As you know from Monday’s post, the New York Times recently published an article that stated that the publishing industry does not devote as many resources to market research as other industries, and implicitly connected this to the fact that there is an incredible amount of uncertainty and guesswork in publishing. So this got me to thinking (watch out). Let’s say the publishing industry DID do extensive market research and reader surveys and the like. What do you think they should research?
Please forgive me for a moment as I speak in the second person.
You’re the CEO of a large publishing company (congrats, btw). Your company spends a great deal of money on advances for a whole bunch of books, but at the end of the day no one really knows what makes a book a bestseller. You have a young whippersnapper researching/analysis team and a substantial budget. Your goal is to remove as much uncertainty and guesswork from the publishing process as possible and, of course, increase profits.
What do you tell your young whippersnapper researching/analysis team to do?