Book awards are like testimonials. The good things other say adds credibility. As a result, awards can make selling books a whole lot easier.
When I self-published "The Good Home Cookbook: More Than 1000 Classic American Recipes" it got named "One of the Year's Best Cookbooks" by Food and Wine Magazine. Then things got even better. I found an agent in NY who landed me a publishing contract.
If you're planning a full-color book there is no limit to the "wow" factor. The more wow the more awards. One of the books I published, "Science Fiction of the 20th Century," won Book of the Year from the Independent Publishers Association. It also won the Champion Printing Award and several others. "Art of Imagination" won The Benjamin Franklin Coffee Table Book of the Year award, which helped secure a huge print run at Costco.
Custom book printing doesn't have to be expensive either. There are many low-hanging fruit that self-publishers tend to overlook that would help their books to standout.
As a publisher, I try to anticipate book awards. They're part of the plan. I think most books should have awards in mind from the start. At the very least, being aware of potential awards will make a better book.
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