Grumpy old man is grumpy, but also very smart and pragmatic about publishing as a business. This is a great discussion, and I love that he's talking numbers, here.
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Why Events are Valuable
- Thread starter A. E. Lowan
- Start date
pmmg
Myth Weaver
HA! I had seen this one already.
Though, I think if I was to do events like this, I would go just for the education (learning the ropes), and exposure. Making money at them would not be my goal, least not initially. But...Maybe I am just foolish.
Though, I think if I was to do events like this, I would go just for the education (learning the ropes), and exposure. Making money at them would not be my goal, least not initially. But...Maybe I am just foolish.
- Thread starter
- #3
Not foolish at all. We get our best profit margines at our home con. It's Planet Comicon Kansas City, which saw a gate of 90k a few years ago for their 20th year. They took a hit from COVID, but so did everybody.
What we love about going is we make new friends every year, and get to see older friends and a couple of our super fans. For me, that alone is worth the hassle.
Mad Swede
Auror
My publishers rarely do events, mostly because we don't have that many in the Nordic countries. What my publishers do more often is book signings, but even then we don't do that many. I've only got two this autumn.
Prince of Spires
Istar
The big thing he mentioned was, do an event for another reason than wanting to sell books. Selling books is nice and a great way pay for going to the event. But if you're going for the money, the math aint mathing. Going with his math, $200 profit is terrible.
Don't get me wrong, I'd love to earn $200 in profit from my books. But he forgot to value in the cost of his own time (as the publisher, not the author). And $200 for 2 days of work is a bad return on investment. That's something like $12 per hour, which is below minimum wage here in the Netherlands.
Secondary issue is that it isn't scalable. Or at least, it's hard to scale unless you become a much bigger author. What I mean is that if you sell $1100 worth of books in a day at a convention one year, then it's hard to turn that into $2000 the next year or $10.000 the one after. Since you're practically hand-selling, there are only so many people you can talk to in a day after all.
It's great to interact with fans, if that's your thing. Though if you're a small author, chances of running into an actual fan aren't that big.
Don't get me wrong, I'd love to earn $200 in profit from my books. But he forgot to value in the cost of his own time (as the publisher, not the author). And $200 for 2 days of work is a bad return on investment. That's something like $12 per hour, which is below minimum wage here in the Netherlands.
Secondary issue is that it isn't scalable. Or at least, it's hard to scale unless you become a much bigger author. What I mean is that if you sell $1100 worth of books in a day at a convention one year, then it's hard to turn that into $2000 the next year or $10.000 the one after. Since you're practically hand-selling, there are only so many people you can talk to in a day after all.
It's great to interact with fans, if that's your thing. Though if you're a small author, chances of running into an actual fan aren't that big.
Mad Swede
Auror
What's being missed in some of the comments here, and what John Hartness didn't say, is that for most authors all these events are usually done in their own private time. As an author with a publishing contract I don't get paid for the time I spend doing book signings or attending events like conventions or book fairs. My publishers staff do get paid if they are working there, and I may get some or all of my expenses paid, but the time I spend doing these things isn't paid for.
What about the books that get sold I hear you ask? Well, at book signings it is the book store where the signing tales place which order extra books. In this way my publisher sells more copies and the book shop covers their expenses as well as generating other sales. These other sales occur because those who come to signings often buy other books as well, they're not just there for my books. At other events (at least here in Sweden) one of the book store chains will be responsible for books sales and will order books for all the authors and their publishers who will be present at the event. In this way sales go through normal channels and the logistocs of storage and distribution get taken care of.
What about the books that get sold I hear you ask? Well, at book signings it is the book store where the signing tales place which order extra books. In this way my publisher sells more copies and the book shop covers their expenses as well as generating other sales. These other sales occur because those who come to signings often buy other books as well, they're not just there for my books. At other events (at least here in Sweden) one of the book store chains will be responsible for books sales and will order books for all the authors and their publishers who will be present at the event. In this way sales go through normal channels and the logistocs of storage and distribution get taken care of.
pmmg
Myth Weaver
Bumping into a fan at a rando convention would probably make my year. But...I'd also have more chance of bumping into big foot, I fear.
- Thread starter
- #8
That or a Deadpool parade. One of my favorite things about cons. The Deadpools. And they will seemingly at random form up, all of them - and by that I mean 30 or so at the last one I attended, and one Spiderman who hadn't yet dicovered dancers' belts and got Shanghai'd into parading, too. Dude looked like he'd stuffed a squirrel in his britches, so I think his abduction was for the best.
Prince of Spires
Istar
I didn't missed, which was why that for this guy as the publisher, earning $200 in profit was pretty terrible (since he didn't factor in his own time). Yes, it's different as the author, though if you're an indie author, you're both the author and the publisher. And it's still worth considering what your time is worth to you.
I do think book signings are slightly different. For one, part of it is actually about building a relationship with the bookstore, not the reader. It helps if bookstores know your book and who you are. If they like you (and the book), they're more likely to recommend you to a reader asking or just maybe give you a more visible spot in the store (though those often come paid). For another, all those people are specifically there to see you to get their books signed. It's a way to connect specifically with readers and fans and people actually looking to buy books. It's the in-person version of advertising on Amazon.
The cost structure for a book signing in a store is also different. Like you mentioned, the books are just ordered through the regular chain, which removes part of the overhead and workload. The spot is probably free or much cheaper. Inside Sweden, there may be no hotel costs. Which brings the whole cost down to a couple of meals and maybe some gas for your car.
That said, it's still a terrible return on investment. It's one of the few options we have as authors, but that doesn't mean it's a good option.
casval
Minstrel
I've always loved going to events to sell zines, people are much more willing to drop a few bucks on a zine if they have the person who wrote it there to talk to them, and it's a great community-building experience. I would love to do it for a novel too... but not having a car does make it a logistical nightmare. 
It takes a dozen zines to fill the same space as a hardback, and still weigh less too - much easier if you're lugging them around on a bus or train.
It takes a dozen zines to fill the same space as a hardback, and still weigh less too - much easier if you're lugging them around on a bus or train.- Thread starter
- #11
I've always loved going to events to sell zines, people are much more willing to drop a few bucks on a zine if they have the person who wrote it there to talk to them, and it's a great community-building experience. I would love to do it for a novel too... but not having a car does make it a logistical nightmare.
We show no such mercy. lol
casval
Minstrel
Saluting you.We show no such mercy. lol
I'd throw my back out carrying a box of those third books! 
