Top Ten Concepts to Consider When Creating Shared Value
Publishers pride themselves on coming up with creative ideas for new titles. Indeed, it is a requisite task for long-term success. But innovation for its own sake is less likely to lead to profitable new content or services (for both you and your customers) than will an inventive concept developed with your potential customers' needs in mind. Here are the Top Ten Concepts to Consider When Creating Shared Value:
- Develop ideas that meet market needs and contribute to profitability
- A first step may be to redefine your mission from that of publishing books to solving readers' problems with your content
- Analyze your business model for consistency in purpose -- does it need re-invention
- Recognize that solving market problems presents simultaneous operational challenges and opportunities for growth (on which will you dwell?)
- Product and service innovations should be scalable
- The result of a creative session is not just an idea, but practical content that when implemented benefits customers and your business.
- The pursuit of shared value must be communicated internally and externally
- Involve your customers, your mastermind colleagues and prospects in creative focus groups to develop concepts and implementation strategies
- Establish milestones to evaluate progress toward optimum mutual benefit creation; consider an exit strategy if execution goes awry
- Seek opportunities for shared value outside your core business (i.e., in special sales or non-bookstore segments)
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."