In the same way that it's always easier to parent other people's children perfectly, it's easier to criticize the publishing industry from the outside and see what needs to be done. Still, as an 'outsider' who's been in various segments of the publishing industry for over 25 years, here's my top five list of changes the publishing world needs to implement in order to survive the current economic downturn--if the industry is to emerge at the other end intact.
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Give up on returns
It's ironic that the policy of bookstore returns started during the last
economic Depression, when Simon & Schuster decided it was a great
way to allow bookstores to take chances on books because there was no
downside. Today, however, the cost of allowing returns is strangling
the entire publishing industry. Now's the time to introduce economic
incentives for booksellers who are willing to forego returns--or just
eliminate the option unilaterally, across the industry. Like
gravitating away from hardcovers to soft, eliminating returns will bring
book prices way, way down--and change the economics of the entire
business.
Put galleys online
Distributing hard copies of advance galleys four
months before official publication date is a practice that should have
died out with the advent of instant printing several years ago. Why
should publishers do headstands to get advance galley copies of books
(books that are already in final form, mind you) into the hands of
opinion makers four months before the books are officially released?
It's time to put galleys online where they belong. Not only will this
save mega bucks and mega time, it will eliminate the fake 'four month
window' during which you have to sit on your books, as well as the
plethora of galleys available for sale on Amazon. Done correctly, it
might even generate advance buzz amongst readers.
Market the books, dammit!
When McDonalds introduces a new burger, they do a
PR campaign. When the Hilton introduces new amenities, they do a PR
campaign. It's hard to even think of an industry where products for the
general public are not marketed. But usually the publishing industry
only markets books that seem to be taking off already. As an industry
pundit once said, publishers would wait to see whether the infant
survives before bothering to feed it...
Source: ThePublishingGame.com
Fern Reiss is CEO of PublishingGame.com (www.PublishingGame.com) and Expertizing.com (www.Expertizing.com) and the author of the books, The Publishing Game: Find an Agent in 30 Days, The Publishing Game: Bestseller in 30 Days, and The Publishing Game: Publish a Book in 30 Days as well as several other award-winning books. She is also the Director of the International Association of Writers (http://www.AssociationofWriters.com) providing publicity vehicles to writers worldwide. She also runs The Expertizing® Publicity Forum where you can pitch your book or business directly to journalists; more information at www.Expertizing.com/forum.htm. Sign up for her complimentary newsletter at www.PublishingGame.com/signup.htm. And definitely sign up for her Facebook Writing and Publishing group at harvard.facebook.com/group.php?gid=6138914001.
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