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08.04.17

New Rules for Planning Your Book Marketing Strategy

5 RulesDo you think of the word plan as a document beginning with your mission statement followed by an analysis of your business and a description of your markets, competition, strategies, and tactics? Strictly speaking, this is correct. However, there is another approach to strategic marketing planning if your goal is to create a functional device to help you succeed.

Instead of creating a sequential plan as advocated in traditional marketing practice, simply create a set of rules under which you will operate. This approach does not consider the word plan as a nouna ponderous text usually valued in terms of its weightbut as a verb, a process. The result is a description of how to proceed under various conditions, a set of policies that establish the parameters within which you will operate your business.

The process of planning is dynamic. It gives you the flexibility to recognize and act upon unforeseen opportunities as they arise. There are five categories in which your rules should be explicit, and examples of each are in the chart below. 

CATEGORY

PURPOSE

EXAMPLE

1. Process Rules

How to proceed on a day-to-day basis

Define your company as a

publisher of content to educate and/or entertain children

2. Event Rules

Pursue unforeseen opportunities

as they arise

Evaluate unanticipated opportunities that

allow you to deliver content

3. Ranking Rules

Prioritize the potential opportunities

Allocate your resources to projects based

upon their gross margin, above a certain minimum

4. Timing Rules

Set time limits

Complete all projects within X months

5. Stopping Rules

Know when to quit

Stop all initiatives that do not reach certain sales

and profit goals within Y months after introduction

1. Process rules render many decisions routine. In most cases, you and your staff perform typical daily activities. People make decisions based on prescribed standards.

2. Event rules define the conditions under which you should evaluate opportunities that are not explicitly included among your process rules. In this case, you might create a checklist against which a proposed new title is evaluated. Does the project fit with your existing mission statement? Given the example of creating content to educate or entertain children: Will children learn while having fun? Will parents approve? Does the project maintain high quality standards? Does it stimulate creativity?

Event rules should be applied flexibly. For example, a proposed manuscript could educate and entertain children without stimulating their creativity. If the benefit to your target market outweighs the desire for an exact fit with your rules, you could still consider accepting it. Or you might enhance the manuscript with an element of creativity. The value of this system is in using rules that not only serve as guidelines to keep your attention focused on important matters but also prevent unanticipated, significant opportunities from escaping.

3. Ranking rules help you prioritize resource allocation among competing opportunities. Your publishing schedule may be set for the upcoming year when a potentially profitable opportunity passes the scrutiny of your event checklist. Now the question is how do you allocate your production time and budget? Perhaps you could apportion your budget based on the title’s potential for gross margin. Or, if your mission is to educate children regardless of profitability, you could rank your prospective projects based on their ability to help kids learn. Without some means for ranking them, you might allocate too much time or money to those with less economic or psychic return.

4. Timing rules help synchronize your prioritized projects with emerging opportunities. Here, you might rely on two timing rules. The first could be that your traffic manager must always know the status of a project in relation to its publication date. The second timing rule might be that all titles must be released within 12 months of the start date. These rules will help you shift your focus from perfecting a title to exploiting market opportunities.

5. Stopping rules tell you when to quit. Each title goes through a series of life-cycle stages from introduction to abandonment, and the time comes when it may need to be updated or taken out of print. Digital printing will keep a title on your list longer, but the amount of time devoted to its marketing will diminish or cease. Stopping rules define when this should occur.

Stop thinking of strategic marketing planning as a document. Instead, think of it as a process defining the parameters for the ways in which you do business. This interpretation will help you focus on the daily activities that fulfill your mission statement, and at the same time, be flexible enough to recognize potentially profitable, unanticipated opportunities as they present themselves.

____________________

Brian Jud is the Executive Director of the Association of Publishers for Special Sales and author of How to Make Real Money Selling Books and Beyond the Bookstore.

 

 

 


					
				


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