We’re a little more than halfway through the year. So for fun I looked back at some of the predictions experts were making about publishing trends for 2016. One in particular caught my attention, because it highlights how sales reporting tools can help eBook publishers expand their footprints in international territories.
Back in January, Jane Friedman was asked if she thought publishers' attitudes towards territories would change. Her response was, “I think some publishers would like to do more worldwide releases,” but that “very few publishers have that kind of capability.”
I agree and disagree with her on this point. On the one hand, she’s right. Very few publishers have the capability right now to sell more eBooks in territories. But that doesn’t mean they couldn’t have that capability. Sure, it’s a subtle difference between having the potential to do something and actually doing it, but an important one nonetheless.
The first step in being able to expand your footprint is feeling confident you can do it in the first place. After all, expansion is a big investment of resources. You want to be as sure as possible that it’s going to work out. But, as Friedman rightly points out, “most publishers aren’t going to make that investment upfront before they have some kind of evidence that it’s going to pay off.”
This is where sales reporting software earns its keep. Publishers that have it and are using it know exactly where their books are selling. More importantly, they can look back over time and see in which territories their titles have held steady, increased, declined or gone up and down. In other words, eBook sales reporting software gives publishers exactly the kind of evidence they need to make investments into expanding territories pay off.
Expanding your footprint in territories is great, but once you’ve done that you need to be sure to keep an eye on what’s working, what’s not and figure out ways to improve performance overall. That may sound like a lot of work, but I assure you, it’s not. With sales reporting software, you’ll get daily sales reports that show how well titles are doing. Trying a new promotional effort? You’ll see the impact in matter of days. Need to localize currency? You can do that easily as well (more about why you need to price in local currencies here).
With sales reporting tools, you can also spot growing markets in other territories before the competition does. For example, Preeti Chaturvedi recently made the case that the “ebook market in India is at the cusp of a major revolution.” Whether this is true or not remains to be seen. But with sales reporting tools, publishers can keep a close eye on their sales in India (or start selling there if they haven’t already). If they start to see a significant rise, they’ll know to invest more in that market. If they don’t, they can hold off. Either way, they’ll know what the reality on the ground is, so to speak, and be able to capitalize on it.
You'll hear from us!