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The world of marketing

Is marketing books important? What are the most effective way to market your book on a global scale?

 

Should you consider audiobooks?

 

How much does the 'average' author earn through writing?

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Changes in Publishing

 

The traditional way of publishing used to be you write a book, send it to a publishing company and wait for their response. If you were lucky enough, you might get a response after several attempts. But since the evolution of digitisation and self-publishing platforms, it has become easier for independent and self-publishers to get their books to the readers.

Marketing stats

  • Bookbaby conducted a 2017 Self-Publishing Survey that had 56 questions and involved over 7,600 authors. 60% of respondents were published authors whilst the rest were aspiring authors who had yet to publish a book. The authors were categorised as high earners (earned over $5k in sales) and low earners (earned less than $100).

  • Most published authors 51% solicited reviewed from book bloggers, Amazon reviewers. But 61% asked friends and families to review their books.

  • Most published authors 51% solicited reviewed from book bloggers, Amazon reviewers. But 61% asked friends and families to review their books.

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  • 81% of published authors thought social media presence were an important factor.

  • Audiobooks were popular amongst highest earners; there were 39% high earners ventured into audio books compared to 6% of the lower earners. The reported noted that audiobook sales totalled $1.77bn in 2015.

  • The report noted that 50% of the higher earners agreed or strongly agreed that heavily discounting their eBooks resulted in more downloads.

  • The reports states that 68% of the successfully high earning authors have published more books five books, whereas 85% low earners had published less than five books.

  • Authors who earned over $5,000 used more professional services

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Based on the above research, it would appear that if you want to be a successful author, you will need to publish more than five books, devise a marketing strategy that includes solicit people to review your books and undertake pre-sales, and make sure they have someone produce an attractive book cover.

Growth of Audiobooks

 

The BBC reported that a study by Deloitte predicted the global audio book market will grow by 25% to $3.5bn. The article highlights that download of audiobooks were high among urban-dwelling males aged 25-44.

 

https://www.bbc.com/culture/article/20200104-audiobooks-the-rise-and-rise-of-the-books-you-dont-read 

A report by the Independent newspaper noted audiobook sales in the UK generated £115m, this was a 30% increase in sales from 2018. Whereas printed book sales fell in 2019 by 5.4%.

 

https://www.independent.co.uk/life-style/audiobook-sales-ebook-kindle-uk-deloitte-2020-a9229266.html 

So if you want to increase your sales, audiobooks are worth considering as an investment.

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