Publishing a book is a multistage journey that should be reflected in your budget. Although you can publish your work for free, that’s not a realistic option. Most of your budget will go toward writing and editing costs, but to create a professional publication, you’ll need a few more budget lines. Formatting, design, and marketing affect both your expenses and your sales, so you’ll want to spend strategically here.
Design and Formatting Costs
The content of your book is the most important thing, of course. But how your book looks—the cover, the interior design, the spine—affects your readers’ experiences. A poorly formatted book with small font, tight lines, widows, orphans, rivers, or ladders will leave your readers struggling to get through your book. We want readers to stay focused on your ideas, leave you glowing reviews, and recommend your book to their friends. For that to happen, you must spend either time or money on the design.
Maybe tweaking templates and using free cover images aren’t for you. You can always hire a designer. Templates and formatting tools definitely help with some of the heavy lifting for book design. However, if your book has graphics, tables, graphs, footnotes, or other special formatting needs, going with a pro is a good idea. Again, your designer’s experience level, the turnaround time, and the project scope will affect the cost. You may want an elaborate illustration instead of a stock image. You could request tweaks or multiple rounds of designs. Just remember that complexity increases the price.
Plus, if you want to publish in multiple formats, you’ll need multiple designs. Paperbacks, hardbacks, and e-books all have different requirements to account for the spine and back cover designs. Expect to spend at least $500 on formatting and between $300 and $500 per project for cover art.
Practical Budget Application
When we last saw our example author, Jamie, she’d written a 60,000-word manuscript about her teaching career. She’s gone through the editing and revision stages, and now she’s ready for formatting. Jamie’s book has references and images, so she hires a professional to help with formatting. She’s publishing as both an e-book and a paperback, which means she needs two sets of designs.
Formatting: $1,152
Design: $800
Total design costs: $1,952
Marketing Costs
Unfortunately, books don’t sell themselves. Authors need marketing campaigns to get their books into readers’ hands. Although you can use many free marketing techniques to promote your book, investing funds in some key marketing areas will pay off.
Ads & Reviews
- Trade journal reviews
Yes, trade journals will write reviews for free, but you’re not guaranteed a free review. Reputable fee-for-review services cost between $400 and $600. For a full discussion on trade journals, see my related article.
- Targeted digital ads
Amazon and Facebook both offer free courses on ads. Facebook ads start at $5 per day and go up from there. The key here is to remember your target audience and run a few tests to see which ads are most effective at reaching those readers. That’s right—you have to create multiple test ads and review the analytics. You’ll have to invest both time and money here.
- Pricing promotions
The price reduction itself costs nothing; however, your readers still need to know about the promotion. That’s where the costs come in. Typically, a promotional spot on a discount-book site runs from $15 to $20 per ad.
Independent Spaces
- Author website
Having a dedicated website is a must-have. Sure, you can have a free LinkedIn profile, Twitter account, or Facebook page, but not everyone has those accounts. As different social media platforms rise and fall in popularity, your website remains a stable, consistent place where your readers can get information about you and your book. Companies like Pub Site charge a monthly fee and cater directly to authors who want to design their own site but avoid the stress of building it from scratch. If that’s not your thing, you can also work directly with a freelancer, like Nate Hoffelder, and avoid the monthly subscription charges.
- Mailing lists
Your mailing list is a critical part of your marketing strategy. If you’re looking for a traditional book deal, having a strong, active mailing list is a plus for you. If you’re going the hybrid or self-publishing route, this is a key way to alert your readers with book updates. Like your website, your mailing list is independent of social media platforms. Your information is going directly to your readers. The return on investment for email marketing is $36 for every $1 you spend. It’s worth your investment.
In-person Connections
- Book or trade fairs
Authors have a lot of options when it comes to book or trade fairs. If your book is available, you can rent a booth and sell books directly to attendees. But even if your book isn’t quite ready, don’t pass on this opportunity. Consider a sponsorship for an event related to your book’s topic. If you’re comfortable in front of a crowd, see what the options are for being a keynote speaker or leading a breakout session. Get your name out there as a thought leader, plug your upcoming book, and be ready for pre-order sales.
And if marketing overwhelms you, you can always outsource all or some of these tasks. But be prepared to pay between $50 and $60 an hour for a marketing expert.
Practical Budget Application
Jamie, our example author, realizes that the best way to sell her book is by starting her marketing campaign early. Early on in her writing process, she works with a freelancer to create her website and set up her mailing list. She also uses her social media accounts to alert her network about her work in progress. Once Jamie is finished with the copyedit, she purchases two reviews in trade publications. When her book is available, she offers a pricing promotion on three book websites.
Website: $750
Mailing list: $208
Trade reviews: $1,000
Promotion sites: $60
Total marketing costs: $2,018
Takeaways
The bulk of your budget should go toward editing, but don’t skimp on design or marketing. A clear format and design will keep readers focused on your ideas, and strategic marketing expenses pay for themselves by drawing in readers. In our example, Jamie spent $3,970 on formatting, design, and marketing for her paperback and e-book. That brings her total investment for her book to $10,670. Yes, it’s a big investment, but remember, each author and project are different. Don’t let price tags put you off your goal of publishing a book. Just look at your timeline and remember to budget realistically. Start saving up for your publishing expenses before and while you’re writing to help spread out the costs. And if you’re ready to work with a professional editor, contact me! I’d love to learn more about your project and help make your writing bulletproof.