Borders Bankruptcy: How to Compete in a Tough Retail Market
Whether you’re a writer, editor, regular author, a reader, or all four, the recent release of the Borders bankruptcy is unhappy news. With over one billion dollars in debt and over 200 stores closing, the impact is unavoidable for any author or book buyer. For many, it’s thought that this news is good for smaller chains seeking to compete, but the downturn of sales across all retailers makes this difficult to suggest. For books nearing a release, this widespread closure could result in a far more difficult market to compete within. So what’s an author to do as book retailers become more difficult to reach? Read on to learn how your book can thrive in a tight and wavering book market.
The first key ingredient in effectively marketing, is to find out to whom you wish to market your book. Consider age range, gender, hobbies, likes, dislikes, and on what things the majority of their time is spent. Through research of your book’s ideal readership a effective marketing campaign develops. You may want to consider hiring an marketing agency to research your market and the best ways to connect with readers.
Should I Cut Out Retail Stores Completely?
Absolutely not. Retail stores such as Borders may have a difficult road ahead, but as with anything, the book market changes all the time. Yes it will have a negative impact upon readers and book buyers, but retailers still exist and remain a viable source to place your title in the hands of readers. Rather than cutting them out, find out how to continue to make your book available through them with the addition of other media platforms.
“If I cannot rely solely upon bookstores to sell my books, what should I do?” Again, it’s not a good idea to cut bookstores out of the picture completely. In fact, now is an excellent time to show bookstores the necessity of carrying your title through high-quality publication and effective print marketing. Beyond this, mediums such as a website, social media, blogging, and online shops are just a few ways you can extend the reach of your book.
For example, rather than waiting for a bookstore to find and purchase your title, have an intuitive and useful website created featuring regularly-updating information about your message. Combine it with an integrated blog, social media (Twitter, Facebook, LinkedIn, etc.), and an effective publicity campaign and you’re off to a great start. You could even offer a free E-book version to spark interest and start a conversation about your new title. These only skim the surface, but when it is all said and done, there are a wide range of ways to reach readers with your book, even when others scale back.
Mediums and Methods for Promoting Your Book
Print advertising, web marketing, and media publicity are a must for promoting your book. However, contrary to common misconceptions, you do not have to do it all yourself. In fact, it’s recommended that you find a professional team who specializes in book-specific marketing. Consult experts, research your industry, and make your advertising dollars count. Don’t waste time and resources trying to figure out what will work best. With the right team by your side, you can focus upon writing and further means of promoting your book.
A Website: Your Online Foundation
A website is an excellent place to start for sparking interest in your book. When regularly updated with new content, and interactive for readers; a website is essential for book promotion. Many times, a website works as a foundation for all your marketing across the web. Whether you plunge into social media, other sites and blogs, or landing pages; it works as an excellent “hub” where readers and buyers can find your book.
A Blog: Fresh, Interesting, and Useful Flow of Content
Usually best when integrated within your website, a blog makes an excellent tool to retain interest in your book, or latest events as an author. Better yet, a blog which provides timely, and compelling content on a regular basis can have unmatched results for attracting readers. Blogs which stress quality and useful content, can often find individuals coming to them (inbound marketing), rather than leaving an author to search out potential book buyers. This makes promotional efforts far more effective.
Special Promotions and Landing Pages
Another excellent tool for promoting your book is a limited time offer captured within a landing page. Have a single web page developed giving away a gift for purchasing your book, in combination with a simple form capturing the information of those taking advantage of the offer. Combine this with follow up E-mail blasts (with permission from participants) further promoting your book, and you have a potentially viral market combination.
Social Media: Your Web Presence
As previously mentioned, social media is a viable contender for any type of promotion. Be wary, however, of making the common mistake of simply using it for blatant self-promotion. When used as indirect marketing and connecting with those whom you wish to buy your book, you expand your message and services.
What Do You Think?
Do you think the Borders bankruptcy will affect authors? If so, what do you think will make the difference for helping authors continue to sell books? We would love to hear your ideas and feedback!
Additional Resources
- How to Successfully Connect with Key Organizations
- 7 Tips For Getting Your Book on the Shelf and Keeping It There
- Websites Are Dead: 10 Reasons Why You Need an Online Business
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It’s time to reform the way we think about book publishing. Stop giving up all your rights. Stop giving up control of the process. Stop settling for mediocre “self-published” books. Start publishing the right way. WinePress provides all the services and representation you need to publish books people will read and enjoy.
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