In the second installation of 15 Tips for Negotiating Large, Non-returnable Book Sales, I discussed asking appropriate questions, listening carefully to the person on the other side of the negotiating table, and then moving ahead based on this new information. In the final installation of tips, I will provide you the guidance you need to close the deal on good terms for both parties.
Brian Jud, author of How to Make Real Money Selling Books, provides the second installment of his tips for negotiating large, non-returnable sales of books. This installment focuses on the specific strategy publishers should implement at the negotiating table.
Negotiating a large sale of your books with a professional corporate buyer is not easy, particularly when you are not experienced at dealing with them. The 15 tips described over the next three blog entries will help you navigate the variety of personalities and circumstances with which you will have to deal, now that you have made the transition from publisher to consultant.
Who is your customer? Are you sure?
Your first response is probably, "That is a pretty silly question." Of course, your customer is the person who buys your books. But if you interpret the question differently, your answer could have significant impact on your business future, since it determines your business model and where you will invest your resources.
Based on my 25 years as a participant in, and consultant to, the publishing industry, I estimate that more than 90% of independent publishers seek sales only through retail buyers (primarily bookstores), both bricks and clicks. If you are in that category, you are significantly reducing your ability to reach and sustain profitable growth.
Once the decision is made to conduct a promotional campaign, the process to find the best item begins by talking with potential suppliers (coffee mugs, apparel, hats, books) for their ideas and prices. Once the buyers have reduced the list to a final few, they may ask the finalists to offer something more. Those not familiar with the negotiation process usually offer a price concession, and thereby lose the sale. Here are Ten Tips for Choosing a Tiebreaker and Closing More Sales.
I recently signed up for a similar model from Oyster: $9.95 per month provides unlimited access to Oyster's 100,000+ ebook catalog. I'm sure some of these books are part of the Kindle Owners' Lending Library, so why would I pay an additional $9.95/month for Oyster?
One (hyphenated) word: All-you-can-read.
Rob Johnson is the founder and director at Research Consulting Limited and former head of research operations at the University of Nottingham. He will be leading a free webinar Open Access: The Journey So Far with the Copyright Clearance Center reviewing the progress of the OA movement and its future.
Traditional thinking has a powerful undertow. Well-meaning friends, colleagues or even family members may discourage you from "rocking the boat." But in today's rapidly changing marketplace, holding steady really means falling behind. Move, evaluate, adapt, strategize and move again. Act like a professional boxer as you bob and weave, looking for weak points in your adversaries' strategies on which to launch your competitive attack.
As we move forward into the ever-changing digital content world, publishers have to ask themselves what type of subscription model will dominate in the future. Publishers are used to the simple individual model, where a consumer buys access for a single title (e.g., newspaper or magazine).
