This is the third article in a series.
This continues my series of blog postings about the top negotiating traps in which you could unknowingly find yourself when dealing with a corporate buyer. Here is the third trap to avoid.
Negotiating Trap #3: Not seeking common ground.
You will run across varied personalities on your path to negotiating large-quantity sales of your books to corporate buyers. Some of these people will have a hidden agenda when dealing openly in front of their colleagues, and they may assume a more confrontational behavior. This may result from a desire to perpetuate – or establish – a reputation as “playing hardball,” and not compromising easily.
This is the first article in a series.
Corporate executives can purchase your books in large, non-returnable quantities. However, the process to convince them to buy is not short, nor is it easy. These people are spending their company’s money, so they must justify their decisions to those higher up the organizational ladder. The decision makers negotiate with you to get the best deal and to confirm they know the answers to the right questions. Much of your sales success will be the result of making the buyers feel they are making the best decision.
Problems are the bane of all businesses, and solving them is a constant battle as publishers fight to succeed. Spurred by a penchant for action, they quickly switch into solution mode and in many cases address the wrong issues. The secret to winning the struggle is not simply solving problems, but first knowing what the real problem is.
For example, a publisher may begin brainstorming with employees by saying, “We have a problem with poor sales. What can we do about it?” A staff wanting to appear enthusiastic and helpful responds with recommendations for solutions. These might include publishing more books, increasing publicity, changing distributors or selling through more bookstores. Unfortunately, low sales are just a symptom of the real problem, and the solutions offered are analogous to re-arranging the deck chairs on the Titanic.
Should You Use Your Book As A Freemium? A premium is an item given away to attract, retain or reward customers. It may also be provided as an incentive to purchase a particular product. Can companies use your book as a premium? Yes, and you can earn substantial revenue that way. Can you use your book as a premium for your own business? Yes. When your book is a “freemium” it can generate a valuable source of revenue for your other services, such as speaking or consulting. Here are the Top Ten Factors to Consider When Using Your Book as a Freemium.
1. Your book has to have value in itself to recipients, meaning its content should be useful to them
2. The form should portray value – a high-priced hardcover book will have greater perceived value than a low-priced ebook
Authors and publishers hear the word “No” frequently. It could be said by the media, distributors, buyers in retail stores or corporate buyers. However, that doesn’t have to be the final answer. People who say no to one thing may be more likely to say yes if asked again. Use that fact to your advantage in a sales situation. If your prospect says no, think, “I heard what you said but it’s not what you meant.” You can more easily get to yes when you recognize the top ten tips for getting to yes after you hear No.
1. Show how you can solve their problems. Begin with an attitude of how you can solve peoples’ problems instead of thinking about how many books you can sell. Producers want a good show for their audiences, retail buyers want products moving off the shelf and corporate buyers want to sell more of their products.
Do you feel like your book is getting lost in the millions of titles currently for sale on Amazon? There’s a lot of competition for readers’ attention and that will only get more difficult as more authors embrace the freedom of self-publishing.
Did you know that you can laser focus your marketing efforts and sell thousands of books within a month of launch with virtually no email list, no Facebook friends, and no Twitter followers.
In our next LIVE ONLINE WEBINAR on Thursday, February 23rd at 12pm, Karen Dimmick will outline how she sold 1000 books and got 43 reviews within a month of launch, with an initial email list of just seven people. Karen Dimmick is co-founder of Bookthority, the host of The Book Marketing Summit, and the co-author of the international bestselling book 47 Mind Hacks for Writers. Here's what you’ll learn: