Traditional Publishing vs Self-Publishing: Pros and Cons

What’s the difference between traditional publishing vs self-publishing? What are the pros and cons of each? Which one is right for you? If you’re currently writing a book, or are about to finish your manuscript, chances are that you’re looking into your publishing options and you have questions. There’s a lot to consider about both forms of publishing. Let me walk you through the pros and cons of traditional publishing vs self-publishing so you can decide which one is best for you.

What is Traditional Publishing?

The traditional or trade publishing industry refers to publishing companies that are run as businesses. They employ publishing staff like publishers, editors, marketers, publicists and sales reps. They acquire, publish, sell and distribute an author’s book via booksellers and retailers.

As an author, you can query some trade publishers directly if they allow unsolicited submissions via their “slush pile.” But often you’ll need to get an agent first who will approach publishers on your behalf. When talking about trade publishers, people tend to think about the big publishing houses like Penguin Random House, Simon & Schuster, Hachette, HarperCollins and Pan Macmillan. But there are so many other publishers of different sizes out there, publishing a whole range of books on different topics.

A book deal typically involves an author being paid an advance by the publisher and a percentage of the royalties of the books sold. If you get an advance of $10,000, you then have to earn more than $10,000 on book sales before you receive any more money. The publisher takes on the responsibilities and costs of publishing, distributing, and marketing your book.

If you ever get a book offer from a ‘publisher’ and they want you to pay them to print and distribute your book, chances are they are a vanity or hybrid publisher masquerading as a traditional publisher. A trade publisher will never make you pay them money to publish your book. While paying a company to publish your book is always an option you can take, make sure you read through the terms and conditions so you know exactly what you are paying for. Is editing, printing, cover design, distribution and marketing included? Research the costs involved. Some self-publishing companies will promise you the world but deliver little. It may be cheaper for you to do it yourself. Check out online forums to see what other authors have to say about a particular company.

So, what are the pros and cons of traditional publishing?

Pros of Traditional Publishing

1. Access to publishing professionals.

I say this as someone who worked in trade publishing for years, everyone from publishers to editors to the sales team are passionate about books. They love working with books and authors. When you work with a traditional publisher, they take care of everything from editing to design to distribution. You’ll still have to contribute to editing and marketing, but you’ll have the support of a team of experienced professionals along the way.

2. Status and prestige.

Nothing says you’ve made it as a writer more than scoring a traditional publishing contract. For many writers, being taken on by a publisher is a validation of their writing ability. It’s a dream for so many writers and something worth working towards no matter how long it takes. If you’re traditionally published, you’re also more likely to be nominated for literary awards and prizes, further increasing your prestige as an author.

3. Getting your book into bookstores.

For many writers, the dream is not only to see their words in print but to see their book in bookstores. No one does this better than traditional publishers. Through their sales team, they can sell books directly to book retailers (bricks and mortar and online), discount department stores and indie bookstore owners. Books are sold nationally or further abroad (in Australia a lot of publishers have Australian and New Zealand offices and sales teams).

This sell-in takes place months before a book is released. For big books and new titles, the marketing team will produce marketing material aimed at getting retailers interested in buying and championing a book. There’s a lot of strategy involved in getting booksellers and retailers to commit to buying a certain quantity of books. And remember that publishers are also competing against other publishers and their new books list in any given month. As a self-published author, you won’t have the same level of access to this vast sales network.

4. Marketing and publicity is done for you.

Traditional publishers have in-house marketing and publicity teams. Marketers will work with the sales team to get your book into bookstores and they will also work on consumer campaigns to help build word of mouth about your book with readers. They use advertising (print, digital, outdoor like bus and shopping centre panels), social media, advance reading copy giveaways, consumer competitions, newsletters and more to reach readers. The amount of marketing done on your book will depend on your book’s marketing budget, print quantity, audience and where it sits on that month’s new release list. Some books get minimal marketing budget but are still marketed in some way – such as in new release catalogues to booksellers or social media posts. You’ll be encouraged to contribute to marketing efforts via your author platform.

The publicity team has close connections to the media, reviewers and influencers. They will pitch your book to journalists and media outlets and look at ways to get you interviews and reviews – all of which help to raise public awareness of your book. You may also attend author events, book signings and be asked to participate in writers’ festivals.

5. Further publishing opportunities.

If your first book sells well, then you’ll probably get an opportunity to publish another book with your publisher. You could end up becoming, if not a bestselling author, at least one who can achieve name and brand recognition. From hardcover to trade paperback, B paperback, ebook and audio books, your book will likely appear in different editions and formats. As a self-published author, your options may be limited to ebook and/or print.

6. Rights and other territories.

As a traditionally published author, your book rights could be sold into other countries, markets and territories, thus increasing your earning potential.

Cons of Traditional Publishing

1. It’s very difficult to get published by a traditional publisher.

Publishers receive thousands of manuscripts a year in their slush piles and the majority of the books they publish come via agents. It can be hard for a new author to compete with already established authors for a spot on the publishing list. But it is possible and it’s always worth trying.

2. You may only earn your advance and that’s it.

Some authors never sell enough copies to see any royalties. You may end up disappointed if you go the traditional publishing road expecting to make lots of money. Royalty rates are usually low and dependent on your contract with your publisher. According to the Australian Society of Authors, the industry-standard royalty has traditionally been 10% of Recommended Retail Price (RRP). But if you’re an experienced author it’s possible to negotiate higher rates. It can be difficult to figure out your earnings, which is another reason why having an agent can be a good thing. But your agent will take a cut as well.

3. Traditional publishing takes a long time.

Once your book has been acquired by a publisher, it could take a year or more before it’s released. Publishers plan their publishing schedules months and years in advance and where your book is placed depends on what else the publisher has on their list. Your book may be pushed out to months that coincide with gift-giving such as Mother’s Day, Father’s Day or Christmas depending on its genre and target audience.

And the publishing process itself takes a long time. You’ll go through the editing process with an editor, then cover design, and then you’ll be asked to help with the marketing and publicity of your book before and after it’s published. The key is to have patience. Trust me, it’s worth the wait. You can always use the time before your book is published to start building your author platform.

But if you really can’t wait to see your book in print, then self-publishing might be the answer for you.

4. Lack of creative control.

When you sign over the rights to your book, you’ll have to give up some of your creative control. Your publisher and editor may have ideas about your book to make it more commercial and marketable that differs from your ideas. You might find yourself having to compromise on editing, cover design, the blurb and how your book is presented to the public. They don’t do this to make your life miserable. They are just in the business of selling books and they know what sells.

5. Little to no marketing budget.

A common criticism of traditional publishers is that they don’t market your book. This is something that a lot of self-published authors bring up on online forums and it’s a bit misleading. Traditional publishers will market your book to some degree as they need to get it into relevant bookstores and retailers. But the overall marketing budget attached to your book depends on its importance on the publisher’s list. Many first-time authors will get marketing dollars spent on their book to help build their profile, but others won’t. It all comes down to how many copies of your book a publisher thinks they can sell. If they think they can sell 100,000 copies then you will likely have a big marketing budget attached to your book to help them achieve this.

But not every book can be big. Some books might only get 500 copies printed because they are on a niche subject and that’s how many books the sales team estimates they can sell to retailers. Also, established bestselling authors tend to get the lion’s share of a marketing budget in any given month because they have a proven track record and publishers know they can sell lots of copies. So, it also depends on what other books are coming out from your publisher in the same month.

But just because your publisher might not be spending a lot on marketing your book, doesn’t mean that you can’t work with them on marketing your book via social and your author platform. You can take the marketing into your own hands with their support.

6. Your book may have a short shelf life.

If your book doesn’t sell within a couple of months, booksellers and retailers will return it to the publisher in large quantities. You only get those few months after your book’s release to make an impact. While you can keep the momentum going with your book marketing activities, be prepared for the fact that your book may only spend a brief time in stores.

What is Self-Publishing?

In this day and age, it has never been easier to self-publish your book and to have total control of it from start to finish. And with getting traditionally published being so difficult, the self-publishing route can be a good alternative for an author who just wants to get their writing out there. But many authors, including traditionally published authors, are choosing self-publishing not as a consolation prize but as their first choice. They want total control of their book and they are prepared to put in the work to make their book a success.

There’s no reason why a self-published book can’t be as good in quality as a traditionally published book if you’re prepared to put in the time, work and effort. Some indie authors have made a livelihood out of writing and publishing their books. They’ve won over readers and have even been able to quit their day jobs. And some self-published authors have achieved so much success that traditional publishers have approached them, begging to publish their books.

But it can be tough to achieve success as a self-published author. According to Bowker, self-publishing grew by 40% in the US in 2018. There are a lot of people doing it and a lot more competition to get your book seen by readers. Not to mention that you’ll be competing against the polished offerings from traditional publishers. Up against these books, many self-published books can look amateurish if care isn’t taken with the blurb and cover design.

So, what are the pros and cons of self-publishing?

Pros of Self-Publishing

1. Total control of your book.

As a self-published author, you can control everything from the editing, to the cover design, marketing and distribution of your book. You can decide what platform to put your book on and what price to charge. You have complete creative freedom from start to finish.

2. A higher percentage of sales.

Whether you print books, produce an ebook, or both, you’ll earn more royalties as a self-published author. But it depends on the platform you use to publish your book. Also, because you can release as many books as you want, the more books you publish, the more potential there is for sales.

3. You make the deadlines.

If you work with a traditional publisher, they will set the deadlines for edits and everything else. This can lead to a lot of stress and pressure. As an indie author, you own your timeline. So, you can work as fast or as slow as you want. But it’s best that you do set yourself a deadline or otherwise you could keep working on your book forever!

4. You can publish more books quickly.

Self-published authors can get their books to market faster than traditionally published authors. Rather than waiting a year for your book to come out with a traditional publisher, you can have it up and ready to go as soon as you finish editing it. If you have follow-up books, traditional publishers often want to wait a year for the next book to come out. As a self-published author, you can control how many books you release and when. If you write fast enough, you could be publishing a book every few months (this is something a lot of romance authors do).

5. You can fulfill your dream of becoming a published author.

Most writers get rejected numerous times when querying agents and traditional publishers. They may never get to see their book in print or share their words with readers. This doesn’t mean their book is unworthy of publication, there’s just so much competition and limited space on publisher’s lists. By self-publishing, you can make your dream of becoming a published author come true.

6. You can attract agents or publishers.

Some indie authors who self-publish and achieve success end up catching the attention of literary agents and traditional publishers – especially if they have a large author platform. They may want to work with you if they see that you have great reviews or many social followers as a ready-made audience takes some of their risk out of publishing your book. But be aware that unless you have amazing sales or a huge author platform, most agents and publishers won’t be interested in your self-published book.

Cons of Self-Publishing

1. You have to pay for everything.

Unlike in traditional publishing, in self-publishing you have to pay for everything. Editing and proofing, printing costs, cover design, marketing and advertising. Many authors will end up losing more money than they earn. Some authors think they can cut corners by editing their book themselves, using a DIY book cover, and spending no money on marketing. But this may be the very reason their book doesn’t sell.

2. You have to do everything yourself.

This is the flip-side to having total control of your book. It means that you have to do your own editing, cover design, printing, marketing and distribution. While this can be fun for some people, other people just want to write without the hassle. Luckily there are a lot of resources out there to help you. Some people may prefer to pay self-publishing companies to handle some of this work. Some prefer to save costs and attempt it all themselves. Or you can work with freelance editors, cover designers and book marketers.

Whatever the case, if you want to produce a quality book you have to put in the work. And if you want to sell your book, you have to build your author platform and prepare to do all your marketing.

3. Distribution can be tough.

The distribution of self-published books (print and ebook) happens mainly online through platforms like Amazon. While you can try to get your book into your local library and bookstore, you won’t be able to access all the places that traditional publishers do. You can pay to reach a wider network. IngramSpark will make your book available through other channels besides Amazon. But your book will be one of many competing with traditionally published books. You will need to use marketing tactics to drive readers to these sites to make a sale.

4. Marketing is all up to you.

Some authors are happy to put their book up on Amazon and do little to no marketing. But their chances of success are slim. Amazon won’t do the marketing for you. It’s up to you to connect with readers and lead them to where they can buy your book. According to Bowker, 1.68 million print and ebooks were self-published in 2018, up from 1.19 million in 2017. And this data doesn’t include ebooks self-published on Amazon’s Kindle Direct Publishing (KDP) platform.

So, if you want to stand out amongst all those books, you have to market your book and yourself. If the idea of marketing is something you hate then you need to consider if self-publishing is right for you.

5. You need to be prolific.

The authors who tend to succeed at self-publishing are the ones who are writing and releasing books regularly. The more books you have out there, the more chances you have of readers discovering you and then buying books from your backlist. If you think you only have one or two books in you, you might be better off using your time to perfect your book and then trying to get a traditional publishing deal. And if you are a prolific writer, your books still need to be great to make readers want to keep buying what you write.

6. There are negative perceptions about self-publishing.

Unfortunately, there can be negative or biased perceptions toward self-published authors. You might find it tough to get book bloggers and reviewers to review your book because you’re not coming through the traditional publishing system. Some self-published books are released with amateurish covers or are riddled with spelling mistakes and other errors which can lead to negative perceptions of indie authors as a whole.

Meanwhile, if you self-publish and then try to get traditionally published with your next book, agents and publishers will only be impressed if you have made a lot of sales. It all comes down to there being no quality control in self-publishing apart from the work you’re prepared to put into your book. Traditional publishers act as gatekeepers by controlling who gets published based on the quality and marketability of their work. But in the end, it all comes down to the readers and what they like. They are the ones who make the book buying decision. If you put in the work, there’s no reason why your book can’t look indistinguishable from a traditionally published book.

7. It can be tough to get any media and reviews.

It’s hard enough for traditionally published authors to get coverage in the mainstream media as more newspapers and magazines fold and literary pages disappear. If you’re a self-published author it can be even tougher – especially if you write fiction. It’s a little bit easier for non-fiction authors or people with an existing public profile. You may be able to get coverage in media related to your industry or do some speaking events.

But don’t despair. Many local newspapers are happy to run a story on a local author, provided you can give them an interesting, newsworthy angle. And you can connect with readers via social media forums and usually find at least a few people willing to read and review your book. It just takes effort and persistence.

8. Fewer sales.

Just because you have written and self-published a book, doesn’t mean people will buy it. There are millions of books online and it can be difficult for your book to be seen. It’s also competing with so many traditionally published books for readers’ attention. Without the support of a publishing house, your book could sink without a trace. But you can work on your author platform and have a marketing plan to help increase sales.

Traditional Publishing vs Self-Publishing: Which one is right for you?

As you can see, there are many pros and cons to traditional publishing vs self-publishing. It’s up to you to decide which one is best for you. It depends on what you want:

• Do you just want to see your words in print and you don’t care about how many sales you make? Then self-publishing may be right for you.
• Do you just want to write and have someone else take care of everything else? Then traditional publishing is the way to go.
• Are you happy to do all the work yourself? Again, self-publishing might be best for you.
• Do you want total creative control of your book and author brand? Then you need to go the self-publishing route.
• Do you want your book to be available for sale as soon as it’s ready? Then self-publishing is the answer.
• Do you want to see your book in bookstores everywhere? Then traditional publishing is the better option.
• Do you want possible critical acclaim and accolades? Choose traditional publishing.

There’s no right or wrong answer. It’s completely your call. You might choose self-publishing only after exhausting the “trying to get traditionally published” route. Or maybe you feel jaded with your traditional publisher and decide to go it alone for your next book. Just take the time to think about it and research your options.