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Love Letters To Bookworms | Liebesbriefe an Bücherwürmer

Global Online Marketing For Modern Publishing Entrepreneurs

Reading time 2 min 38 sec

Hello, my sweet Bookworm!

As we head into September 2020 we’re officially settled into a *new normal* due to the events of the past six month and about to experience a worldwide period of economic decline.

What does that mean for global book publishing, and what does it mean for you?

Frankfurt Book Fair has cancelled its physical, in-person fair last week and will proceed as an entirely virtual, online-only event as scheduled, October 12-18.

There will be no international travel to book fairs for the foreseeable future, mainly because most countries are not getting a handle on the coronavirus, so there are travel bans or mandatory 14-day quarantines.

Most publishers and publishing houses say they embrace the new digital transformation. In my experience (what people tell and write to me) most of the employees feel left alone and not well prepared dealing with new digital tools, the demands of working remotely and the distress to connect with fellow humans in the digital world. (Oh, did I ever mention the loneliness as the dark side of working remotely or from home?)

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Publishers and publishing-related businesses are taking the time to re-evaluate leadership, business models and hiring practices, and they become leaner, more cost-effective and more efficient operations, to survive the economic downturn and be better positioned when the market improves.

Also, many publishers around the globe are rethinking publishing's lack of diversity and representation.

Well-known and established authors are seeing a rise in sales as readers gravitate to the tried and true (as well as commissioning editors and publishers).

Mid-list authors are having a rougher time. Commissioning editors and rights people, driven by main decision-makers like publishers, marketers and shareholders are going over option material with a fine-tooth comb, only looking for the "bigger" books (in terms of money-making) and often passing on subsequent books by authors who haven't broken out yet.

Debut authors will be the most at risk. More digital and creative strategies are needed to make debuts stand out.

Running Licensing Contracts: Still seeing delays in foreign advance payments, royalty statements, royalties and complimentary copies received.

Although approx. 99,99% of payments have come in on time or belated. Only 0,01% try to stretch out their debt on the expenses of authors and business partners. (Major RED FLAG! HERE is my tip on what do instead.)

Foreign Rights Acquisitions: Publishers around the globe are still acquiring — but more reserved altogether.

Big books are going for big money. But the definition of a big book might be narrower and different now.

The Wittmann Agency has closed multiple licensing deals since March — mostly for contract renewals so far. 

Has 2020 woken you up to the fragile nature of your current business path?

Yet the fact that conditions are changing opens up opportunities for resourceful businesses to outsmart larger competitors who, during a downturn, carry on business as usual or are unable to adapt quickly — except to fire employees.

Resourceful entrepreneurs capture the available opportunities. 

The challenge is to be aggressive and imaginative. Entrepreneurs who survive and even prosper during hard times must be able to look beyond the present, to overcome the constraints of tradition, to see the firm from a new perspective, and to do business differently.

If any of the above and the following ring true, and

You're tired of the daily grind?

You're willing to invest in yourself, learn new skills, and turn things around?

You want help to move forward and into action?

you can't afford to miss my Explore & Navigate.

One more...

What if you join me and when you look back on 2020 think to yourself:

"It may have been a crazy time, but it was the push I needed to transform my biz to digital that changed everything."

If you are an entrepreneur, publisher, writer or other creative, you need to stay the course to fuel positive change in the world.

And no matter what, publishers still need books to publish to stay afloat.

With so much ❤️,

xoxo Claudia

 Sharing is caring, help your publishing friends by forwarding this E-Mail to them NOW.

P.P.S. If you didn't catch your digital copy of my MAGAZINE FOR BOOK LOVERS FALL & WINTER 2020, missed to download it or want to dive in again, you can get it right here.


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