Kathleen Welton gives presentations, seminars, and workshops on how gratitude, passion, and strategic planning are all practical paths to publishing success.
The following are from events at Chicago Women in Publishing, New York University, and the Publishing University sponsored by IBPA, the Independent Book Publishers Association.
Strategic Planning What lies behind us and what lies before us are small matters compared ~ Ralph Waldo Emerson
How to Be a Publisher, Plan Strategically, and Build Your Company 1. What are your strategic goals?
Vision Mission Purpose Positioning statement Tagline Personality attributes
2. Conduct research on a regular basis
Identify industry trends to uncover opportunities Solicit customer feedback for ideas and process improvements Conduct both formal and informal market research to stay on course
3. Define your audience and market needs
Define your primary and secondary audiences Define your core categories Determine the publishing mix: single titles vs. series, revisions, and annual editions
4. Set program goals and objectives
Establish publication, revenue, and profit targets Ensure a quality publishing program with best practices Include “back up” projects and ideas Plan 3-5 years out Review and update your plans monthly, quarterly, and annually
5. Develop an editorial roadmap
Utilize A/B/C title planning and priorities Create a title planning and tracking worksheet Expand content formats: print, PDF, audio, etc.
6. Identify core sales and distribution channels
Launch books into 3-6 sales channels Create alternative distribution methods with special sales and alliances Continue launch of books 12-18 months after publication into 3-6 additional sales channels
7. Develop dynamic marketing and promotion plans
Build the brand with presence, purpose, and passion Create “mind share” with grassroots activities, publicity, promotion, and a dynamic Web site
Implement strategies and tactics with both internal and external constituents
8. Engage your customers
Set annual goals and expectations Connect with your customers to exceed expectations Reward results and celebrate success with your staff
9. Understand the importance of financials
Integrate profit and loss analysis into the decision-making process Create annual budgets and reforecast revenue expectations Establish benchmarks for: key ratios, sales targets, profit ranges, and growth rates
10. Putting the publishing plan together
Prepare a comprehensive strategic publishing plan Align the publishing strategy and the needs of the market Think beyond the publishing plan to build the publishing list and program Visualize your success
Create a Passion Plan to Sell Your Books and Publishing Program
1. Put the three “Ps” of passion into practice
Purpose Positioning statement Personality attributes
2. Dwell on creativity vs. competition
Research trends to uncover opportunities Solicit customer feedback for ideas and process improvements Record your own observations
3. Plan on reinventing categories
Define your primary and secondary audiences Define your core categories Leverage a passion platform
4. Utilize discipline and intention
Ensure a quality publishing program with best practices Develop resources that deliver superior performance relative to your mission Review and update your plans monthly, quarterly, and annually
5. Simplify processes and procedures
Create a title planning and tracking process: 12-18 months out Establish key priorities for each year Utilize a marketing template for promotion activities
6. Transform business challenges into opportunities
Talk to your customers Conduct surveys Make improvements every month
7. Create a customer connection
Exceed customer expectations Target customers by sales channel Show that you care
8. Determine your biggest contribution
What are you deeply passionate about? What can you be best in the world at? What drives your resource engine?
9. Put your own passion plan into practice
Write it down Celebrate your independence Thank your customers and staff
10. Visualize your success
Sales targets Bestseller lists Make a contribution
The future belongs to those who believe in the beauty of their dreams.~
Tap the College, Professional, and Medical Markets
1: Plan your marketing activities
Create an overall promotion/marketing plan and review it regularly Include phases 1, 2, 3—i.e. pre-launch, launch, post-launch Utilize the five “P”s of marketing: Product, Price, Promotion, Packaging, and Passion
2: Identify the sales channels
Authors Colleges & universities Conventions and meetings Direct mail Email blasts International Libraries Online retailers Trade bookstores Web sites
3: Create a phase 1, 2, and 3 plan
Phase 1: Prioritize 2-3 sales channels for the first few months of publication Phase 2: Target an additional 2-3 sales channels 6 months after publication Phase 3: Maximize remaining sales channels within 6-12 months of publication
4: Look for low-cost, no-cost marketing campaigns
Utilize customer feedback, testimonials, and publicity Take advantage of customer comments, editorial content, etc. on Amazon Bookmarks and customer giveaways Thank You campaigns
5: Execute your marketing tactics
Author questionnaires Key frontlist titles Key backlist titles Branding campaigns Phase 1-3 plans Monthly activity lists
6: Expanding the customer base
Define your primary and secondary audiences Can you expand beyond your target market? Can you target consumers?
7: Hitting the sales forecasts
The annual revenue target Creating reforecasts and benchmark goals Planning for back-up revenue
8: Traditional marketing approaches
Direct mail campaigns College adoptions Professional libraries Attending conventions Single copy sales to individuals Space ads
9: Non-traditional marketing approaches
Email campaigns Web store E-newsletters Google Book Search Trade market including online retailers and international Public libraries Bulk sales Publicity Other Associations AdWords with Google and Yahoo
10: The marketing platform
Create your own marketing platform Update the platform annually Visualize your success
