has become more digital in general, e-books have become successful.
This newer type of book is also popular with new authors. It’s sometimes less expensive to self-publish an e-book than a physical book. Printing costs can add up, but the digital format often involves dropping the manuscript into an e-book template. That’s one of the many trends to keep your eye on.
Audiobook sales have also increased over the years. It’s fun for readers to hear their favorite novel read by the author or a favorite celebrity. And many commuters choose to listen to an audiobook as they drive to and from work or school.
If you’re an indie author trying to break into the book industry, it might be best to start with a printed book or an e-book. Audiobooks are expensive because you’re not just paying publishing costs. You might also have to pay for recording studio time, a voice actor, production costs, and royalties to whoever helped create the audiobook.
Each publishing industry has its own trends. From printed books to digital publishing, it’s important to keep up with these trends so that you know what to expect when you publish and market your book.
Regardless of your geographic location, the book publishing industry is quite competitive. Each publisher is constantly searching for the next writer who will increase their sales numbers with one successful book after another.
One great aspect of publishing in the United States is all of the self-publishing options that authors have. It can be difficult for a new or indie author to find traditional publishers. And self-publishing provides an excellent market opportunity for writers trying to make a name for themselves. The digital publishing industry has grown over the years, and one overall industry trend is that authors can now self-publish e-books at a low cost.
Current publishing trends will help you determine the best time to publish your book—and the best publishing method to use. You already know that e-books and audiobooks are popular. And you’re aware that Amazon Kindle is one of the largest e-book marketplaces in the world. When you put these together, you might lead yourself to publish an e-book for Kindle rather than investing in a printed book.
So, what other trends should you look out for? And how can they help you increase those book sales numbers? Here are a few questions to ask as you research statistics about the book market and the publishing industry:
It’s always best practice to keep up with current trends and news. The book publishing industry is constantly changing, and there’s always new data for authors to be aware of!
There are also publishing industry trends that might apply more specifically to you. As you finish your manuscript and prepare to publish, do a little research on your specific genre or story type. For example:
You should also read up on publishing trends in your geographical region. Here are a few things to find out:
Once you’re aware of publishing industry trends, you can start using the statistics to your advantage.
Understanding book market statistics gives you a competitive advantage over other authors. When you know what your target market wants to read and how they find new books and authors, you give yourself a better chance at selling more books—and find the best publication method for you.
If you’re trying to determine the best publication method for your book, you need to understand market statistics. Keeping up with industry trends helps you cater to your target market and sell more books. The customer data you’ll find in these statistics will show you whether your readers are willing to spend more money on a print book rather than an e-book or audiobook.
You can also read up on the author reviews for various publication methods. Customer feedback from your fellow writers can help you determine the best way to publish your book. So if you’re considering a publishing method that has a lot of negative feedback, consider trying a different method first.
To find the best marketing avenues, start by performing market research. This will show you whether there are enough readers interested in your topic. Then, dig a little deeper! Find out how your target market finds their next book or author. Does the customer data show that they’re searching on Google or looking on social networks like Twitter? Are they reading online reviews or attending book launch events? Identify your reader, and market directly to them.
As you learn more about your target market, you can develop a marketing strategy for your book. This will include everything from a content marketing campaign on your website to paid social media ads. You want the public to read your book, and the stronger your marketing strategy, the wider your audience!
In addition to helping you decide on a publication method and developing a book marketing strategy, studying book market statistics can also help you forecast how much you’ll earn from your book sales. Each publishing method—and every publishing house within each method—has a unique payment structure for their authors. You might earn a certain percentage per printed book sale and a different percentage for e-books.
If you decide to partner with a traditional publisher, ask what compensation packages and marketing services they offer. Your book is your pride and joy, and you want to work with a publisher that you trust. So take your time, study the market statistics, and choose the best publishing method and publishing company for you.
When you understand book market statistics, you learn how to sell more books. And Elite Authors has the expertise to help you use the data to your advantage.
We’re here to help you design, market, and format your book. Visit our website to learn more about how we can help you get published!