We as authors might think every book signing opportunity is great. Sure, they’re fun and a great opportunity to catch up wth our peers. But maybe we need to ask ourselves a few questions about the why and the how much before we accept offers in this current climate.
Before anyone reaches for the pitchforks, I’m not saying book signings are bad. Quite the opposite. Book signings can be fantastic opportunities to meet readers, build your newsletter, increase visibility, network with other authors and sell books. However, we’re also running businesses, and I think that means we need to look at signings with a business mindset rather than simply getting excited because we’ve been accepted.
One of the biggest mistakes I see is authors focusing only on the table fee. Let’s say a signing costs $560. That’s not your actual investment. You might spend $300 on fuel and transport, another $500 on accommodation, $200 on meals and $100 on swag, bookmarks or giveaways. Then there are books, merchandise, EFTPOS fees and all the other little expenses that creep in. Suddenly that $560 signing may have become a $1,500-$2,000 investment, and that changes the conversation considerably.
Once you know the true cost, the questions become more interesting. How many people are expected through the door? Are they readers of your genre? How many are likely to reach your table? Have you attended this event before? Is the audience largely the same each year? How many newsletter subscribers might you gain, and how many future readers could discover your books?
For example, let’s say my total investment is $2,000 and 150 people come through the doors. Before I sell a single book, I’ve effectively spent $13.33 for every attendee at that event.
Now let’s say I sell 10 books at $17 each. That’s $170 in sales, which changes the equation slightly. Then I gather 30 newsletter subscribers. Some of those subscribers may go on to buy books later. Some may join my reader group. Some may recommend my books to friends. Suddenly the value of that event starts shifting again.
The point isn’t that any of these figures are right or wrong. It’s that ROI isn’t a single number. It’s a series of variables that change depending on sales, newsletter growth, repeat readers, referrals and future opportunities. Understanding the true cost of attendance is just as important as understanding the potential benefits.
A signing with 150 attendees might be a poor investment if you’ve attended it several times and most visitors already know who you are. The same signing in a new location might be an excellent investment because you’re reaching an entirely new audience. Likewise, an event that attracts readers of your genre may perform far better than a larger event where your ideal audience is largely absent.
I also think we need to look honestly at the author mix. Many signings are filled with enthusiastic new authors who have one book, two books or a debut release on the way. There is absolutely nothing wrong with that. We all welcome new authors because there’s a true buzz of excitement about them and every established author started somewhere. However, readers attend events for a variety of reasons, and the balance between emerging and established authors can influence both attendance and audience reach. A successful event needs readers through the door, not just authors behind tables.
Another factor that can’t be ignored is the current economic climate. Readers are making careful decisions about where they spend their money and many are becoming more selective about discretionary purchases, including books. That doesn’t mean readers have stopped buying books. Many will still happily purchase from authors they know and love. It does mean, however, that every dollar is being weighed more carefully than it may have been a few years ago.
The same applies to authors. A $1,500-$2,000 investment in a signing may be a minor marketing expense for one author and a significant financial commitment for another. Neither approach is wrong. They’re simply different business realities.
Which is why I believe authors need to assess signings strategically rather than emotionally. Being accepted to an event feels wonderful, especially when you’re a newer author. I remember that excitement myself. But being accepted to an event and that event being the right fit for your business are not always the same thing.
The goal isn’t simply to attend book signings. The goal is to attend the right book signings.
As authors, I think we sometimes focus on whether we can attend an event rather than whether we should. The better question is whether that event aligns with your goals, your readers, your budget and your stage of your author career.
Book signings aren’t good or bad. They’re investments. And like any investment, they need to be evaluated against the return you’re realistically likely to achieve.
How do you evaluate the ROI of a book signing?
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