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Dear Not So Secret Agent readers,
If your book will never earn out its advance, is it still worth promoting?
Let me cut to the chase: If you’re a published author whose book came out over a year ago and you think there is no more juice to squeeze from it, you are wrong. As spring royalty season winds down, I can’t help but point out how important “backlist” is for books.
The definition of “backlist” varies with each publisher. Some houses consider titles over six months old backlist. Others may define “frontlist” as the three-month spread, and anything after that is backlist. Just the other day I was chatting with one of the big 5 publishers who said that their books formally move to backlist after a year.
However it’s defined, backlists are gold IMO. It’s the time when a book settles into the possibilities of consistency and longevity. I remember early in my career flipping through publishers’ seasonal catalogs to get a sense of each house’s overall taste/brand through their backlist titles.
Ah, remember printed publishing catalogs?! I do. Shoutout to all my old dog-eared dELiA*s catalogs – I wonder which corner of Lisa’s basement they’re hiding in…
Anyway, while publishers keep cranking out new titles, your book is YOURS forever. Make it work for you and please, please, please, keep working for your book!
Keeping in mind that many most book advances don’t earn out, I’d like to make a gross generalization and say that there are typically three kinds of authors when it comes to advance and royalty outlooks.
Which one are you?
1. High Heat: This is the author who sees the book deal as the end-all and be-all. They aim for the highest advance and are all about the “take the money and run” vibes. They will never earn out and never earn royalties. Now, this doesn’t mean their book isn’t a success! I am purely talking about the author’s mindset.
2. Bake at 350: This is the author who is already cooking up their next book idea as they’re pitching their current one. Each book is a steppingstone on a bigger career path; authoring several titles is part of their professional portfolio goals. They aim for a large advance (who doesn’t, amIright?!) knowing all too well it likely won’t earn out. Even without the hope of royalty checks, they have a plan in place to keep their book selling steadily (between 50-100 copies per week, even a year after it's been published). The author, publisher, and agent would all be thrilled with that staying power and momentum!
***Not So Secret Agent Side Note: The big 5 house I referenced earlier also delighted me when they said they have an entire M&P team (marketing and publicity team) dedicated to backlist titles. They watch market trends, tinker with SEO, and even focus on certain post pub media opportunities. I love this and I wish more publishers had these dedicated teams.***
3. Slow and Low: This is the “sweet spot” author who seeks a book deal with a more modest advance expectation and is pleased as punch to hopefully earn out their advance. They see steady royalty checks each season (and wow do those feel great to get!). This author likely aims for midlist publishers, maybe a few independent houses, and is settling into a stable and long-term relationship. This author may also crank out a bunch of books in their career.
***Not So Secret Agent Side Note: I recently spoke to a publisher who has a very specific model where they only make offers that they project will earn back the advance. Not only that, but they also project their frontlist books to earn out within the first 12 months of publication. They sign over 2,000 books a year (yea, whoa) and expect their authors to write more than just one title. I should mention this is not a publisher who specializes in cookbooks, and that makes them a bit of an outlier for me (I have not sold them a book yet). But still, their model and statistics completely floored me.***
Sure, the three mindsets above are sweeping statements of how authors enter their book deals. You probably fall somewhere between two of them. But the exercise got me thinking. I sift through thousands (literally) of unearning royalty statements each year, and doing so always brings to mind the number one question I ask that often stops prospective clients in their tracks:
WHY do you want to write a book?
Certainly, it’s not for the money, right?
Dear prospective author: for most writers, landing a book contract is not going to make you rich.
Truth be told, no matter how many times I try to smash someone’s dreams by telling them that even the biggest book deals are not viable retirement plans, I can still see it in their eyes that they’re secretly thinking, “Yea but Sally, I still think I will make money from my book advance.”
Sure, you may generate new revenue from publishing a book by earning out your advance and receiving royalty checks.
Usually though, and this is critical, your “payout” comes in the form of peripheral opportunities that arise from the fact that you’ve written a book. Your book can boost your visibility and marketability and further establish your expertise. Your book is a tool you can use. It is a tool can leverage.
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Save the date for July 30th from 1-2:30. There will be a very special guest presentation and another AMA. Much like the last gathering, the first hour will be for questions and information sharing, and the final 30 mins will be an OFFER & ASK facilitated networking session by yours truly.
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I feel like 99% of my job is managing expectations lowering expectations. Of course, when it comes time to pitch, I do everything in my power to pleasantly surprise my clients with beautiful offers.
Let’s say, for example, you are offered a $75k book advance. Would you say yes to that?
Maybe it will take you a year to write your book, another year of editing and production, and then it will be released a year after that. Now let’s say that six months after your book comes out, you have a bunch (okay maybe 8) major media hits that help establish you as an expert in said topic.
Okay, maybe they’re just regional hits, and if you’re lucky, one national media hit or a big digital publication feature. Great! A local university is looking for a keynote speaker. They saw you and were impressed, so they pay you $5k for a 45 min keynote and 15 min Q&A. Would you say yes to that?!?
I would.
Ultimately, I don't think any author should set out to write a book because they think it will be a direct money maker on its own.
A book is not a retirement plan, but it can be a big, beautiful business card.
As a literary agent that oversees a portfolio of titles dating back 30+ years (!), and is integrated within JVNLA, which has been in business for over 45 years, I have the tremendous privilege of seeing countless titles that DO earn royalties.
Let me tell you, there is no one topic, trend, or technique that consistently earns out. I often see specific authors (typically with big platforms/communities of beloved fans and readers) earning out. Or I see titles earning commensurate with the size of their associated publishing house.
Bigger houses = more distribution = more sales.
However, even the most consistently earning books have peaks and valleys that mirror the state of the industry.
Not So Secret Agent Sally, what kind of money are we talking about here?! Like everything in publishing, IT DEPENDS. Back in the days of paper checks, I would often find myself wondering why the publisher spent more on postage than they did on the enclosed payment – not kidding. But then there are the checks that may not be able to pay for a new boat, but they do help you pay the bills. Those are nice!
Every now and then there is even that new boat money. Sure it may be a paddle boat, but hey, a boat on the water is a boat on the water. Those statements often coincide with some sort of co-merchandising momentum that is happening in the bigger social zeitgeist in my experience (appliances, etc..).
Though it varies publisher by publisher, most royalty reporting happens in six-month cycles, meaning this spring I am seeing sales on books from last fall, aka the holiday season, which almost always has a nice spike across the board.
And I LOVE when a publisher keeps a book in print that is selling well. This helps authors stay motivated to integrate their book into everything they are out in the world doing. After all, one of the reasons publishers want authors with big platforms is for their potential to be their own driving force in the financial success of their book.
***Not So Secret Agent Side Note: A few years ago, I had a publisher put a book out of print within 12 months of its publication. Both the author and I were furious! It felt like the publisher didn’t give the book a chance to find its momentum, which often can come well after that initial on-sale push. (FYI, most of the time a book will go out of print once it is selling less than a contractually-stated threshold – anywhere between 25-500 copies/statement period period). To have a frontlist book taken out print within 12 months is unheard of. Everything became clearer when, within the next 24 months, the publisher had completely revamped their publishing program and ceased a massive part of their list.***
Though authors can’t control what a publisher does with their backlist, nothing makes me sadder then when I talk with an author who thinks that after their book has been out for a few years, the “opportunity” has passed. In most cases, just the opposite is true!
Don’t walk away from the incredible amount of hard work you put into finishing your proposal, landing your deal, and producing your beautiful book.
Over the years, it has been delightful to watch authors figure out how to adapt to the changing landscape. As clients learn to pull various levers on promotion, marketing, and sales for their books, I get to see their hard work show up as a sales spike in the following royalty period.
One of my favorite feelings is when I see an author is suuuuuper close to earing out their advance or has just earned out. I love dropping a note or text to let them know their first payment is on the way. Woot woot!***
I have talked with hundreds of authors who have found creative, consistent, and impactful ways to keep their books selling.
Here are a few NSSA tips on how you can jumpstart and then maintain the energy of your book, and hopefully gain some sales momentum:
Compile all the media from your book and make sure it is loaded onto your website (with SEO and links).
Re-share big media hits (stick to placements from the past 2 years or so) across your platforms.
If your e-book goes on a deep discount sale, PROMOTE, PROMOTE, PROMOTE! I have seen a direct correlation between e-book deep discounts and a spike in printed book sales.
If your book was published in hardcover first and has a paperback edition (often a year later), you can do a new, full push for the paperback!
Pitch podcasts. These have longevity! Also, make sure to grab graphics and re-share podcast appearances well after your book comes out. Your platform will have grown, and new readers/fans will be excited to listen!
Make sure your book is available for sale at events, speaking appearances, demos, classes, anywhere you are showing up to do your professional thang. Or better yet, negotiate a bulk buy as part of your speaking/appearance fee.
Collab with brands, organizations, institutions. What does your daily/monthly schedule look like? Always be asking yourself where your book can be integrated.
***Not So Secret Agent In-Tip Sidenote: In some cases, this may even be a second “book tour” in that you are already traveling to select places for other aspects of your career and you intentionally plan book-related events or media in those networks. It will likely get harder to formally position this as a tour per say if your book is over 2-5 years old. But no matter what you call it, events or appearances where you can integrate your book are gold. I have seen clients and other authors I respect announce second or third waves of book tours to great success! One caveat is to consider potential venues for these kinds of events. If they are spaces known for book events, they are likely booked with frontlist/new releases. So, pick non-traditional venues instead. Think book clubs, libraries, community centers, educational spaces, private clubs, etc.***
Assess the marketplace. Who are the emerging voices in your category of expertise? Connect with those people!
Co-merchandise: What are the products that compliment your book? Are there ways to build relationships with those companies? How can you get your book into “special sales accounts” aka non-traditional places that sell books alongside other items?
Audit your platform. What accounts do you have the most engagement on and when was the last time you promoted your book? What accounts are the least engaged and when was the last time you promoted your book 😉?
Go back to your original book proposal. What was the initial plan you had mapped out for yourself all those years ago before you even landed your deal? Who in your network are super fans at this point that you could reach out to? What ideas come to mind when you look at your community/platform from the past and what stronger positions/connections/relationships can you leverage now?
If you were writing a NEW marketing and promotion section for your book proposal today, what would you include?! Think about the new platforms to pitch. What podcasts, newsletters, social media accounts, etc. exist now that speak to the same audience as your book?
For those of you reading this who have earned out an advance and are receiving royalties, how did you get there? How do you maintain relevance and momentum?
For those of you reading who’ve published a book that didn’t earn out its advance, how have you made your book work for you in other ways? Do you have any stories or ideas to share?
For the readers out there who’ve receive royalty statements but have no clue how to decipher the horror that is these gibberish documents – I see you. You are not alone.
And to those of you who are wishing one day to be published and have the honor and privilege of reading any statement at all that lists you as an author, I see you too. Keep working, writing, and learning!
Finally, for the rest of you in the industry who are reading this and have tips based on your years of experience, I hope you will comment with other ways you have found to move the needle on sales!
Thanks for reading. If you have the means, I encourage you to go buy a backlist book. You may make an author you love smile six months from now! 😊
~Sally~
I was so bummed when my second advance was smaller. But you know who’s not bummed? The me that gets checks every time for that book now!!! Thanks for all the reminders. Sometimes I hesitate to promote my cocktail books to my food-focused audience on The Dinner Plan…but maybe I should.
in the area of publishing I work in, i've learned that its backlist books (and new editions of them) that keep the lights on.
as a self-publisher I have been surprised to find this also to be true. My first core book just keeps finding new readers and when they are new to my work they want that first introductory title.
Irrelevant side note: It makes me wish I'd taken a publishing deal when I had the chance 😫