Publishers, and thus writers have
never been in a better place than they are right now. This may sound like an odd statement when in fact the publishing house is like a deer caught
in the dim glow of an e-reader, maybe not the most eloquent example but you get
the idea, but the fact is that with the quick decline of print the opportunity for e-publishing is
flourishing.
Ask any scientist or professor who
is a leading authority on some esoteric, tiny niche that have published a
multitude of books to a readership of ten. They got published by either a
vanity press or university publisher or their time spent doing research, book editing and writing will earn them
far less than if they had got a summer job flipping burgers. The printing costs
are high and the royalties are tiny.
Now with e-books the same content
can be produced into an electronic format, the printing costs are nil, the
royalties are higher as well as the potential to have a greater readership is
increased dramatically due to costs being lower to purchase the book and
distribution reaches everyone with access to an internet connection and a
credit card.
What does it mean for publishers and authors? It means that
finally there's a viable market for small, niche markets to start. In addition,
trends in genres will change quickly and without warning, book's sales-cycle
will be shortened and best seller lists will change quicker and will have a far
higher percentage of previously unknown authors.
For small, highly targeted
readership audiences we will be able to market directly to them through on-line
forums, discussion groups and organizations. A very inexpensive marketing
strategy and allowing authors in these markets are to still generate a
reasonable return on their time investment.
Second, fast changing trends in
genres will allow both publishers and authors to define the trend through great
writing and creative marketing strategies, be ahead of the market instead of
simply following, the focus once again will be to find great author website not simply authors that
happen to write in a currently popular style or group.
Third, books will find explosive
growth (marketing companies will attempt to create viral marketing plans and
fail), growth will come from the masses, from word of mouth and once again from
great writing. Books will peak early and fast, then dwindle just as quickly to
a few late adopters that are trying to catch up. Authors that come equipped
with a series are ready to be launched as soon as the decline of the first book
starts will be the big winners. Authors with strong websites and social media
campaigns will also win this battle because they will be able to retain
interest and have access to a database of loving fans and Facebook followers.
There will be an increasing trend of short stories written between novels to
try and retain readers. Authors that adopt this strategy, while maintaining a
high level of quality will be successful.
Fourth, best selling lists will
switch from a weekly New York Times list to first a bi-weekly and shortly
thereafter a daily best sellers list with weekly lists merely a synopsis.
Authors and publishers will have to fight daily for each title on the list,
campaigns will become more and more sophisticated to keep up with buyer’s
behavior, pricing will begin to be set daily if not hourly based on purchasing
trends and possibly even by reader, based on a combination of income and age. Book editor launches will be set for a
specific day and hour based on that demographic. Technology learned from travel
sites and others will be utilized to improve purchasing on hand held devices
and captured information will continue to improve the recommendations and
target books specific to your interests.
What is the overall lesson behind
all of this? Great writing will still win out. Now, we as publishers need to
become equally as great at getting the word out. It has never been a better
time for readers and authors. It's going to be a crazy couple years! Start
writing.
Rick Momsen is the CEO of Pegasus Publishing
