Eight out of every ten products launched in the United Sates are destined to fail.
I recently read this statistic in the book Buyology: Truth and Lies About Why We Buy by Martin Lindstrom. He went on to say:
Roughly 21,000 new brands are introduced worldwide per year, yet history tell us that all but a few of them have vanished from the shelf a year later. In consumer products alone, 52 percent of all new brands, and 75 percent of individual products fail.
That’s a whole lot of products that don’t stand the test of time. In other words, they don’t sell enough for their makers to keep producing them.
Authors, you have the same uphill battle for your books. The average traditionally-published book sells less than 500 copies and the vast majority of indie published books sell less than 200 copies.
There are many factors that help books sell. However, just as a cake won’t rise without baking soda, your book won’t sell without some marketing.
I love this Marketing Bingo board that John Kremer developed. Check it out. Have you done enough marketing to win a bingo on the board?
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