Book Publishing Industry Challenges

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Book Publishing Industry Challenges
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Some of the main book publishing challenges are
as follows

• 1. Keeping your target audience intact- the main
  aim of every author, writer and publisher is to
  sell the book to its target audience. With
  increasing footprints of the readers on the
  digital medium which gives instant access to the
  book has led to a decline in paperback and
  hardcover format books. Thus increasing the book
  publishing challenges.
• 2. Fake reviews and fake ratings- for every
  author or writer, reviews are an essential form
  of feedback about the quality of work. They are
  also a direct connection between the reader
  (consumer) and the writer/author (producer). But
  with digital and social media the fake reviews
  and ratings are getting more and more in numbers.
  According to a report, even amazon has 9 to 40
  fake reviews. So the authenticity of reviews also
  creates additional book publishing challenges.

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• 1. Digital interference the digital decade has
  changed so many things for us around us, in both
  good and bad ways. In the world of books, the
  book publishing industry is facing disruption in
  the way books were published earlier. In the
  digital and social media age books are now
  available as audiobooks, and paperless
  books(ebooks) this has led to decline in
  paperback and hardcover books. Therefore
  affecting the old classic format of the
  publishing industry.
• 2. Cut throat competition the competition is
  fierce on the digital medium, every second you
  can see multiple book promotion ads on Facebook,
  Twitter, Instagram, Amazon, etc. So to lure the
  audience is a mammoth task for publishers and to
  survive this competition, various offers are on
  display including sales, slashed prices, free
  samples, etc. In the long run, this cut throat
  competition leads to smaller profit margins and
  limited revenue.

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• 3. Dynamic nature of consumer consumption as
  human lifestyle is dynamic in nature. So every
  industry has to cope with this situation and this
  shift has led to changing policies of the book
  publishing industry too. Audience shifting to
  audio books, e-books has forced publishers to
  follow digital marketing, optional methods so
  that they can easily reach the audience via these
  mediums for their classic printed books.
• 4. Demographics it plays a crucial role in book
  publishing as the publishers are interested to
  know for whom the book (product) is written, they
  are not much concerned about the book itself.
  Publishers can gather this information through
  advertisers which can give ideas about the income
  segment, purchasing power, age etc This kind of
  information helps the publisher to find its
  target audience.

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How To Save The publishing Industry

• 1. Understand the Consumer demands the core of
  the book publishing industry has to be the reader
  only, as selling directly to the readers will
  earn more profit and a loyal fanbase. Changing
  trends can be easily understood with the previous
  databases publishers and publishing houses have
  with them. Then, according to the demand of the
  consumers (readers), strategizing is done.
• 2. Update the editing and designing section
  although there are various aspects when a
  publishing house is selling a book right from
  designing the promotional strategies and
  marketing key points, still editing and designing
  are very crucial factors for the book. Good
  editing keeps the content crisp and sharp, this
  helps in engaging the readers and a well-designed
  book attracts lots of eyeballs.

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• 3. Keep prices within a good range one trend
  which is on rise is the discount race to garner
  more and more customers by slashing prices. But
  this trend actually in the long run is ruining
  the publishing industry. Also if a book is touted
  as a Must Buy then the reader will not consider
  the price tag for buying the book.
• 4. Sell globally with the increasing
  connectivity in the distribution network, selling
  globally is the new reality. This means a book
  printed and published in one geographical
  territory can be dropped by the local postal
  system, for cheaper and faster distribution.

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