Where Are Your Books On The Shelves?
Imagine a large library with so many books that it would make your head spin. The principal predicament that most publishers have is getting their books into the hands of readers. So, where are your books on the shelves? Are you reaching the right readers? What is the return on investment for all your efforts? Each question leads to another. But the underlying point is that most publishers want to sell as many books as they can. In 2017, more publishers are adapting to new forms of marketing to increase the visibility of their books in the market. More importantly, marketing automation is what more publishers should be using to drive their sales.
Let’s take a look at some of the components of marketing automation in the publishing sector.
- Social Media Management – More businesses are under pressure to maximize their ROI initiatives and the publishing industry is no different. So why is it important? It establishes your company’s brand. It drives traffic to your website. Whether it’s Facebook, Twitter or LinkedIn, every social media outlet is equally important. In September 2013, the eight biggest social referrers drove 16.4 percent of traffic to publishers’ sites, according to Shareaholic, which measured traffic across more than 200 sites of varying audience sizes. A year later, that number had nearly doubled, to 29.5 percent. So year on year, publishers are seeing their traffic double due to social media. Both mid-sized and large publishers should be investing more in social media strategies to raise their brand value through these forms of low-cost channels.
- Metadata – Metadata is now seen as the bedrock of any marketing approach to sell more books in the market. Metadata is providing insights to the publishers to achieve their goals. Every piece of information such as title, price, author, category, ISBN number contributes allows publishers to create a repository of important elements essential to their marketing strategy, in a structured and comprehensive format. It will not just sell more books, but increase marketability and improve discoverability of their books.
- In-Book Marketing – Another recent phenomenon in the publishing industry is the concept of In-Book marketing. Essentially, it enables better targeting of your audiences by integrating dynamic book recommendations into new and existing titles. In most cases, this will provide a link to the recommended title ensuring that the reader will at least look at the title and increases the chances of it being sold. This could lead to a higher ROI for the publisher.
- Digital Book Previews – A more innovate marketing technique that is catching fire are digital book previews. It’s a great way to target your customers by creating a preview for any title in a matter of seconds as an eBook. Consumers can view it just using a web-reader option if they do not wish to download the book. Using authors’ contacts, online and social media channels, you can ensure a better rate of return at a lower cost.
- Reader Analytics – The data acquired by analytics really shape decision making. Reader analytics offer unprecedented insights as to which audience and niche a book appeal to. It allows publishers to adapt quickly to changing trends and navigate the market more efficiently. With greater flexibility and speed, this has improved the market reach for several publishers in the industry.
With marketing automation becoming more prevalent, invest in it expected to rise. In 2014, the marketing automation industry worldwide was worth $3.65 billion, but according to MarketsandMarkets, this value will soar to $5.5 billion by 2019. Therefore, based on the data, not only are publishers using marketing automation, but so are several other industries.
The underlying question comes into play again as to how publishers will benefit from marketing automation?
- Simplified Operational Processes – By having every single activity on one centralized platform, publishers will no longer have to take time to implement their strategies. They can do so at a click of a button. Your email campaigns can be managed a lot better as your marketing campaign will be synced with customer databases. This widens your reach in the market.
- Consumer Insights – It gives publishers smart insights into their consumer base. And yes, it gets your books into the hands of the right readers.
- Real-Time Reporting – With a marketing automation platform, publishers can keep track of how their book/title is performing on a certain site. For instance, with a daily trend analysis, it could keep track of sales figures and the book’s impact on the site like Amazon. It could even give an update on its performance with other similar titles.
- Makes Use of Multipliers – Marketing automation makes use of every multiplier possible. Whether it’s giving book previews, using authors’ contacts, providing advance readers copies, licensors, affiliates or other online channels, it maximizes each and every one of them. This provides the greatest possibility that your return-on-investment will be that much higher.
- Cost-Efficiency – The books/titles will rank better on other sites, be more reachable on the World Wide Web and be presented in the best possible way. The publisher will be focusing their attention on what works for their business and build on that. Reduced operational costs, focused customer targeting and better insights leads to a larger profit margin.
Marketing automation represents a successful path for publishers that will ensure high rates of return, better insights into a dynamic customer base, changing the business approach as well as making sure, readers find your books.
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