Perform a Mid-Year Marketing Measurement
June 24, 2013

When a helicopter is at rest, the dials on its dashboard are all askew with arrows pointing in different directions. But when that helicopter is flying straight and level, with no problems, all the arrows are pointing straight up. The pilot can glance at the instrument panel and quickly see if any dials are out of order, indicating that a problem exists. He or she immediately knows when something is wrong without wasting time evaluating that which is working correctly.  

You can apply this same concept to your publishing efforts by setting up a system that quickly points out where marketing problems exist. Once you know what the problem is you can determine its cause and take steps to solve it. At the end of June evaluate your progress toward reaching your goals. This will give you time to make necessary changes to keep you on track to meet your annual objectives.

14 Tips for Increasing the Velocity and Volume of Your Revenue
June 17, 2013

Marketing planning is a tool publishers can use to help them make better decisions during periods of relative uncertainty. It helps them maximize short-term results and build a foundation upon which to grow their future businesses. Underlying this concept are two important considerations. First, planning for rapid and positive cash flow (the velocity of your revenue) is both critical to success and more accurate in the short term. Second, as you reinvest this revenue in your next bevy of titles, you are more likely to increase the amount (volume) of long-term revenue. Here are some suggestions for actions you can take to increase the velocity and volume of your future revenue.

"Surprise Good News" for Cinco Puntos Press
March 26, 2013

The PEN/Faulkner Foundation announced last week the winner of the 2013 PEN/Faulkner Award for Fiction: Benjamin Alire Sáenz received the award for his collection of short fiction, Everything Begins and Ends at the Kentucky Club. The book was published by El Paso-based independent publisher Cinco Puntos Press.

Yesterday, Book Business had a chance to speak with John Byrd, Marketing Director and CFO of the family-run business. He’s had a few days now to absorb the news, celebrate, watch some college basketball, catch a cold, and recover. Now he shares his publishing insights with BB.

How are things playing out since the award was announced?
It’s been real nice. It’s been kinda hectic for us, especially for Ben [author Benjamin Alire Sáenz], who has made a lot of friends in the literary world in the 20 or 30 years he’s been publishing. He’s getting lots of phone calls and congratulations from people.

Feeling Bookish: CEO Ardy Khazaei on the real aims—and real benefits—of the publisher joint venture
March 12, 2013

While it’s odd to think of an organization backed by  Penguin, Hachette and Simon & Schuster as a startup, Bookish, the new book-recommendation and -discovery site, is essentially that. After two years in development under three CEOs, it’s a new site where users can get recommendations based on titles or groups of titles they know they already like and then, in most cases, purchase them. Like the Random House project Book Scout, the idea, on one level, is to facilitate discovery across the industry, for the good of the industry. And while users can discover just about any book, the books they can purchase directly from Bookish are not limited to those published by the companies who footed the bill.

Know Your BNO: Prepare alternative solutions before negotiating a sale
February 25, 2013

When you negotiate a large-quantity book sale, price and delivery are two areas in which you may find yourself at odds with your prospect. When conflict arises, do not become argumentative, but do not let your prospect take advantage of you, either. Take the focus off price and place it on non-price issues. Focus on variables where your prospect’s interests and yours have more in common. Find and agree upon the best package of product, terms and service that most increases the value for your prospect without sacrificing your needs. Before you enter a negotiation, consider alternatives for each issue that might arise.

Identity Publishing: A new way of looking at how publishers create and build brands
February 7, 2013

Used to be, if a friend recommended a book, my first question was: “Who published it?” This question was usually met with a blank look and a shrug that said: “who cares?” To me, as a publishing professional, it was important to try to learn the flavor and focus of various imprints. To the reader, this was inconsequential. Except for a few recognizable imprints—the Penguin Classics, the Norton anthologies, Little Golden Books, for example—publishing did not have brands. And that, I always felt, was a mistake.

No More Boomerang Books: Four Tips for Reducing Returns
February 1, 2013

Some publishers experience return rates of 30 percent or more. There are four important things you can do that can help to reduce or eliminate returns.

  1. Take responsibility. Retailers and distributors do not sell books. They display them or fill the pipeline after you have sold them. Recognize that it is up to you to spread the word and get buyers into the stores (if you choose retail distribution) to purchase your books. Then, if your book is good it should remain sold.

BookScout: Speaking with SVP of Digital Marketplace Development Amanda Close about Random House's new discoverability app
January 30, 2013

Last week, following a soft-launch the week prior, Random House marched out BookScout, a Facebook app designed to link readers with books they'll like but might not have discovered on their own.

We asked Amanda Close, Senior Vice President, Digital Marketplace Development at Random House, to take us through the steps of getting an app like BookScout into the world, and how it plans to hone it going forward.

Amazon Reviews and The Wisdom of the Mob
January 23, 2013

It’s official. The old trope “There’s no such thing as bad press” can be retired. For good.

Witness the campaign against Randall Sullivan’s Michael Jackson bio Untouchable: The Strange Life and Tragic Death of Michael Jackson. As reported in The New York Times, Sullivan’s book focuses on the superstar’s last years and, despite being characterized as a generally sympathetic look at Jackson, has come under siege by a group of fans who take issue with some of the book’s statements. And so they launched a flotilla of mostly anonymous one-star reviews seemingly aimed at not just discrediting the book, but killing it.

Five New Year's Resolutions for Book Marketers
January 15, 2013

While you are planning your New Year’s Resolutions why not consider some that can help you sell more books? Here are a few that you might consider.

1) I will regularly plan my work before taking action, and then assess the results of my efforts. Book marketing can be as simple as PIE if you Prepare before Implementing your plan. Then Evaluate your progress and make necessary changes. If you missed my December webinar about planning, the recording of How to Create a Functional Marketing Plan for 2013 is at www.premiumbookcompany.com/private/Planningfor2013.wmv