When you publish a book, your primary goal is sales. But does a book that doesn’t sell well equate to failure? Not necessarily. While sales numbers matter if your aim is to build a career from book sales, there are many other ways to measure a book's success.
Gross Sales
Gross sales are the most common benchmark for authors. Did you sell copies? Did you make a profit? Publishing is a business, and unless you’re publishing for fun, maximizing sales is crucial. Most publishers offer dashboards to track total sales, orders, and expected royalties, making it easy to gauge success.
If your book sells well and generates substantial royalties, it’s clearly a success. But what if your sales fall short? That doesn’t mean your book is a failure. Let's examine other metrics that can provide a clearer picture of success.
Read-Through Rate
The read-through rate is a critical metric. Are readers who buy your book actually reading it? This is especially important if you have a series. You want readers to engage with your work and move on to subsequent books.
Many readers download books but never read them. While securing that first sale is good, engagement is essential for future purchases. Retaining readers is more cost-effective than acquiring new ones. If a reader enjoys your book and buys the next in the series, their lifetime value increases. Successful self-published authors focus on building a loyal fan base that eagerly anticipates future releases. A low initial sale count with a high read-through rate can lay a solid foundation for your publishing career.
New Leads for Your Business
For nonfiction authors, this metric is particularly important. If you publish to establish authority, your book can enhance your credibility. It may not generate direct sales but can drive new leads to your business.
If your book results in more inquiries about your services, its value goes beyond royalties. This metric is most relevant if you have a separate business tied to your publishing efforts.
Growth of Your Email List
Alongside the read-through rate, track the growth of your email list. Even if your book doesn’t achieve high initial sales, if it directs readers to your sign-up form, it’s still a win.
An email list is a powerful asset. Successful businesses maintain a growing list of engaged readers. If your book consistently adds subscribers to your email list, you can consider it a success. Engaged readers are more likely to buy your future books. Lower initial sales can be acceptable if they lead to higher sales later. If your book connects enough with readers to prompt them to share their email addresses, it’s more successful than you might think.
Conclusion
There are numerous ways to measure a book's success. Treat your publishing efforts as a business; you’re not just selling books—you’re building an audience. Engagement is key.
Even if your book doesn’t sell well initially, it can still be a success. If it prompts readers to sign up for your email list or reach out for business inquiries, it’s achieving more than you realize.
The secret to evaluating your book's success is long-term thinking. Step back from the sales dashboard and focus on broader goals. If you’re writing a series, prioritize the read-through rate over initial sales.
Once you clarify your goals, identify the metrics that matter for your success. Remember, your success is unique. Avoid comparing yourself to others. Set your own benchmarks and expectations to ensure your book succeeds in a way that aligns with your business goals.
This mindset lays the groundwork for lasting success in the publishing industry.
