268: Strategies for Surpassing “The Magic Number” of Book Sales with Todd Sattersten
Feb 16, 2024
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Publisher Todd Sattersten shares insights on book launches and surpassing sales targets. He discusses the significance of hitting 10,000 to 25,000 copies in the first year, consistent sales strategies, book availability issues, enhancing Amazon book descriptions, and boosting sales through various tactics.
Book launches vary, no blueprint for success. Each book and author unique. Adapt strategies accordingly.
Magic number: 10,000-25,000 copies sold key for book longevity. Conduct surveys, optimize descriptions.
Offer discounts for ebooks, experiment with prices. Consider print on demand. Embrace gradual success process.
Deep dives
The Magic Number for Book Sales
Todd Satterstein shares the findings of his research on book sales and reveals the magic number of copies sold in the first year that significantly increases the chances of long-term success. He emphasizes the importance of hitting the 10,000 copies sold mark, which leads to a higher probability of surpassing 25,000 copies. Todd also suggests conducting surveys to gather feedback from readers and using that information to optimize book descriptions and endorsements. He explores various strategies including ebook campaigns, discounts, and bulk buys to drive sales and improve conversion rates. Finally, he gives permission for authors to let go of ego and embrace a gradual, ongoing approach to promoting their books.
The Power of Surveys and Data-Driven Marketing
Todd encourages authors to conduct surveys among their readers to gain valuable insights and understand their preferences and behaviors. By asking targeted questions about book ownership, readership, and recommendations, authors can gather data that informs their marketing strategies. Todd suggests using the survey data to improve book descriptions, endorsements, and promotional campaigns to align with readers' needs and motivations. He also emphasizes the importance of leveraging data and analytics to drive marketing decisions and optimize conversion rates on platforms like Amazon. Todd highlights the value of personalized communication, such as video messages, to express gratitude and enhance the reader experience.
The Potential of Book Discounts and Print on Demand
Todd discusses the benefits of offering book discounts, particularly for ebooks, to attract more readers and generate momentum. He recommends experimenting with different price points and leveraging platforms like BookBub and Fussy Librarian to promote discounted ebooks. Todd also suggests considering print on demand (POD) options for paperbacks, which helps reduce financial risks and storage needs. He encourages authors to revisit their book content, covers, and descriptions to align with readers' feedback and expectations. Todd suggests adding new content to paperbacks, such as discussion guides or afterwards, to enhance the reader experience and offer additional value.
Maintaining Motivation and Overcoming Challenges
Todd reassures authors that challenges and setbacks are common in the publishing journey. He encourages them to maintain motivation and focus on the goal of helping more readers with their books. Todd emphasizes that the key is consistent action and finding strategies that work, even if they involve small steps each week. He advises authors to embrace the gradual nature of book success and not get discouraged by initial launch numbers. Todd reminds authors to let go of ego and stay open to feedback and data-driven improvements. By staying motivated and continuously refining their marketing approaches, authors can reach more readers and achieve their book's potential.
Unlocking the Full Potential of Books and Readership
Todd highlights the transformative power of books and the joy of reaching readers. He encourages authors to embrace the opportunity to build connections, share valuable knowledge, and create a lasting impact on readers' lives. Todd emphasizes that even if the journey may feel challenging at times, the possibility of helping and inspiring others makes every effort worthwhile. He urges authors to keep pushing forward, exploring new marketing strategies, and finding innovative ways to expand their readership. Ultimately, Todd encourages authors to focus on the value they provide and leverage data and feedback to continuously improve their books and reach more readers across various platforms.
What mysterious ingredients make a book launch successful? What number of first-week and first-year sales truly make a difference to a book’s longevity? What can you do to turn lagging numbers around?
In a flagship illuminating post for the industry, Todd Sattersten, publisher and owner of Bard Press, shared his findings in The Magic Number. In this behind-the-business conversation from October 2023, you’ll hear him generously talk me through how I could help Free Time get there—with a much-needed morale boost at the end.
More About Todd: Todd Sattersten is the publisher and owner of Bard Press, a book publisher that works with authors to create best-selling books in business, personal development and technology. Before Bard Press, Todd served as general manager of IT Revolution and president of business book retailer 800-CEO-READ. He is the author of Every Book Is a Startup and the co-author of The 100 Best Business Books of All Time (Portfolio, 2009). Todd lives in Portland, Oregon with his wife Amy and their three awesome kids.
🌟 3 Key Takeaways
A book launch is a set of activities to engage people and create momentum, and there is no common blueprint for success. “Each book is different—in its approach to a problem and delivery of solution. Each author is different—in what they bring to the launch. And the world itself is different every time you bring a book into the world.”
The Magic Number: The data says is that if you can get into the 10,000 to 25,000 copy range for first year sales, you have a 42% chance of selling more than 25,000 copies in lifetime sales. If you get past that 10K mark, there is a 4 in 10 chance of getting beyond 25K copies sold.
Endorsements should triangulate the reader to think this book is for them. Who is the highest comp author? A practitioner (someone doing the work or even a related recognizable company), a reader who demonstrates utility.
📝 Permission
Put your ego down. Remember, you want your readers to be better, to improve their lives. Our job is to find more people to help, and there are still so many opportunities for that. You don’t actually have to stop promoting the book after it’s launched—there is nobody stopping you!
✅ Do (or Delegate) This Next
Send a survey out to your readers and community, ideally 90 to 120 days after the book comes out. Check out the one Jenny sent here—and please take it if you can at the same time!
