Three Levels of Need-Based Strategy
Publishers that correctly match their marketing strategy to their financial objectives perform better than those that do not. But most people continue to use traditional approaches even when they no longer maximize revenue. See if it is time to set new strategies for your business by answering the question, “How satisfied are you with your current revenue and profitability?” The answer gives rise to three different marketing styles:
- If satisfied, continue what you are currently doing.
- If dissatisfied and in search of additional revenue, without making major changes. In this case try to implement an adaptive strategy. For example, you might continue selling through bookstores, but also seek sales through other retailers. Marketing to these buyers is similar to what you are currently doing: you sell through a distribution network, books are returnable and you are paid in 90 – 120 days.
- Publishers who are very dissatisfied with current revenue could implement a visionary strategy. Here you seek additional sales to buyers in corporations, associations and in other non-retail segments. There is no distribution system in place, so you must do the selling yourself or find a sales agent to sell for you (example is email@example.com). However, most sales are in large, non-returnable quantities and you may be paid in 30 days.
Brian Jud is an author, book-marketing consultant, seminar leader, television host and president of Premium Book Company, which sells books to non-bookstore buyers on a non-returnable, commission-only basis and conducts on-site training for publishers' sales forces.
Brian is the author of "How to Make Real Money Selling Books (Without Worrying About Returns)," a do-it-yourself guide to selling books to non-bookstore buyers in large quantities, with no returns. He has written many articles about book publishing and marketing, is the author of the eight e-booklets with "Proven Tips for Publishing Success," and creator of the series of "Book Marketing Wizards." He is also the editor of the bi-weekly newsletter, "Book Marketing Matters."
Brian is the host of the television series "The Book Authority" and has aired over 650 shows. In addition, he is the author, narrator and producer of the media-training video program "You're On The Air."