Insights & Publishing Trends for 2018
This year 2017 has seen some seismic shifts in the publishing and advertising industries as major issues such as transparency and brand safety have taken centre stage. Next year is shaping up to be no different, as the industry looks ahead to key issues which will dominate the news agenda over the next 12 months and beyond.
“GDPR will hit in May 2018 and with just seven months left to be ready, many within the industry are only just learning about the implications. People are spending more time online across a wider array of devices and are becoming smarter at consuming online content. Consumers are hungry for real content and will be looking for ways to cut out fake news and time-wasting content by seeking out better quality content providers and starting to pay to access the best content.
2018 will continue to deliver opportunity; we all need to think about building interactive audio relationships via Amazon Echo, Google Home and other voice controlled devices, and how virtual reality devices like Oculus Rift and PlayStation VR and augmented reality via the latest generation of iPhones will affect the way we communicate brand messaging to our audiences in new and innovative ways.”
“Native advertising has rapidly gained momentum this year and will continue to do so in 2018. With native ad spend expected to reach more than €13 billion across Europe by 2020, it is safe to say it is no longer just a buzzword, but an essential part of the marketing mix that is finally getting the recognition it deserves from the industry.
“As publishers look to focus on brand safety, transparency, and the user experience, I expect we will see more of a migration to native as developments in creative technology bring more flexibility. By harnessing the capabilities of programmatic, the scale and efficiency of this flourishing format will be a force to be reckoned with.”
Electric Eclectic books incorporate aspects of Native Advertising in their marketing strategy assisting indie authors book sales. The amazing thing regarding Native Advertising is most people will not recognise or notice it occurring because it is an almost subliminal method of carrying your brand message.
THE CONTINUED RISE OF INDIE AND HYBRID PUBLISHING
Traditional publishers may offer prestige, but also limited creative control and royalties. In recent years, independent publishers have accounted for an ever-larger share of the market, with the help of high-quality cover designs, writing, and marketing plans.
Last year, data showed for the first time the share of self-published books and books published by small publishers, at 42 percent, was larger than the market share of big-publishers, at 34 percent.
Ascendant is the phenomenon of hybrid publishing, which includes a variety of publishing models which straddle a middle ground between traditional publishing and self-publishing. Veterans of traditional publishing have left behind their larger companies to bring top skills and experience to the world of independent publishing.
More and more authors are opting for hybrid publishing, which allows them to hold on to creative control and royalties while benefiting from the best of the traditional publishing world.
LONGER SHELF LIFE WITH EBOOKS WILL MEAN INCREASED COMPETITION
With the rise of digital book listings, we are seeing a change in the lifecycle of books. When keeping books available depended on a limited quantity of physical shelf space, it meant books that no longer sold well were removed from shelves as soon as possible.
With digital retailers, there is no such premium on shelf space. With books remaining discoverable indefinitely, authors and publishers may want to take a fresh look at “legacy titles” – books published in the past that are no longer a focus for your attention.
Consider reinvesting in a new cover, book description, and marketing resources to revitalise these titles.
Remember, in this age of digital ebooks and kindle, the more books you have available, the better chance you have to grab your share of the crowded eBook market.
This is one reason you should have a minimum of three marketing branded books working for you and all your prime titles. Electric Eclectic (part of CQ International) is the fastest growing and most inventive brand. Take a peek at their Facebook page. https://www.facebook.com/ElectricEclecticBooks/
MORE BOOKS, STAGNATING READERSHIP
According to Pew Research Center, about 73 percent of Americans read at least a book a year.
This is a figure which has remained stagnant since 2012. Meanwhile, the number of books published in the US has grown exponentially since 2010. Self-published titles have grown from 133,036 in 2010 to 727,125 in 2015, an increase of 446.5 percent. (latest full figures available.)
Getting your books to readers has, therefore, become an increasing challenging.
Authors need to work towards “discoverability”, working to develop their own audience as an author and creating strong brand marketing for their books.
Many self-publishing authors also face criticism for poor editing and packaging – with more books on the market, the pressure to create and maintain high-quality presentation is becoming paramount. Pay special attention to your design choices; editing and marketing can help self-published books rise above the rest. But a great cover is your first opportunity to attract readers to your book. A professional cover will help you gain sales. Check out PeeJay Designs. They offer a professional, but friendly and communicative service HERE
AUDIOBOOKS ARE GROWING
Audiobooks are the fastest growing sector of the publishing world.
In 2015, the audiobook industry was valued at 2.8 billion dollars. 43,000 books were released that year alone, compared to 36,000 in 2014 and just 20,000 in 2013. (Latest full figures available.)
Since audiobooks do not follow the same agency model as eBooks, publishers have been more willing to experiment with distribution models for audiobooks. In particular, subscription models, such as that of Amazon’s Kindle Unlimited platform, are on the rise. In a similar approach to Netflix or Spotify, the service offers unlimited access to 2,500 audiobooks.
While the cost of creating an Audiobooks is higher than most forms of book creation, including many hardcover formats, it is one of the publishing trends to seriously consider.
As with all relatively new markets, audiobooks platforms, production and distribution methods are only in their infancy, so invention and initiative are prime.
PUBLISHING TRENDS 2018 – SUMMARY
The publishing trends of 2018 are likely to follow the broader patterns seen throughout the decade; the rise of small publishers, digital platforms and new formats.
In other ways, the publishing world will continue to see a backlash to traditional, restrictive and controlled marketplaces during in 2018.
Keeping an eye on such trends can help publishers and authors get a sense of where things are headed in the years to come. The future will be about development, choice and ‘canny’ marketing.
The data reveal what some might consider a surprising generational pattern in book reading.
Young adults, those aged eighteen to twenty-nine, are more likely than their elders to have read a book in the past twelve months.
In 2014, there were more hugely successful movies based on young adult books than ever before. Divergent, The Maze Runner, The Fault in Our Stars, If I Stay, and The Book Thief all appealed to a younger audience and may be causing this surge of interest.
We’ll have to wait to see if this is a passing phase or a longer-term trend.
The survey also noted women are more likely to be the book readers in a household. The average woman reader read fourteen books in the past year, compared with nine books for men.
In 2014, Pew reported that 50 percent of Americans have a dedicated handheld device, either a tablet computer like an iPad or Kindle Fire, or an e-reader such as a Kindle or Nook, for reading digital content. This is up from 43 percent in September 2013.
While tablets are still the most popular electronic way to read digital books… at present, last month The Wall Street Journal predicted they may be pushed aside by smartphones in coming years.
In the first three months of 2015, 41 percent of ebook buyers read digital books primarily on their tablets, according to the newspaper (citing Nielsen data), and 32 percent read ebooks primarily on their e-readers. However, the publication also reported on a Nielsen survey from this past December that found 54 percent of ebook buyers read on their smartphones at least some of the time. In 2012, that number was just 24 percent.
Fortune cites reasons for the adoption of reading via smartphone:
“Convenience, of course, as well as ramped-up technology that makes reading on mobile phones a more pleasant experience. Smartphone screen sizes, too, are getting larger.”
Okay, that will do for today.
There is a mass of indicators which will need your careful consideration when deciding which tactics to adopt in your overall marketing strategy.
Chose carefully and wisely, invest well and reap the rewards.
Thanks for reading another of my rather out-of-character serious postings… my normal, regular Ramblings shall resume shortly.
In the meantime, take a look at the latest Electric Eclectic Novelettes at http://amzn.to/2ytghmb