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Consider the Four P's when Marketing your Book
The Four Ps is a concept that is used time and again in the business world. However, it can be applied to any product or service, and yes it can also be used when marketing your book. Now, what does this entail? And how will it help you as an author? Well, keep reading and you’ll find out.
Now the Four Ps are short for Production, Place, Price, and Promotion. I know what you’re thinking, and at a glance, some of those words don’t seem to apply to an author's marketing strategy. That’s because we have to adapt each term from the business world to that of an author’s so that the information can be relevant.
These terms or Ps when converted to tasks that authors are familiar with make a lot of sense, and they are of immense importance and should definitely be considered in your marketing plan. Now then let’s have a look at how the first P, production, and how it relates to the success of your marketing strategy.
Production when modified for authors entails the type of book that you want to market. Will it be a print version or an e-book? If your book is aimed at an older audience then print would be best. That’s one of the ways that considering production when marketing can save your bacon. The other is creating an attractive but not misguiding cover. Meaning that you shouldn’t put a dragon on your cover if your book is a memoir unless you were a dragon slayer at some point in your life.
The next P is Place. This mainly entails where is the best possible place to market your book. You can’t simply wake up and decide to market your book through a marketing firm and hope for the best. That would be incredibly reckless of you. You need to ask yourself what is the best possible media platform and location to market your book. Now is not the time to just “wing it and hope for the best” so you really should put some thought into the “Place” that your marketing strategy is centered upon.
Up next is Price. This one entails the cost of your marketing plan and whether those costs are justified. Ever heard of the law of diminishing returns? In a nutshell, it simply means that there is a price range in every product or service that no longer justifies the quality but rather the aesthetics. In other words, a $10,000 guitar isn’t necessarily better than a $500 guitar.
These two guitars could be of the same types of wood but one is cheaper because they conduct no advertising and they’re a lesser-known brand, whereas the other bills you for the advertising and brand name. So don’t splash out money on a more expensive method of marketing on the assumption that it’s the “best.”
Finally, we have Promotion. This last one entails you giving it (the marketing strategy) your all. Your marketing strategy is integral to the success of your book. So make sure that the plan you’ve come up with will get people reading your book.
Well, there you have it, folks. The Four Ps are utilized to help authors improve upon their marketing strategy. Since it has worked for businesses for many years, it will definitely work for you.
Written by Readers’ Favorite Reviewer Nicholus Schroeder