The Business Book ROI Study offers a wealth of information for nonfiction authors, but these 3 ghostwriting statistics speak to the value of a great ghostwriter.
In the Business Book ROI Study, four author service organizations interviewed “a diverse collection of 350 authors and prospective authors, of which 301 had published a nonfiction book.”
As a nonfiction ghostwriter, these three discoveries stood out to me:
“The median ghostwritten book was four times as profitable as other books [in the study].”
Ghostwritten books published for at least six months earned a median income of $92,500.
Note: That’s not book sales. That’s additional revenue from having a book—the speaking gigs, the consultancies, the classes and workshops, etc. In other words, having a well-crafted ghostwritten book with your name on the cover could generate a median revenue increase for you of $92,500.
The other two major drivers of increased revenue were:
- hiring a book launch PR company
- having a strong revenue strategy before the book releases
Hiring a nonfiction ghostwriter ensures that your book does more than just sit in a warehouse. Done well by a professional, a ghostwritten book is a business-generating calling card that can reach millions for years.
“Authors were mostly satisfied with the services they paid for, including 96% of those who used ghostwriters.”
In this survey, 25 authors reported paying for a ghostwriter, spending between $10,000 to $50,000+. (Ghostwriting costs can far exceed that, as this helpful “Ghostwriting fee spectrum” by Laura Schaefer makes clear.)
As a nonfiction ghostwriter, I was glad to see the high favorability rating. But I would have been keen to know where these authors found their respective ghostwriters, whether through referrals, ghostwriting organizations, or another avenue.
“Ghostwritten books generated a median gross profit of more than $43,500 after 6 months, despite the cost of the ghostwriter.”
As the previous point made clear, ghostwriting can be quite an expense. But the expense is worth it. When the book is written well, you launch well, and you have a clear revenue strategy, there’s little reason why your nonfiction book shouldn’t turn a profit.
Ultimately, these discoveries point to a central truth, which one author who took part in the survey neatly summarized:
“Authors don’t make money on book sales. They make money on what the book makes possible.”
Did any of these findings surprise you?
What else would you like to know about ghostwriting nonfiction?
***
Thank you to Amplify Publishing Group, Gotham Ghostwriters, Smith Publicity, Thought Leadership Leverage, Josh Bernoff, Bill Sherman, and Dr. AJ Marsden for conducting, compiling, and publishing this survey.
Leave a Reply