What authors should know if they want to sign with a traditional book publisher
This post is a long time coming, but I’d only heard here and there about the nuances of traditional book publishing—not enough to form a blog post—until I signed up to Scribe Media‘s email list and got a free digital copy of The Scribe Method.
This book answered a lot of questions I’ve had or been asked, so I’m sharing what I’ve learned with you.
6 pros of traditional publishing
1. If you have a big following, you have a good chance of getting picked up by a publisher.
As mentioned in last month’s blog on putting together a book proposal, a publisher expects authors to sell 25,000 copies at launch. So if you’re already an influencer and have, say, 100K social followers or the equivalent in website visitors and e-mail subscribers, your chance is higher of getting picked up by a publisher.
2. The publisher gives authors an advance.
This is usually six figures, which is a nice number. But also check out #3 and #6 in the cons section.
3. The publisher provides the required services.
Authors need the help of editors, formatters/typesetters, and cover designers to get a book published. This is the biggest pro for authors who don’t have a budget.
Unlike self-publishing authors, you don’t need a five-figure budget or have to shop around for these services or work with a hybrid publisher to get your book published.
4. Authors have the highest chance of getting their book in bookstores.
The world has changed. Most readers I know get their books online, primarily from Amazon. However, you also can’t beat convenience—I live by a Book Warehouse location, and it’s nice to buy a popular title there.
Some authors still consider having books in a physical bookstore a sign of success, but know that it doesn’t guarantee sales. Bookstores WILL buy copies from top publishers, but do you know what happens if the book doesn’t sell after a certain period? I bet bookstore employees get first dibs on free copies, but after that, they get recycled or trashed.
If you’re wondering whether self-publishing authors can get into bookstores, the answer is yes, BUT…you have to approach them individually, which takes time and effort. You’ll have the most chance of having local bookstores sell your book on consignment. Also, lot of bookstores will only order hard copies if your book is on IngramSpark.
5. Authors have the highest potential for media coverage (and therefore sales).
Like the government’s relationships with corporations, book publishers have deep relationships with mainstream media. Take The New York Times‘ bestseller list as an example. Chances are your self-published book won’t get on that list because of the lack of distribution at bookstores. (However, outliers have proved otherwise like Mel Robbins, who made the list because of audiobook sales of The 5 Second Rule.)
I think most authors won’t have difficulty getting podcast interviews when they launch a new book, but if you want to get into the major newspaper, TV, and online outlets, working with a publisher provides that credibility self-published authors lack.
6. Working with a publisher is prestigious.
Nothing beats being able to say who your publisher is, especially if it’s one of the big five (Hachette, HarperCollins, Macmillan, Penguin Random House, and Simon & Schuster).
6 cons of traditional publishing
1. It’s hard to get picked up by a publisher.
Remember, J.K. Rowling was rejected 12 times by publishers before one took a chance on Harry Potter. That being said, very few authors can write a masterpiece like that. If you’ve got the following and confidence to be able to sell 25,000 books at launch, it’s easiest to prepare a book proposal and find an agent willing to represent you.
If you don’t land an agent, I’d say the best way to get picked up by a book publisher is to approach the smaller niche ones in your book subject. But note that the quality of the smaller publishers may not be as great as the big five. Do your research and scrutinize their websites and titles.
2. The publisher owns the print license (including digital) and IP.
This means you can’t change your book cover or publish a subsequent edition whenever you want. Whether it’s in perpetuity or after a certain number of years, you don’t own the rights to your book. That includes the content.
I know someone who has hired a lawyer to get her out of the contract she signed, as she no longer wants to be associated with the publisher (it has since published several anti-transgender titles). This was not recently, so it seems they’ve been carrying the rights to her book for some time now.
3. The publisher doesn’t help you write the book.
While authors don’t have to have written a book to pitch the idea to a publisher, they must write the book on their own once they sign an agreement. If you’re not a confident writer, you may need to use some of your advance to pay someone like me to help you write your book. A lot of celebrities will hire a co-author or ghostwriter when they land a book deal for this reason.
4. Time to publish is 1 to 3 years.
If you’re thinking you’ll be able to write a book within a year once you land a book deal, that may be true, but that doesn’t mean you’ll publish your book in a year. You get put into a queue and it could be 2 to 3 years before your book comes out. Don’t plan any vacations on your launch date!
5. The publisher has final say over all aspects of the book, including the cover, content, author bio, and selling price.
This is the result of #2. Since you don’t own the rights to your book when you launch it, you don’t get final say on your book cover, interior, author bio, or even content.
Also, since you get set your own book price, your financial earnings are limited. Royalties range from 5% to 15% per book copy (compared to 40% for self-published books), so don’t expect big numbers to roll in after your book launches. This is why a lot of us authors continue promoting their book beyond a year’s time.
6. The publisher does not help with marketing.
I worked with one author whose independent publisher sent out a news release to media and even helped to create a five-part video course to promote her book, but this is not common. Publishers expect authors to invest in marketing their book (that’s where that six-figure advance comes in handy) and do signings at events, conferences, etc. For example, use a few thousand dollars to work with a publicist to land media interviews.
The client I mentioned in last month’s blog post said she can’t receive more royalties until she hits the 75,000 copies sold mark, so know what you’re agreeing to when you sign a contract with a publisher. I’d rather get 5% of every copy vs. take on the pressure to reach huge sales quotas.
Need a book coach, editor, formatter, or marketer to help you publish your book so you can get it in the hands of readers? Read more about my services here and contact me if you’re ready to begin!
