Tag: Efficiency of Advertising

An advertising Radolfzell (werbung radolfzell)am Bodensee agency noted the findings of a study about the potential influence of advertising on Germany’s book market. Based on group analysis performed by German university researchers who matched a dataset of about 600 fiction books, the results revealed the actual efficiency of advertising in relation to book sales.

Apparently, publishers have been devoting their limited advertising budget to promoting the new books written by the so-called bestselling authors. However, the university researchers were able to establish that the advertisements paid for by publishers in promoting the titles written by authors of bestseller books, have had no significant influence in increasing publishers’ revenues.
Such an approach does not truly optimise the limited advertising budget allocated by publishers to promote the books they released in the market.

That being the case, the study researchers from Hamburg University and University of Groningen, concluded with a recommendation for publishers to shift their advertising spend on books written by lesser known writers who show promise of becoming future bestselling authors. In doing so, publishers will have better chances of increasing their revenues since they will have additional substantial sources of book sales.

Who Exactly is a Bestselling Author

A writer becomes a bestselling author if a published book that he or she has written garnered the highest sales revenue because it has been selling well above all other books released for sale in the general and global markets during a specific period.

Many suggest that another criteria for an author to earn the best-seller recognition is for his or her inclusion in the List of Best Selling Authors published by media industry proponents such as, The Wall Street Journal, The New York Times and USA Today. The contention is that the Bestseller List released by online markets like Amazon, reflect only those that sell well in the different categories of its platform.

Is Book Writing and Publishing a Lucrative Business in Germany?

There is no doubt that Germany is a place where independent writers have high chances of becoming famous and critically-acclaimed, if not best-selling authors. In the global February 2023 report of countries with the most number of publications, Germany ranks Number 10 for releasing mostly new titles and re-editions in the global market.

Yet in terms of book industry revenue, the 2022 Global Publishing Industry report released by the World Intellectual Property Organization (WIPO), shows that Germany ranks second for having earned sales revenue during the year, amounting to US$9.9 billion. The US tops the ranking for having garnered the highest book sales during the year, which amounted to $26.2 billion.