Another Expert Says Amen!

On 7/17/12, I posted the last in a five-part series regarding Community Cookbook trends.  Earlier this week I read an article from a blogger I follow on Twitter which goes into great detail regarding the offers for publishers that are misleading. As general FYI, I am including the link to this post.

I must say that I was delighted to have my research confirmed by a third party with whom I have no connection except as a Twitter follower. Of course, my point remains that these companies are simply technology companies rather than publishing companies and that they deliver exactly what they promise. In the end that means the client pays a lot for very little.

Feel free to call or write with any feedback.

Keeping Up with Today's Trends

It's not great revelation to anyone that the book industry has changed drastically over a very short time period. Publishers are now forced to offer their titles in both printed and electronic formats. Print runs for new books tend to be lower making the cost per book rise. Print on Demand is also a consideration and will possibly become a more integral part of book publishing as technology improves and costs come down.

For these reasons and others, companies that offer support services to self-publishers must adapt. At my company we are aggressively developing publishing programs for cookbook authors that offer lower prices on smaller print runs and flexibility on how we handle the development costs for our Publishers. We are also looking to expand some partnerships in logistical areas which offer the promise of greater distribution numbers in an effort  to get books out of the warehouse and into the hands of consumers.

Nothing ever stays the same but it is really fun staying ahead of the curve. We are adding strategies and publishing solutions for great regional cookbooks that provide a great value proposition for our Publishers. It is our goal to remain the industry leader in the custom publishing by offering the very best value proposition for our clients.

Don't be afraid to challenge your publishing partners by exploring all aspects of a publishing venture before signing a contract. If your vendors are stuck in the past I assure you there are options for companies that have been keeping up with the times.

The Future of Regional Cookbooks - Part 5

I was recently made aware of a self-publishing business model that at first glance seemed very enticing. The concept was to pay a fixed dollar amount ($5,000 and above) for different levels of marketing support to a company. (I will let you research the names, but there are plenty out there.) The company then formats your book and makes it available for purchase online through their store and pays you a royalty for each book sold. Pretty interesting, I thought.

In trying to understand the concept I did some research by actually calling a few of the companies and getting all of their information. In addition, I developed a list of books that they were selling in their store and called or wrote to some of the authors to inquire how satisfied they were. I was very surprised that most told me they were so dissatisfied that they didn't want to even discuss it. This made me really curious, so I dug into the offerings a bit further.

The premise is built on accumulated sales to a "community" of potential buyers provided by the author at ridiculous price points. For example, a typical 64 page softcover or e-book cookbook was priced at $24.95. Realizing that I have been in this business for 30 years and have had many conversations with clients about the retail value of their books, I was shocked. While the value proposition does not require huge sums of investment dollars most authors get $0 return.

I realize that our own offering (as well as other good competitors I know and respect) requires a significantly greater investment and an element of risk, but it comes with a proven track record of authors actually making money and earning profits through their hard work. Through my career I have gone out of my way to speak highly of reputable competitors as it always sounds like sour grapes if one "knocks" the competition. However in this case, I have to say that these are not cookbook publishing companies-they are technology companies that take your money and give you very little in return.

There are so many success stories in the self-publishing world but in each case there is a great book that was produced. Having a technology company run a spell check is not editing. There are many benefits of a well executed self-publishing strategy including having a quality finished book and making a profit but one should be ready to invest time and money to reap the rewards. Taking the least expensive route, is in my opinion, simply inviting failure.

The Future of Regional Cookbooks - Part 3

Electronic publishing is here to stay!  With the advent of the tablet technology and the inexpensive cost of an electronic reader the move away from paperless is inevitable. Today, the most popular titles being published in electronic format are trade novels. I believe this genre will remain the undisputed number one for the foreseeable future. In addition, it makes sense to speculate that educational publishing will be the next big category moving to electronic formatting.

But what about cookbooks?  The trend for the present seems to be that a publisher should offer books in both formats. While some people enjoy the ability to pull a recipe from a book up on their electronic reader, at the store the huge demand for e-cookbooks hasn't hit. However, as today's youth ages and becomes the consumer for e-cookbooks, I believe the demand for e-cookbooks will increase significantly. Having spoken to many individuals since the advent of electronic readers I have heard countless times that today's consumers prefer a printed cookbook.

One big factor is cost. In shopping for electronic cookbooks consumers want more than just the recipes--they want enhanced content in the form of cooking videos which are expensive to develop. In addition to being costly on the front end most feel they shouldn't have to pay as much in retail for an electronic book and therefore profits are slimmer. The business model for electronic cookbooks being highly profitable is not quite there yet.

So, should you convert your existing book over to electronic, or if publishing a new title offer it in e-format? Absolutely. I say this because the cost is insignificant and making it available in whatever format the consumer is considering just makes sense. There will probably come a day when the only printed copies of cookbooks are print on demand; however, we aren't there yet.

What is the Downside of E-Books?

The statistics overwhelmingly support the fact that consumers are buying e-books. This past Christmas season saw a record number of e-readers sold with the introduction of the new Kindle Fire as well as other e-reading devices. And we know that there is now a Chef Stand and Stylus on the market that allows us take our readers into the kitchen and use an e-book without ever touching the tablet.

But you might be thinking, I have a lot of inventory of printed books that I need to sell first. My response is the two are not connected. People that don't have e-readers are not going to buy an e-book but those with e-readers are looking for content to use on their devices. The right strategy is to offer both formats.

There is no downside. It is too early in the game to quote any accurate statistics (even if you can find any; I haven't been able to) regarding how many cookbooks have been purchased in an e-format but that doesn't mean consumers won't buy if they are available. Plus, if your book is on Amazon.com and clearly marked as available in an e-format you target both demographics--those with an e-reader and those without or who just prefer a printed cookbook.

The way I see it you can't go wrong with promoting and offering both formats.

The Changing World of Book Sales

In a simpler time a self-published author or group could approach local book and gift stores with pretty good assurance the store manager would buy the books to resell. The problem with that model today is that few local bookstores exist and the large chain stores require a distributor to buy from. Plus, the chain bookstores are in jeopardy of going by the wayside.

Does this mean success cannot be achieved for the self-publisher? Absolutely not! In fact, a savvy and energetic effort can result in more profits and greater sales than ever before. While there is no magic formula for success there are a few key components necessary for success.

Obviously a GREAT book product is a given in the equation. And while placement in the chain stores is desired there are many opportunities to sell direct through social media marketing. FRP's Cookbook University will devote considerable time to sharing the tools necessary for utilizing the social media phenomenon.

FRP Cookbook University is being held on May 19 and 20, 2011 in Nashville, TN. For more information, visit our website.