Now that you have your goals set, and a timeline to reach them, let’s get to an action plan. Who is going to help you reach the desired outcome?
That would be your target market. Preferably more than one. For the sake of short blogs, let’s keep it simple. One market would be your current readers, another perhaps perspective readers. Think about who else in the publishing world has the ability to influence the sales of your book. I’m sure you can come up with a few more. Remember, the better you define your markets, the more effective your plan will be.
Once you’ve decided on your target market, it’s time to let them know about your great new story. Preferably about three months before the release date. The way you let them know, is by promotion. How you choose to promote is up to you. You’re savvy. If you’re reading this, you are probably already aware of several ways to reach your markets. Pick the ones that work best for you.
And remember, selling isn’t about telling people how great your book is, it’s about building relationships.
Last but definitely not least, is ROI. Return on investment. Once you’ve spent some time working your plan, you need to decide if it’s working for you. And don’t wait until you’ve reached then end of your timeline to check ROI. You need to check regularly. That way you’ll know if things are moving toward the goals you’ve set. Are you getting a good return for the time and money you’ve spent, or not? If not, you need to make adjustments to your plan.
One way to help gauge ROI is analytics. We’ll talk about those next week. They really aren’t as bad as they seem. And don’t worry, there won’t be a test.
That should bring you up to speed on Writer Biz.
Hope today is good to you!
Showing posts with label target market. Show all posts
Showing posts with label target market. Show all posts
Thursday, August 26, 2010
Friday, March 26, 2010
Writer Biz #9 – What’s A Target Market?
Now that you’ve set your goal and come up with a time line, you’ll need a target market. Preferably more than one. Let’s keep it simple for now, and you can expand it on your own later.
When marketing types work their magic, they use what’s commonly referred to as market segmentation. It’s a complicated way of saying they divide us up into groups by different variables.
The groups can be (notice, I said ‘can be’ NOT ‘must be’.) divided by demographic areas, geographic areas, psychographic areas, and behavioral areas. Still clear as mud? Let’s go a little deeper.
Demographic areas – these are based on variables such as age, gender, education, occupation, and income.
Geographic areas - are based on regional variables such as region, climate, population density.
Psychographic areas - are based on variables such as values, attitudes, and lifestyle.
Behavioral areas - are based on variables such as usage rate, price sensitivity, and brand loyalty. And yes, as an author you are a brand.
Once the segments are decided upon, they are usually profiled. (Not in a bad way.) In other words, a description is written for the segment and it’s given a name which represents the area which will be one of the targets for the marketing plan.
Sounds awful business-ey doesn’t it? Don’t worry. It’s really just a way to help you narrow your focus, so you can achieve your goals. The above list is to make you aware of things you may not have thought of when trying to figure out who your target market is.
I hear you, I hear you, already. “Readers, readers by books!!” “My profile is readers, you dummy.”
Yes, that’s true. But not all readers have the same taste in stories, so to make your plan more effective, let’s narrow it a little more. How about your existing readers for one segment. Perhaps prospective readers for another. Here’s an example of how the profile would look:
1. Existing readers – people who currently read my books.
2. Prospective readers – people who haven’t read my books but might read them based on the fact that they read another authors work which is similar to mine.
If you think about it, you can probably come up with a couple more. Give some thought to others in the book world who may be able to influence the sales of your book. They can be a considered a segment as well.
Remember, the better you define your target markets, the more effective your marketing plan will be.
When marketing types work their magic, they use what’s commonly referred to as market segmentation. It’s a complicated way of saying they divide us up into groups by different variables.
The groups can be (notice, I said ‘can be’ NOT ‘must be’.) divided by demographic areas, geographic areas, psychographic areas, and behavioral areas. Still clear as mud? Let’s go a little deeper.
Demographic areas – these are based on variables such as age, gender, education, occupation, and income.
Geographic areas - are based on regional variables such as region, climate, population density.
Psychographic areas - are based on variables such as values, attitudes, and lifestyle.
Behavioral areas - are based on variables such as usage rate, price sensitivity, and brand loyalty. And yes, as an author you are a brand.
Once the segments are decided upon, they are usually profiled. (Not in a bad way.) In other words, a description is written for the segment and it’s given a name which represents the area which will be one of the targets for the marketing plan.
Sounds awful business-ey doesn’t it? Don’t worry. It’s really just a way to help you narrow your focus, so you can achieve your goals. The above list is to make you aware of things you may not have thought of when trying to figure out who your target market is.
I hear you, I hear you, already. “Readers, readers by books!!” “My profile is readers, you dummy.”
Yes, that’s true. But not all readers have the same taste in stories, so to make your plan more effective, let’s narrow it a little more. How about your existing readers for one segment. Perhaps prospective readers for another. Here’s an example of how the profile would look:
1. Existing readers – people who currently read my books.
2. Prospective readers – people who haven’t read my books but might read them based on the fact that they read another authors work which is similar to mine.
If you think about it, you can probably come up with a couple more. Give some thought to others in the book world who may be able to influence the sales of your book. They can be a considered a segment as well.
Remember, the better you define your target markets, the more effective your marketing plan will be.
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