I have shared one of Mark Coker’s prediction posts for 2018 in last January’s post, and I am sharing the 2019 post here. I am sharing it, because most of what he talks about in this post is something I’ve already seen, felt, and experienced myself as an author.
I think a few of my recent posts might already have illustrated how the stagnating market has been pressing on me personally. They have been downers, to say the least, and I suppose I should apologize for that. This blog was meant to be a place for education, not emotional ranting. But in a sense, it also illustrates what many, many, many other authors are feeling. Yes, times are tough. Yes, sales are down across the board. Yes, our market is oversaturated, and we’re all scrambling to pedal our feet a little harder, churn that cream a little faster so the resulting butter will allow us to climb out of the hole.
But even with all of this going on, I’m still not ready to give up. I’m changing my strategies, but I’m still moving forward, and fighting hard to look ahead, rather than focus too much on right now. Book publishing is a marathon, not a sprint. And because of that, we all must think long and hard about how we spend our energies.
For those interested in more details, you can read the full post of Mark Coker’s 2019 Book Industry Predictions.
A few things I will share from my own experience to add a personal twist to these predictions:
Having had my first one produced last year, I can tell you for a fact it is not cheap. It is also not another get-rich-quick scheme. It faces the same marketing challenges as eBooks and print books: if you don’t promote, you don’t sell. But what audiobooks do is bring you to another potential market segment, and that is always a good thing. I had already planned to do more audiobooks, and now I think it’s time to move up my plans just a little. I think the cost will be worth it in the long run. For me, anyway. 🙂
If you’ve seen my Twitter profile, you will see I haven’t tweeted anything in ages. Twitter has never been my preferred platform. It’s too fast, and I can’t ever keep up. I think I just gave up on it, to be honest. If you’ve visited my Facebook profile recently, you may have found a notice pinned to the top, saying I am on hiatus from social media until further notice. It’s true. I haven’t logged into Facebook since January 1, except to tack that post on there. It’s done miracles for my state of mind. I’m calmer, I have more time to read and write, I focus better, and think clearer. I hadn’t realized until I left Facebook how great, and how negative an impact it’d had on my life in general. I probably won’t shut it down all together–I can’t afford to, now that I have actual events to attend. I will need to promote the hell out of those in any way I can. But I don’t plan to ever spend as much time on it again. My time is better spent on more productive things. Like writing.
This is one point on which I want to disagree with Mr. Coker. I see huge potential in Blockchain technology, especially when put into proper use. I think it would do wonders for the industry if the secondary market was opened up to authors. If readers can resell the books they don’t want to keep, and authors have a way of earning a portion of that sale, everyone wins. Right now, eBooks are pretty much a “final purchase” situation. As in, once you buy the eBook, unless you return it within the allowable time frame (if the retailer allows it), you will never get that money back. That is not to say that buying an eBook isn’t a worthy investment, by any means. But we’re allowed to sell our used paper books. Why not eBooks? It would eliminate the risk inherent in trying an unknown author’s work to know you can recoup at least some of your cost, wouldn’t it? And if authors can get paid along the way… But of course the retailers would never allow it to happen. It would cut far too much into their profit margins.
On this point, I agree wholeheartedly. Having experimented with Amazon ads over the last few months, I have seen the pay-to-play scenario first hand. It’s vicious, expensive, and unfair to all authors. (cue me stomping my feet and holding my breath) The fact is, if you have to pay Amazon for visibility, you are paying them back the royalties you ought to be earning. In my case, I was willing to take a loss on an ad to see if it would work. In the long run, it didn’t. I never recouped that investment from eBook sales, not even when I factored in sales of books other than the one I advertised.
All of this will have an impact on my business strategy moving forward. It’s always good to stay on top of what’s going on in the industry and, even though the news is pretty bleak, it’s pretty much what I expected. That at least tells me I’m finally getting the hang of this business. I can put two and two together, and make plans accordingly. Of course, no one has a crystal ball, but I tend to err on the side of caution, which has served me well so far. So, for 2019, my plans will be to keep writing, limit my time on social media, and focus on the long term.