Book Marketing - Are Book Signings Worth While?

In these days when an estimated 100,000 new books are being published each month all authors, even those with established careers let alone we self-published ones, eagerly seek ways of promoting our works.  Book signings are seen by many as one of the tools we may use to this end.  But do they really work?  Do they result in extended readerships and fans?  Are they worth all the effort, and in some cases, cost?   I posed the question in a variety of forums.  The following reflects a combination of my own and others opinions and experiences.
Location: The most obvious choice would be bookshops followed by book fairs, cafes, libraries and reader groups.  Basically somewhere that readers are likely to congregate.  I was interested in one author who has, with some success, also held book signings in charity shops.
Publicising: Posters, handouts, local press and word-of-mouth.  Of course social media may also be utilized by those who have an established readership or following.
Cost: Books; need to ensure there are enough copies to hand.  Publicity, as mentioned above; posters, press adverts (unless fortunate enough to have an editor who likes to promote local events), handouts etc.  May also be helpful to have book marks and business cards to hand.  Catering; some events require the provision of drinks and snacks (the author is, in most cases, expected to bear the cost of such).  Donations e.g. where the event is in somewhere like a charity shop.  Transport.
Event: Should you hold an individual event or a combined one?  For example: a signing at a book fair would naturally mean the opportunity is shared with other authors.  Some books shops would also prefer an event that includes multiple authors.  Of course I am not here alluding to with well know, established reputations.  My concern is with us less or totally unknown indie authors.  I do not think there is any strong feeling either way.  A combined event would mean any general costs are shared.  However, those who have participated in these have stated they sell less books owing to the multiple choices open to attendees.  Some have even stated they end up buying more books than they sell.  Not a bad thing in itself as it has the effect of authors supporting authors.  There is more so I will come back to the concept of ‘event’ in a moment.
Motivation: To sell more books?  Well yes that must be the underlying motivation.  However, I was interested to note several said they held book signings because they enjoyed them.  They delight in meeting new people and in interacting with them.  Of course the opportunity to gain more publicity must also be a factor.  Nevertheless, for many authors this public exposure is in fact a problem because many tend to be quiet introverts.  They may cope with sitting at a table and simply signing copies of their book(s) but please see the following paragraph.
Method: Traditionally a book signing is envisioned as the author sitting at a table while readers queue to obtain their signature on a purchased copy of their book(s).  However, it appears this method is no longer favoured for the average author.  Again, if the author is famous or at least well know, it seems acceptable but not for the rest of us.  So what is required from a book singing these days?  I said I would come back the concept of ‘event’ and this is where I do so.
In many, if not most, cases the organisation hosting the event, be it a bookshop, café etc. will want to know what is in it for them.  Hosting an event must naturally cause some disturbance to their normal routine.  The majority will want to know if the event is going to bring them anymore business.  We live in a commercial world and profits are constantly at the fore of a business’s considerations.  I would imagine even libraries will wish to assess whether the disruption would be worth their while.
To this end some have clearly stated that the best book signings they have held are when:
There is the opportunity to read excerpts from their book(s).They have the opportunity to speak to the audience.There is interaction e.g. question and answer scenarios.  One reader mentioned how an author whose event she attended had a quick wit and had the audience laughing most of the time.Part of their tales are acted out.  One author got acting students from their local college to do this.
The host would see these as attracting more customers and consequently, as an aside, more business for them
Who goes to a book signing?
Friends and relatives of the author.  Some went so far as to state these were the only people who had specifically attended.Readers who enjoy the author’s book(s).  Of course this depends upon how convenient it is for them to get to the location.Readers who like to take an interest in books generally.  Such was the one mentioned above who found the author entertaining.Those who happen to be browsing in the location (bookshop, book fair, library etc.) or who are enjoying a coffee in the café etc.  Whether these may strictly be referred to as attending is immaterial.  The fact they take an interest is what matters.  And if they buy a book and perhaps tell their friends then it can only be a good thing.
Bearing in mind the last point above; some have suggested it worthwhile to have something to give to those who happen to be in the location but not specifically to attend the event or buy a book.  Something meaningful that will remind them of who and what they saw.  What this should consist of must be down to the individual author and their budget.  Perhaps a simple bookmark would be sufficient or perhaps, for those with the resources, a small gift bag of some sort.  Whatever it is, it would have to be a free item.
We should bear in mind what some have said about the commitment required in holding a book signing.  How these are time consuming events.  First, there is getting businesses to hold the event.  Second, pre-planning, publicity material creation, advertising etc.  Third, organising the catering (where refreshments are to be provided).  Fourth and last, attending the event where perhaps they will stand around for the whole period without any interest being shown.
Overall how successful are book signings?  Many, I would go as far as to say the majority, say these events do not usually result in many sells; at the event or subsequently.  There is the occasional exception.  One author stated they made between $200 and $500 at each event but this figure did include speaking fees.  Most found they only sold between 3/4 - 8/10 books at any one event.  And as mentioned above, when the event is shared, they hardly sold any.
So, why hold a book signing?  They create the opportunity to:
publicise the book(s);hopefully, sell a few;interact with established and potential readers;fuel word-of mouth recommendations.
I must make clear I have never held such an event for my own books and never will be able to do so.  As much as I would like the opportunity I, for the protection of others, have to retain anonymity.  My books both autobiographical and fictional relate the acts of many people.  Though some may deserve reprisal I do not wish to be responsible for them, their dependents or their friends suffering such.  I have suffered enough in my own life to wish to perpetuate such behaviour. Neither do I wish them or my own family to endure embarrassment or ridicule.