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pBooks to eBooks Creating Digital Reading © 2009 Dan Poynter   Mark Coker Dan Poynter’s
66 lbs & 26” of Shelf Space 30 kg & 66 cm S: Someone printed out the whole thing?
Congratulations on <ul><li>Attending the Publishing University </li></ul><ul><li>Deciding to wring more value out of your ...
Poll <ul><li>How many have a </li></ul><ul><ul><li>Kindle? </li></ul></ul><ul><ul><li>Sony Reader? </li></ul></ul><ul><ul>...
Chapter Fourteen Provide a Choice of Format 9 editions of the same Work
My History <ul><li>Selling downloadable documents since 1996 </li></ul><ul><li>Speaking on eBook since early 1990s </li></...
pBook Must Come First <ul><li>For credibility </li></ul><ul><li>For promotion </li></ul><ul><ul><li>Reviews </li></ul></ul...
Who Reads eBooks? <ul><li>People on the move </li></ul><ul><ul><li>Portable </li></ul></ul><ul><ul><li>Less weight & volum...
Why eBooks? <ul><li>Less expensive  </li></ul><ul><ul><li>No typesetting </li></ul></ul><ul><ul><li>No printing </li></ul>...
Think Globally <ul><li>The World is your potential market </li></ul><ul><ul><li>We are selling information—not hard goods ...
50,000 Reading Devices <ul><li>Amazon Kindle books to iPhone.  </li></ul><ul><ul><li>500,000 Kindles. 38 million iPhones a...
Content <ul><li>Amazon Kindle books to iPhone.  </li></ul><ul><ul><li>275,000 current eBook titles </li></ul></ul><ul><li>...
Who is Taking a Piece of the Action? Buyer  Discount  Nets   Publisher Retains  Nets Cutting out the gatekeepers in the mi...
How are eBooks Selling?
Digital Rights Management What  Needs  Protection? <ul><li>Entertainment Information  </li></ul><ul><li>Music Fiction Nonf...
Pricing Your Book <ul><li>Pricing pBooks  </li></ul><ul><ul><li>Top-down: Additional method. </li></ul></ul><ul><ul><ul><l...
eBook Readers Amazon Kindle  Sony Reader
Read Books on Your iPhone <ul><li>See the video demo at  http://www.fictionwise.com/help/iphonefaq.htm   </li></ul>
eBook Reader: Pocket PC <ul><li>Stores 10,000+ books </li></ul><ul><li>Text is one Newspaper-Column Wide </li></ul><ul><ul...
1. Write Your Book <ul><li>MS-Word </li></ul>
2. Convert to Various eBook Formats <ul><li>Smashwords.com  </li></ul><ul><ul><li>(Actually a Publishing Platform & Online...
More Converters <ul><li>Amazon.com </li></ul><ul><li>ElectronicAndDatabasePub.com </li></ul><ul><li>ReadHowYouWant.com </l...
DIY Conversion Programs <ul><li>DropBook </li></ul><ul><li>Blackman’s eBook Converter </li></ul><ul><li>FeedBooks.com </li...
3. Submit <ul><li>Smashwords.com  </li></ul><ul><li>LightningSource.com </li></ul><ul><li>Amazon.com </li></ul><ul><li>B&N...
4. Sell <ul><li>Downloading from your own site is not recommended </li></ul><ul><ul><li>They handle the order processing <...
Unique ISBN for Each “Edition” Get a Block of 100 ISBNs http://www.ISBN.org
Introducing Mark Coker
Books are precious <ul><li>Receptacles for capturing, sharing and immortalizing  </li></ul><ul><ul><li>knowledge </li></ul...
Are books endangered? <ul><li>Print books are too expensive </li></ul><ul><li>Books face increased competition from altern...
Will Ebooks Replace Print Books?
eBooks will save publishing Image credit: movie poster for “Smiley Face,” directed by Gregg Araki http://www.imdb.com/vide...
Ebooks are similar to print books and stone tablets <ul><li>Each offers lovingly prepared packaged units of words </li></u...
eBooks failed in the late 1990s, left for dead <ul><li>Paper reading vastly superior to screen reading </li></ul><ul><li>O...
Wholesale Ebook Revenues Surpass $100 million Data:  AAP http://www.publishers.org/documents/S12008Final.pdf 58% compound ...
Annual growth rates, p- & e- Data:  AAP http://www.publishers.org/documents/S12008Final.pdf
Monthly growth, y-o-y eBook vs. overall market Data:  AAP http://www.publishers.org/
Do eBooks Really Matter? $113,220,000 (ebooks)  $24,225,025,000 (all books) = 0.467% AAP sales data 2008
Do eBooks Really Matter? = 0.6% Source:  2008 Bowker PubTrack Consumer survey of book-buying behavior
Yes eBooks Matter! Q1 2009 = 2.4% Up from 0.6% for all of 2008 Source:  Bowker's PubTrack Consumer survey of book-buying b...
Stats understate results of early ebook participants <ul><li>Build it and they will come </li></ul><ul><ul><li>For books a...
Amazon May 2009:  eBooks 35% of pBooks Source:  http://www.businessinsider.com/henry-blodget-kindle-sales-now-a-shocking-3...
Why ebooks are hot <ul><li>Screen reading (almost) rivals paper </li></ul><ul><li>Amazon + Oprah </li></ul><ul><li>iPhone ...
Why eBooks will become  more  popular than paper <ul><li>Ebooks will offer superior reading experience </li></ul><ul><ul><...
eBook opportunity for publishers <ul><li>Publishers become more important </li></ul><ul><ul><li>curators of content </li><...
How eBooks will impact book supply chain for publishers printer P-publisher Shipper/w/d customer bookseller E-publisher cu...
Winners and losers in new ebook supply chain <ul><li>Winners </li></ul><ul><ul><li>Publishers and authors! </li></ul></ul>...
Amazon eats lunch of big box bookstores 10 year percentage change in stock price, Amazon, B&N, Borders
How the market values Borders, B&N, Amazon <ul><li>Market caps </li></ul><ul><ul><li>Borders:  $130 million </li></ul></ul...
Amazon positioned to control ebook market <ul><li>Power over publishers </li></ul><ul><ul><li>Devicemaker - Kindle </li></...
Survival strategy for independent publishers <ul><li>Work with Amazon </li></ul><ul><li>Develop alternative channels </li>...
Publishers in the software business now <ul><li>eBooks = software </li></ul><ul><ul><li>selling digital bits </li></ul></u...
Why Multi-Format Matters
How to do eBooks right <ul><li>New thinking required </li></ul><ul><ul><li>ebooks consumed differently than print books </...
Ebook pricing <ul><li>Rethink fixation on list price and “revenues” </li></ul><ul><ul><li>Profit matters more </li></ul></...
The power (and danger) of FREE <ul><li>FREE as a strategy for sampling, seeding and audience building </li></ul><ul><ul><l...
Ebook marketing models <ul><li>Go viral with social media marketing </li></ul><ul><ul><li>community reviews (Librarything,...
Ebook sampling <ul><li>Sampling, seeding, audience building </li></ul><ul><ul><li>percentage sampling </li></ul></ul><ul><...
Ebooks selling models <ul><li>Multiple selling models possible </li></ul><ul><ul><ul><li>a la carte </li></ul></ul></ul><u...
Final words <ul><li>Develop and implement an ebook strategy now </li></ul><ul><ul><li>late movers face permanent disadvant...
Questions <ul><li>“ Electronic books are not  going  anywhere—they are already here.&quot; </li></ul>4 Is there anything w...
Coming Attractions <ul><li>Luncheon Keynote.  12:00 – 2:00 P.M. Today </li></ul><ul><ul><li>Give the E-Readers What They W...
THE END
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Dan Poynter - Mark Coker Presentation: Print Books to Ebooks

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This presentation was given by Dan Poynter and Mark Coker on May 28, 2009 at the IBPA's Publishing University converence: "Turning Printed Books into Downloadable E-Books:
Creating Digital Reading for Those on the Move" Session description: Once your book is written and ready to be printed, it is time to think about other profit centers. E-books do not have to be printed, inventoried, or shipped. E-books are never returned. You will discover how to prepare the file, convert it into the five popular e-book formats, and submit it to resellers (dealers) such as Amazon.com, Palm, and Yahoo!
Speakers: Dan Poynter, Para Publishing; Mark Coker, Smashwords, Inc.

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Dan Poynter - Mark Coker Presentation: Print Books to Ebooks

  1. 1. pBooks to eBooks Creating Digital Reading © 2009 Dan Poynter Mark Coker Dan Poynter’s
  2. 2. 66 lbs & 26” of Shelf Space 30 kg & 66 cm S: Someone printed out the whole thing?
  3. 3. Congratulations on <ul><li>Attending the Publishing University </li></ul><ul><li>Deciding to wring more value out of your work. </li></ul><ul><ul><li>pBooks to eBooks </li></ul></ul> 
  4. 4. Poll <ul><li>How many have a </li></ul><ul><ul><li>Kindle? </li></ul></ul><ul><ul><li>Sony Reader? </li></ul></ul><ul><ul><li>iPhone? </li></ul></ul><ul><ul><li>PocketPC? </li></ul></ul><ul><ul><li>Other reader? </li></ul></ul><ul><li>How many publish eBooks? </li></ul>Still write letters and buy stamps?
  5. 5. Chapter Fourteen Provide a Choice of Format 9 editions of the same Work
  6. 6. My History <ul><li>Selling downloadable documents since 1996 </li></ul><ul><li>Speaking on eBook since early 1990s </li></ul><ul><li>Reader of eBooks </li></ul><ul><li>eBook author, publisher & reader </li></ul>
  7. 7. pBook Must Come First <ul><li>For credibility </li></ul><ul><li>For promotion </li></ul><ul><ul><li>Reviews </li></ul></ul><ul><ul><li>To opinion molders </li></ul></ul>S: Cape Town
  8. 8. Who Reads eBooks? <ul><li>People on the move </li></ul><ul><ul><li>Portable </li></ul></ul><ul><ul><li>Less weight & volume </li></ul></ul><ul><ul><li>Think outside the (paper) book </li></ul></ul>My travels
  9. 9. Why eBooks? <ul><li>Less expensive </li></ul><ul><ul><li>No typesetting </li></ul></ul><ul><ul><li>No printing </li></ul></ul><ul><ul><li>No inventory </li></ul></ul><ul><ul><li>No wrapping </li></ul></ul><ul><ul><li>No physical shipping </li></ul></ul><ul><li>Quicker to market </li></ul><ul><ul><li>Speed of light </li></ul></ul>S: Spm-2 editions
  10. 10. Think Globally <ul><li>The World is your potential market </li></ul><ul><ul><li>We are selling information—not hard goods </li></ul></ul><ul><ul><li>Distribute via the Internet </li></ul></ul><ul><ul><ul><li>No cost to ship </li></ul></ul></ul><ul><ul><ul><li>No import duty </li></ul></ul></ul><ul><ul><ul><li>No sales taxes </li></ul></ul></ul><ul><ul><ul><li>Instant delivery </li></ul></ul></ul>
  11. 11. 50,000 Reading Devices <ul><li>Amazon Kindle books to iPhone. </li></ul><ul><ul><li>500,000 Kindles. 38 million iPhones and iPOD Touches. </li></ul></ul><ul><li>More hardware is coming. Kindle DX, Apple reader, Plastic Logic eReader, FirstPaper, </li></ul><ul><li>Some reading devices are large enough to replace newspapers and magazines. </li></ul>
  12. 12. Content <ul><li>Amazon Kindle books to iPhone. </li></ul><ul><ul><li>275,000 current eBook titles </li></ul></ul><ul><li>B&N and Fictionwise </li></ul><ul><ul><li>Lots of current titles. Great site. </li></ul></ul><ul><li>Sony and Google </li></ul><ul><ul><li>Out-of-print books </li></ul></ul><ul><ul><li>Available to iPhone </li></ul></ul><ul><ul><li>Must give people what they want to read </li></ul></ul>
  13. 13. Who is Taking a Piece of the Action? Buyer Discount Nets Publisher Retains Nets Cutting out the gatekeepers in the middle Based on Book’s List Price: $19.95 Publisher 45% ($8.98) Publisher 34% ($6.78) Publisher 60% ($11.97) Reader 0% ($19.95) Publisher 100% ($19.95) Bookstore 40% ($7.98) Wholesaler* 55% ($10.97) Distributor* 66% ($13.17)
  14. 14. How are eBooks Selling?
  15. 15. Digital Rights Management What Needs Protection? <ul><li>Entertainment Information </li></ul><ul><li>Music Fiction Nonfiction </li></ul><ul><li>Appeals to many Appeals to some Appeals to few </li></ul><ul><li>Used repeatedly Used Once Kept as reference </li></ul><ul><li>Often shared Occasionally shared Rarely shared </li></ul><ul><li>Not revised Not revised Revisable </li></ul><ul><li>Multitask Single task Single task </li></ul><ul><li>Protection schemes penalize paying customers. Weigh the value. </li></ul><ul><li>Amazon.com provides a locking device </li></ul>
  16. 16. Pricing Your Book <ul><li>Pricing pBooks </li></ul><ul><ul><li>Top-down: Additional method. </li></ul></ul><ul><ul><ul><li>What will the traffic bear? </li></ul></ul></ul><ul><ul><li>Bottom-up: Traditional method. </li></ul></ul><ul><ul><ul><li>8x printing and trucking costs </li></ul></ul></ul><ul><li>(After your initial 500 books) </li></ul><ul><li>Pricing eBooks </li></ul><ul><ul><li>Top-down only ($4-$8) </li></ul></ul><ul><ul><ul><li>No investment in printing, etc. </li></ul></ul></ul>
  17. 17. eBook Readers Amazon Kindle Sony Reader
  18. 18. Read Books on Your iPhone <ul><li>See the video demo at http://www.fictionwise.com/help/iphonefaq.htm </li></ul>
  19. 19. eBook Reader: Pocket PC <ul><li>Stores 10,000+ books </li></ul><ul><li>Text is one Newspaper-Column Wide </li></ul><ul><ul><li>Type size is adjustable </li></ul></ul><ul><li>Address book </li></ul><ul><li>Calendar </li></ul><ul><ul><li>Synchronizes with PC </li></ul></ul><ul><li>Backlighted </li></ul><ul><li>Wireless </li></ul><ul><li>WiFi & Skype </li></ul><ul><li>Stores 3 audiobooks </li></ul><ul><li>Google Maps and GPS Navigator </li></ul>
  20. 20. 1. Write Your Book <ul><li>MS-Word </li></ul>
  21. 21. 2. Convert to Various eBook Formats <ul><li>Smashwords.com </li></ul><ul><ul><li>(Actually a Publishing Platform & Online Store) </li></ul></ul><ul><li>PubDimensions.com </li></ul><ul><li>DetailsPlease.com/eBook </li></ul><ul><li>eChapterOne.com </li></ul><ul><li>codeMantra.com </li></ul><ul><li>eBookApp.com </li></ul><ul><li>IngramDigital.com </li></ul><ul><li>ScrollMotion.com </li></ul><ul><li>Shortcovers.com </li></ul>N: More converters
  22. 22. More Converters <ul><li>Amazon.com </li></ul><ul><li>ElectronicAndDatabasePub.com </li></ul><ul><li>ReadHowYouWant.com </li></ul><ul><li>Texterity.com </li></ul>
  23. 23. DIY Conversion Programs <ul><li>DropBook </li></ul><ul><li>Blackman’s eBook Converter </li></ul><ul><li>FeedBooks.com </li></ul><ul><li>eReader.com </li></ul><ul><li>Stanza.lexcycle.com </li></ul><ul><li>Adobe InDesign </li></ul><ul><li>Calibre </li></ul><ul><li>BookGlutton.com </li></ul>
  24. 24. 3. Submit <ul><li>Smashwords.com </li></ul><ul><li>LightningSource.com </li></ul><ul><li>Amazon.com </li></ul><ul><li>B&N.com </li></ul><ul><ul><li>Fictionwise.com </li></ul></ul><ul><li>BookLocker.com (PDF only) </li></ul>
  25. 25. 4. Sell <ul><li>Downloading from your own site is not recommended </li></ul><ul><ul><li>They handle the order processing </li></ul></ul><ul><ul><li>Dealers have more customers/traffic </li></ul></ul><ul><ul><li>Customer Service expenses </li></ul></ul>
  26. 26. Unique ISBN for Each “Edition” Get a Block of 100 ISBNs http://www.ISBN.org
  27. 27. Introducing Mark Coker
  28. 28. Books are precious <ul><li>Receptacles for capturing, sharing and immortalizing </li></ul><ul><ul><li>knowledge </li></ul></ul><ul><ul><li>culture </li></ul></ul><ul><li>Promote cross-cultural understanding and knowledge sharing </li></ul><ul><li>We must save books </li></ul>
  29. 29. Are books endangered? <ul><li>Print books are too expensive </li></ul><ul><li>Books face increased competition from alternative media </li></ul><ul><li>Overall book industry sales in decline </li></ul><ul><li>Many publishers struggling to survive </li></ul><ul><li>Many talented book trade professionals out of work </li></ul><ul><ul><li>Risk losing bookmaking brain trust? </li></ul></ul>
  30. 30. Will Ebooks Replace Print Books?
  31. 31. eBooks will save publishing Image credit: movie poster for “Smiley Face,” directed by Gregg Araki http://www.imdb.com/video/imdb/vi565313817/
  32. 32. Ebooks are similar to print books and stone tablets <ul><li>Each offers lovingly prepared packaged units of words </li></ul><ul><li>Each delivers words on a substrate medium </li></ul><ul><li>Each represents a different way to enjoy a book </li></ul>
  33. 33. eBooks failed in the late 1990s, left for dead <ul><li>Paper reading vastly superior to screen reading </li></ul><ul><li>Overpriced </li></ul><ul><li>DRM=confusion, frustration </li></ul><ul><li>Limited selection </li></ul><ul><li>… yet the demise of ebooks was greatly exaggerated </li></ul>
  34. 34. Wholesale Ebook Revenues Surpass $100 million Data: AAP http://www.publishers.org/documents/S12008Final.pdf 58% compound annual growth for 6 years vs. 1.6% all books
  35. 35. Annual growth rates, p- & e- Data: AAP http://www.publishers.org/documents/S12008Final.pdf
  36. 36. Monthly growth, y-o-y eBook vs. overall market Data: AAP http://www.publishers.org/
  37. 37. Do eBooks Really Matter? $113,220,000 (ebooks)  $24,225,025,000 (all books) = 0.467% AAP sales data 2008
  38. 38. Do eBooks Really Matter? = 0.6% Source: 2008 Bowker PubTrack Consumer survey of book-buying behavior
  39. 39. Yes eBooks Matter! Q1 2009 = 2.4% Up from 0.6% for all of 2008 Source: Bowker's PubTrack Consumer survey of book-buying behavior
  40. 40. Stats understate results of early ebook participants <ul><li>Build it and they will come </li></ul><ul><ul><li>For books available in both e- & p-, in Feb ‘09 Amazon reported that 10% of sales were ebooks </li></ul></ul>
  41. 41. Amazon May 2009: eBooks 35% of pBooks Source: http://www.businessinsider.com/henry-blodget-kindle-sales-now-a-shocking-35-of-book-sales-when-kindle-version-available-2009-5
  42. 42. Why ebooks are hot <ul><li>Screen reading (almost) rivals paper </li></ul><ul><li>Amazon + Oprah </li></ul><ul><li>iPhone (Stanza 1.8 million users) </li></ul><ul><li>Free books are gateway drug </li></ul><ul><li>Greater content selection </li></ul><ul><li>Prices coming down </li></ul><ul><li>Digital shelves appearing everywhere </li></ul><ul><li>Impulse buying </li></ul><ul><li>Early adopters new evangelists </li></ul><ul><li>DRM on its way out? </li></ul>
  43. 43. Why eBooks will become more popular than paper <ul><li>Ebooks will offer superior reading experience </li></ul><ul><ul><li>Screens will become better than paper </li></ul></ul><ul><ul><li>Changeable font size </li></ul></ul><ul><ul><li>Portable & compact </li></ul></ul><ul><ul><li>Library in the cloud </li></ul></ul><ul><li>eBooks as hubs and spokes within richer, more immersive experiences </li></ul><ul><li>Huge selection </li></ul><ul><li>Ebooks are cheap </li></ul>
  44. 44. eBook opportunity for publishers <ul><li>Publishers become more important </li></ul><ul><ul><li>curators of content </li></ul></ul><ul><li>Digital opens worldwide market </li></ul><ul><li>Lower cost = higher per-unit margin </li></ul><ul><ul><li>lower cost = larger available market </li></ul></ul><ul><ul><li>No inventory </li></ul></ul><ul><ul><li>No product returns </li></ul></ul><ul><ul><li>No shipping </li></ul></ul><ul><li>Digital enables serendipitous discovery </li></ul><ul><ul><li>Digital shelves everywhere </li></ul></ul><ul><ul><li>instant sampling </li></ul></ul><ul><ul><li>impulse purchases </li></ul></ul><ul><li>Supply chain disintermediation </li></ul>
  45. 45. How eBooks will impact book supply chain for publishers printer P-publisher Shipper/w/d customer bookseller E-publisher customer ebookseller E-publisher customer ebookseller E-distributor E-publisher customer E-publisher affiliate ebookseller E-distributor customer
  46. 46. Winners and losers in new ebook supply chain <ul><li>Winners </li></ul><ul><ul><li>Publishers and authors! </li></ul></ul><ul><ul><li>Ebook distributors/e-retailers/digital shelf owners/tool makers </li></ul></ul><ul><ul><li>Readers! </li></ul></ul><ul><ul><li>Ebook reading device makers </li></ul></ul><ul><li>Losers </li></ul><ul><ul><li>Tree growers, tree pulpers, ink/glue/printing press makers, printers, warehousers, truckers, oil producers, box makers, remainderers, </li></ul></ul><ul><ul><li>slow-to-adapt print publishers, print bookstores </li></ul></ul>
  47. 47. Amazon eats lunch of big box bookstores 10 year percentage change in stock price, Amazon, B&N, Borders
  48. 48. How the market values Borders, B&N, Amazon <ul><li>Market caps </li></ul><ul><ul><li>Borders: $130 million </li></ul></ul><ul><ul><li>Barnes & Nobel: $1.2 billion </li></ul></ul><ul><ul><li>Amazon: $32 billion </li></ul></ul><ul><ul><ul><li>AMZN 246X more valuable than Borders, 26X more valuable than B&N </li></ul></ul></ul><ul><li>P/S ratios </li></ul><ul><ul><li>Borders: .04 </li></ul></ul><ul><ul><li>Barnes & Nobel: .24 </li></ul></ul><ul><ul><li>Amazon: 1.62 </li></ul></ul><ul><ul><ul><li>Every AMZN sales dollar 40x more valuable than Borders, 7X more valuable than B&N </li></ul></ul></ul>
  49. 49. Amazon positioned to control ebook market <ul><li>Power over publishers </li></ul><ul><ul><li>Devicemaker - Kindle </li></ul></ul><ul><ul><li>Mobile ebooks - Acquired Lexcycle (Stanza) </li></ul></ul><ul><ul><li>Amazon as publisher - Amazon Encore/Digital Text Platform/Booksurge/CreateSpace </li></ul></ul><ul><ul><li>Amazon as community provider - Amazon.com, Shelfari acquisition </li></ul></ul><ul><ul><li>Amazon audio books - Audible acquisition </li></ul></ul><ul><ul><li>Amazon as after-market aggregator - acquired Abebooks </li></ul></ul><ul><ul><li>Big squeeze - eliminated Kindle books from affiliate program </li></ul></ul><ul><ul><li>Proprietary lock in - Requires their DRM </li></ul></ul>
  50. 50. Survival strategy for independent publishers <ul><li>Work with Amazon </li></ul><ul><li>Develop alternative channels </li></ul><ul><li>Build closer relationship with customers </li></ul><ul><ul><li>direct customers to publisher-friendly e-retailers </li></ul></ul><ul><ul><li>offer incentives for customers to form relationship with you </li></ul></ul><ul><ul><ul><li>coupons for registration data </li></ul></ul></ul><ul><ul><ul><li>exclusive sneak peeks, author events </li></ul></ul></ul><ul><li>Learn to think like a software company </li></ul>
  51. 51. Publishers in the software business now <ul><li>eBooks = software </li></ul><ul><ul><li>selling digital bits </li></ul></ul><ul><ul><ul><li>low cost duplication </li></ul></ul></ul><ul><ul><ul><li>no shipping costs </li></ul></ul></ul><ul><ul><ul><li>no after market </li></ul></ul></ul><ul><ul><ul><li>high profit margins </li></ul></ul></ul><ul><ul><ul><li>different ways to market, price and sell content </li></ul></ul></ul><ul><ul><li>dealing with piracy </li></ul></ul><ul><ul><li>Multi-format is essential (see next slide) </li></ul></ul>
  52. 52. Why Multi-Format Matters
  53. 53. How to do eBooks right <ul><li>New thinking required </li></ul><ul><ul><li>ebooks consumed differently than print books </li></ul></ul><ul><ul><li>liberate text from complex formatting and layout </li></ul></ul><ul><ul><ul><li>don’t try to make e- look like p- </li></ul></ul></ul><ul><li>Straight form narrative works best </li></ul><ul><ul><li>picture books, complex layout, more challenging </li></ul></ul><ul><li>Use DRM-free as competitive advantage </li></ul><ul><ul><li>lead the change, don’t be victimized by it </li></ul></ul><ul><li>Explore new options for pricing, marketing and selling </li></ul>
  54. 54. Ebook pricing <ul><li>Rethink fixation on list price and “revenues” </li></ul><ul><ul><li>Profit matters more </li></ul></ul><ul><li>Simple economics </li></ul><ul><ul><li>High price = limited market </li></ul></ul><ul><ul><li>Lower price = larger market </li></ul></ul><ul><li>Ebooks enable lower prices, higher per-unit profits, larger available markets </li></ul>
  55. 55. The power (and danger) of FREE <ul><li>FREE as a strategy for sampling, seeding and audience building </li></ul><ul><ul><li>Eliminates friction </li></ul></ul><ul><ul><li>Gets buyers closer to your product and brand </li></ul></ul><ul><ul><li>Conversion opportunities </li></ul></ul><ul><ul><li>Builds goodwill </li></ul></ul><ul><li>But don’t go overboard! </li></ul>
  56. 56. Ebook marketing models <ul><li>Go viral with social media marketing </li></ul><ul><ul><li>community reviews (Librarything, Goodreads) </li></ul></ul><ul><ul><li>social networks (Twitter, Facebook, LinkedIn) </li></ul></ul><ul><ul><li>blogs </li></ul></ul><ul><ul><li>give customers tools to do your marketing for you </li></ul></ul><ul><ul><ul><li>widgets (shareable, interactive ads) </li></ul></ul></ul><ul><ul><ul><li>coupons </li></ul></ul></ul><ul><ul><ul><li>sample sharing </li></ul></ul></ul>
  57. 57. Ebook sampling <ul><li>Sampling, seeding, audience building </li></ul><ul><ul><li>percentage sampling </li></ul></ul><ul><ul><ul><li>via online readers </li></ul></ul></ul><ul><ul><ul><li>via file downloads </li></ul></ul></ul><ul><ul><ul><li>make samples shareable </li></ul></ul></ul><ul><ul><li>free books </li></ul></ul>
  58. 58. Ebooks selling models <ul><li>Multiple selling models possible </li></ul><ul><ul><ul><li>a la carte </li></ul></ul></ul><ul><ul><ul><li>buffet </li></ul></ul></ul><ul><ul><ul><li>hors d'oeuvres </li></ul></ul></ul><ul><ul><ul><li>subscription </li></ul></ul></ul><ul><ul><ul><li>Radiohead - pay what you want </li></ul></ul></ul><ul><ul><ul><li>shareware - pay on the honor system </li></ul></ul></ul><ul><ul><ul><li>free? </li></ul></ul></ul>
  59. 59. Final words <ul><li>Develop and implement an ebook strategy now </li></ul><ul><ul><li>late movers face permanent disadvantage </li></ul></ul><ul><ul><li>experiment </li></ul></ul><ul><ul><ul><li>launch quick, iterate frequently </li></ul></ul></ul><ul><ul><li>rethink pricing </li></ul></ul><ul><li>Physical shelves disappearing </li></ul><ul><ul><li>leverage community to build digital shelves everywhere </li></ul></ul><ul><li>Diversify distribution </li></ul><ul><li>Get closer to your customer </li></ul>
  60. 60. Questions <ul><li>“ Electronic books are not going anywhere—they are already here.&quot; </li></ul>4 Is there anything we can clarify for you? Where to find Mark Coker: Web: www.smashwords.com Blog: blog.smashwords.com Twitter: @markcoker Email: [email_address] Where to find Dan Poynter: Web: www.parapub.com Sign up for the FREE Publishing Poynters ezine Twitter: @danpoynter Email: [email_address]
  61. 61. Coming Attractions <ul><li>Luncheon Keynote. 12:00 – 2:00 P.M. Today </li></ul><ul><ul><li>Give the E-Readers What They Want—Content Delivery in a Digital Future </li></ul></ul><ul><ul><li>Presented by </li></ul></ul><ul><ul><li>Mark Coker, Smashwords </li></ul></ul><ul><ul><li>Neelan Choksi, Lexcycle </li></ul></ul><ul><ul><li>Daniel Albohn, Sony </li></ul></ul><ul><ul><li>Tricia Roth, ReadHowYouWant </li></ul></ul>0
  62. 62. THE END

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