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Codex-Group © 2014 Proprietary and Confidential 1 Peter Hildick-Smith Codex-Group LLC 16 W. 16 th St. NY, NY 10011 212-255-0405

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Presentation on theme: "Codex-Group © 2014 Proprietary and Confidential 1 Peter Hildick-Smith Codex-Group LLC 16 W. 16 th St. NY, NY 10011 212-255-0405"— Presentation transcript:

1 Codex-Group © 2014 Proprietary and Confidential 1 Peter Hildick-Smith Codex-Group LLC 16 W. 16 th St. NY, NY Digital Book World January 14, 2014 The Author Brand Opportunity

2 Codex-Group © 2014 Proprietary and Confidential 2 2 Three Pillars of Initial New Book Sales Availability Conversion Discovery + Conversion + Availability = New Book Sales Discovery Buyer Target Do I Know the Book Exists? Do I Know the Book Exists? Is the Book Idea Interesting Enough to Buy? Is the Book Available to Buy Whenever, However I Want It? 1 2 3

3 Codex-Group © 2014 Proprietary and Confidential 3 3 Three Pillars of Initial New Book Sales Availability Conversion Book Conversion Driven Most by Author Brand and Book Topic/Message. Discovery Reader Target Is the Book Idea Interesting Enough to Buy? 2 Author Brand Topic/Message

4 Codex-Group © 2014 Proprietary and Confidential 4 Brand Author Defined A Brand Author = 500,000 Fans or More. 500,000 Fans 1% of Frequent Book Buyers 50,000,000 Adult Frequent Book Buyers

5 Codex-Group © 2014 Proprietary and Confidential 5 Why Author Brands Matter

6 Codex-Group © 2014 Proprietary and Confidential 6 Brand Author Bestseller Placement – 1/19/2014 Brand Bestseller List Dominated by Brand Authors.

7 Codex-Group © 2014 Proprietary and Confidential 7 Personal Recommendations Book Topic/Message Favorite Author/Series New Book Purchase Decision Factor Share: Last Book Bought – 11/2013 Most Influential Purchase Decision Factor: Last Book Bought When browsing for new books, which of the following factors influenced your decision most when choosing [your last book bought]? (pick one) Favorite Author or Series Single Biggest Book Purchase Decision Factor. Book Bought Last

8 Codex-Group © 2014 Proprietary and Confidential 8 Recommend Topic/ Message Favorite Author/Series New Book Purchase Decision Factor Share: Last Book Bought – 11/2013 Most Influential Purchase Decision Factor: Last Book Bought When browsing for new books, which of the following factors influenced your decision most when choosing [your last book bought]? (pick one) Favorite Author or Series Dominant Factor in Fiction, Major Potential Force in Narrative Nonfiction. Genre Fiction Literary Fiction Narrative Nonfiction Utility Nonfiction

9 Codex-Group © 2014 Proprietary and Confidential 9 9 Brand Authors Most Purchased in Fiction – Unknowns Often Avoided. Book Buyers Author Opinion BEFORE Discovery – 11/2013 BEFORE you first discovered [the book you bought last] -- what was your overall opinion of its author or series? Very Good/ Favorite Author Not Familiar Author Author Rating BEFORE Book Discovery Genre Fiction Literary Fiction Narrative Nonfiction Utility Nonfiction

10 Codex-Group © 2014 Proprietary and Confidential 10 Author Equity Brand Impact on Book Sales – Purchase Propensity – Fiction Author Brand Equity is Book Sales Multiplier! 15X Not Familiar With Author Author Fan

11 Codex-Group © 2014 Proprietary and Confidential 11 Author Equity Brand Impact on Book Sales – Initial 8 Week Print Unit Sales Author Brand Equity is Book Sales Multiplier! 500X April July

12 Codex-Group © 2014 Proprietary and Confidential 12 Author Fan Sales Contribution: % Book Purchase Demand From Author Fans Fan Contribution: Major Authors Depend on Fans for 50-80% of Sales. Celebrity Biography Y

13 Codex-Group © 2014 Proprietary and Confidential 13 Retail Price Expectation: Impact of Author Brand Strength – 6/2013 Book Buyers Expect to Pay Significant Premium for Their Brand Authors. How much do you normally expect to pay for a new or recently released book by (the author of the book you bought last) -- in each of the following formats? BEFORE you first discovered [the book you bought last] -- what was your overall opinion of that author? Hardcover eBook +66% +37% Unknown Author Brand Author Thriller Authors

14 Codex-Group © 2014 Proprietary and Confidential 14 Author Fan Base vs. Initial 8 Week Unit Sales – Jodi Picoult The Bigger The Fan Base – The Greater The Sales Potential. Author Equity Initial 8 Week Units

15 Codex-Group © 2014 Proprietary and Confidential 15 Making Author Brands Work

16 Codex-Group © 2014 Proprietary and Confidential 16 A Famous Name Is Not Enough. Recognize Name Name Recognition Measurement – U.S. Past Month Book Buyers – 11/2013 Celebrity Biography Y

17 Codex-Group © 2014 Proprietary and Confidential 17 Author Equity is Measurable – Fan Loyalty is The Key. % Book Buyer Fans Author Equity Brand Measurement – U.S. Past Month Book Buyers – 11/2013 Recognize Name

18 Codex-Group © 2014 Proprietary and Confidential 18 Invest in Author Brand Development. Author Equity Matrix: Book Buyer Audience Strength Fan Loyalty Fan Loyalty Platform Size Acquire/Grow Manage Fix Avoid

19 Codex-Group © 2014 Proprietary and Confidential 19 Author Fan Fulfillment: % of Author Fans Who Own/Plan to Buy Book Fan Fulfillment – Does the Book Connect with its Authors Fans? Over Half of Fans Want Book Less Than Half of Fans Want Book Average: 45% Self-Help P Self-Help L

20 Codex-Group © 2014 Proprietary and Confidential 20 Brand Author Fan Fulfillment Impact – Initial 8 Week Unit Sales Miss Your Fans – Miss Your Sales. *Source: BookScan initial 8 week unit sales - 467,000 units - 130,000 units Self-Help P Self-Help L 16% Fan Fulfillment 15% Fan Fulfillment Prior Self-Help Title Prior Self-Help Title

21 Codex-Group © 2014 Proprietary and Confidential 21 Author Brand Sales Impact Multiple Author Brand Sales Growth Avenues. Author Acquisition Fan Fulfillment – Topic & Message Price Premium Category Expansion Marketing Greatest Impact Moderate Impact Relative Sales Impact

22 Codex-Group © 2014 Proprietary and Confidential 22 Author Brand Growth Opportunity

23 Codex-Group © 2014 Proprietary and Confidential 23 Author Brand Growth Opportunity FAN LOYALTY DRIVE SALES: Primary Sales Source SALES MULTIPLIER: #1 Conversion-to-Sales Factor PRICE PREMIUM: Loyal Fans Value Their Authors CONSISTENT BOOK-to-BOOK GROWTH: Fan Fulfillment PARTNER CHALLENGE: Author, Fan, Agent, Editor, Publisher


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