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New Study Uncovers Key Profit Drivers for Business Book Authors
Thursday, October 17, 2024
The new Business Author ROI Study reveals that business books generate significant income opportunities beyond book sales, with most revenue coming from public speaking, consulting, and increased business activity. The study, based on data from over 300+ respondents across traditional, hybrid, and self-publishing paths, shows that after six months, 64% of authors made back their investment with a median gross profit of $11,350. Furthermore, 18% of business book authors, with books out six or more months, reported income of $250,000 or higher. Authors who invested in a clear strategy, ghostwriting, and book publicity teams saw dramatically higher returns. The full report is available at AuthorROI.com
CHERRY HILL, N.J., Oct. 11, 2024 /PRNewswire-PRWeb/ -- In the first-ever, large scale study of the return on investment from publishing business and thought leadership books, with data from more than 350 respondents published through traditional, hybrid and self publishing paths, the results of the Business Book ROI Study uncovered a direct correlation between increased profit and investing in an overall business strategy, ghostwriters, publicity, and publishing multiple books.
"The Business Book ROI Study is a game-changer and the first of its kind. For years, authors and industry professionals have speculated about the financial returns of publishing a business book. But now, we have solid data to answer those questions," said Dan Gerstein, CEO of Gotham Ghostwriters. "This study fills a critical gap, giving authors and publishers a clearer understanding of how business books can yield a tangible return on investment."
"This research shows business authors who invest in their books generate significant returns, and that most of the revenue comes from public speaking, consulting, increased business activity, and a boost to their credibility and value of their personal brand, rather than from book sales, advances, and royalties," Josh Bernoff, bestselling author of Build a Better Business Book explains. "Therefore, this analysis is a far more realistic perspective than other data that reflect only book advances and royalties."
Key Highlights in the Business Author ROI Study:
-- Most books are profitable for their authors. Among published authors,
64% made back their investment. Books that had been published for at
least 6 months had a median gross profit of $11,350.
-- Among authors with books out six months or more, 18% reported $250,000
or more in income.
-- Authors with a clear strategy for their primary revenue goal typically
had a profit of more than $96,000.
-- Traditional publishing tripled median income, hybrid publishing nearly
doubled it. Hybrid publishers delivered better service with authors.
Authors with hybrid publishers were more than twice as likely to
strongly agree they were satisfied with their publishers.
-- Ghostwritten books were four times as profitable as others.
-- Authors who hired book launch publicity teams earned a median gross
profit of $55,500--five times that of the average business book.
-- Book sales rarely met expectations. Median sales were 4,600 for
traditionally published books, 1,600 for hybrid published books, and 700
for self-published books. However, book sales alone didn't predict
success or ROI but instead respondents detailed the book opened doors to
new and larger revenue opportunities.
-- And much more.
"We invite authors and publishing professionals to review the survey details to better understand the latest strategies and realistic revenue information in order to give their business books the best chance for financial success," adds Bernoff. The report is available at AuthorROI.com
ABOUT
The Business Author ROI Research Study survey was conducted by statistical professionals Josh Bernoff, bestselling author of "Build a Better Business Book," Bill Sherman, COO and AJ Marsden, Ph.D., Organizational Psychologist and Psychometrician, both of Thought Leadership Leverage who have conducted and analyzed countless surveys for authors and other thought leaders. Survey sponsors also include Amplify Publishing Group, Gotham Ghostwriters, Smith Publicity, Inc. and Thought Leadership Leverage.
MEDIA
For media inquiries, speaking requests, or further information about the study, please contact:
Marissa Eigenbrood, President, Smith Publicity, Inc. at Marissa@SmithPublicity.com or 856-489-8654 x1003.
Business Author ROI Research Website: www.AuthorROI.com
Meet the Sponsors of the Business Author ROI Research Study
Amplify Publishing Group Amplify Publishing Group is a leader within the hybrid publishing space, partnering with media organizations and thought leaders to bring new and diverse ideas to the printed page. Launched in 2003 with a single title, APG has since risen to what it is today--one of the fastest growing and most respected hybrid publishing companies in the world. At the core of Amplify's ethos is a prioritization of innovation: over the past two decades they have brought new and exciting ways to publish to the fore, legitimizing the fastest-growing sector of the market to date, and now stand strong with six imprints and an expert team of publishing professionals.
Gotham Ghostwriters With a network of 4,000-plus editorial specialists -- and connections to a larger universe of 20,000 freelance professionals -- Gotham offers authors, thinkers, and speakers the unparalleled ability to find the right writing partner for their priorities. Gotham also helps its clients find the right publishing path and get the most impact for their ideas through its extensive industry relationships with literary agents, publishers, media outlets, and PR and marketing consultants.
Smith Publicity, Inc. Smith Publicity has been a global leader in creative publicity and public relations since 1997, helping authors and experts expand their influence and build authority beyond the pages of a book. Their clients include New York Times bestsellers, debut authors, CEOs, speakers, academics, and subject matter experts. Smith Publicity secures media appearances that boost visibility, build credibility, and fuel business and platform growth. Recognized in PR News' "Agency Elite Top 100" and as top publicists by Qwoted, Smith Publicity's team continually innovates with clients and their teams to build strategies that amplify their ideas for lasting impact.
Thought Leadership Leverage serves individuals and organizations who generate revenue--through their new and existing thought leadership. For the past two decades, we have focused on B2B thought leadership in three areas: strategy, go-to-market, and enterprise sales. Many of our clients have published a book or two and want to create new revenue streams and produce greater impact from their IP. Others have spent years creating value by being present in the room and the Zoom. Now, they're looking for a fresh business model. We can help clients codify their IP, shape it into market-ready products, and turn one-off transactional client engagements into enterprise-scale opportunities.
Media Contact
Sandy Smith, Smith Publicity, 1 856-489-8654 1002, Sandy@SmithPublicity.com, www.SmithPublicity.com
View original content to download multimedia:https://www.prweb.com/releases/new-study-uncovers-key-profit-drivers-for-business-book-authors-302272791.html
SOURCE Smith Publicity
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