A Publisher's Conversation with Authors: Magic Numbers
It is Tuesday. Monday's madness is over, and Wednesday will take us over the hump, so Tuesday it is--for some serious discussion with authors. Tuesday talks mean to address authors in waiting and self-published authors who would like to go a more traditional route or who would at least like to take their steps with a publisher by their side.
This week, which culminates royalty month (payout time) for us, seemed like a good time to talk about "magic numbers." These are the numbers that dictate an author's life and success. The ones given below are, of course, the best that are available at the current moment.
It takes 22 times for a reader to see or hear about a book before purchasing it.
It also takes 22 times of viewing information about a book for a Pinterest reader to pin it.
Much higher are the times needed (or, much lower the odds) for obtaining a contract from a publisher for a proposed book. That number can be very high indeed, and many authors note more than 100 submissions before landing a contract. While the average number of submissions for a nonfiction book before securing a contract can vary widely, it's estimated that only about 1-2% of manuscripts submitted to publishers are accepted. This means authors often need to send their work to multiple publishers or agents before finding success. Persistence is key, as even high-quality manuscripts might face rejection due to timing or market conditions. Persistence = many times.
Typically, it requires 250-300 sales for a book to pay for itself. Much depends, of course, on cost of the book and cost of production. Four-color books will need to sell more. Traditional publishers have to account for royalties and therefore must sell more copies.
In a lifetime, self-published authors average 250-300 sales. That number matches the first-year sales for a traditionally (or hyrid) published book in the first year. In both cases, the sales number is closely tied to the engagement level of the author. Some sell more, and some sell less. Authors who are not engaged (limited or no platform; limited or no mailing list -- some tradition publishers require a mailing list of 20,000 before being will to offer a contract) and those who are minimally engaged (interacting less than weekly with readers) generally see only a fraction of those sales.
On average, authors who are successful in landing a contract make 5-10 major revisions of their manuscript -- structure, content, style, and, of course, repairing grammar errors and typos.
Bottom line: Authoring is not for the weak or easily discouraged!
The Tuesday talks reflect real discussions between the management of MSI Press LLC and our own authors or those would-be authors who come through our doors but don't make the cut--yet. If you have a topic that you would like addressed, leave the question in the comment section. Chances are, in our 22 years of publishing first-time and experiences authors, we have had a conversation with one of our authors that we can share with you.
See more Publisher Conversations with Authors HERE.
Learn more about publishing from an acquisitions editor -- how to get your book proposal accepted, why proposals are turned down/accepted, and how to find the right publisher for your book. On special sale for $5 while inventory lasts at MSI Press webstore. Also available as an e-book and an audiobook.
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Julia Aziz, signing her book, Lessons of Labor, at an event at Book People in Austin, Texas.
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