How to Create a Market Analysis by Nancy I. Sanders

When I submitted the proposal for my newest book, Jane Austen for Kids, I also included a market analysis. A market analysis often helps publishers make the decision to offer a contract. Plan to include one with your next nonfiction submission.
 
Add the wisdom of an owl to your ninja expertise. Whoo-oo-oo knows? A market analysis just might help you land your next contract.
 
THE RESEARCH
List three to seven book titles that could be potential competitors.

1. Amazon is my go-to online bookstore. I explore titles, read pages with the “Look Inside” the book feature, and print out examples to track my research.
2. I conduct a general Google search for keywords and potential titles.
3. I visit my public or college library online sites.
4. I visit my local indie and large bookstores to see what titles on my topic are actually making it into the stores.

 
THE COMPETITION
Look for books that meet these criteria:

1. Books published in the last five years. The exception is a classic that is still going strong.
2. Books published by traditional publishers. The exception is a self-published book selling very well.
3. Books with solid sales. You can check the sales ranking on Amazon, the number of libraries that carry it on Worldcat.org, and the number of copies available at your own library.

 
THE STANDARDS
Most publishers expect to see standard information for each competing book:

• Title of the book
• ISBN number
• Author (and illustrator if it’s a picture book)
• Publisher
• Year published

 
THE MEASUREMENTS
Search online to measure projected interest in your book. For example, if I wanted to write a picture book about a child’s trip to the dentist, I search, “How many children visit the dentist?” An article states 83% of children ages 2-17 went to the dentist in 2013.
 
THE ANALYSIS
Start with a paragraph that measures a specific interest in your topic. Follow with a paragraph about each book you’re featuring. In each paragraph, list standard information about each book, a short summary, and how your manuscript is different.
 
-Nancy I. Sanders is the children’s author of over 100 books including the how-to book for writers, Yes! You Can Learn How to Write Children’s Books, Get Them Published and Build a Successful Writing Career. Visit her website at www.nancyisanders.com.