Marketing Your Story using the 5 P’s

In marketing, any product, or service there are five aspects that you can control. We will discuss these 5 P’s in relation to marketing your book or story. If you effectively manage each of the 5 P’s your chances of success increase dramatically. The five P’s include; Product, Placement, Promotion, Price and Packaging. The five P’s together comprise the marketing mix. Each of these elements of the marketing mix should be in your marketing plan.

Product:

Your product is your book or story. Your marketing plan starts with writing the best book possible. This entails having your book edited several times by a qualified and efficient editor. If you are working with a publishing house, they will help you with these tasks. However, as the author it is your name on the cover. If you self-published your story, it becomes even more important to hire the right professionals to ensure the best product.

Placement:

Where is your book being sold? Knowing stores that are carrying your book is vital for establishing your marketing plan.This knowledge is needed to implement your promotional activities. Your publisher should be able to tell you which outlets and locations are currently stocking or will bring in your book. You can increase placement of your book by helping your sales team by supplying them leads and suggestions. If you are self-published, it is highly recommended that you hire an independent sales rep the has experience with the publishing industry.

Price:

There have been many excellent books which have had lackluster sales because they are priced wrong. Your publisher will help you in setting the price point. I would encourage you to do your research and look at comparable books. It is important to stay in the conversation with your publisher about the suggested retail price of your book. If you are self-published, it is even more important to pay attention to your price point.

Promotion:

Now that the building blocks are in place here comes the fun. You can set up events geared around the outlets stocking copies of your book. Reach out to the media and tell your story. Here is a great article on promotional activities. Telling your story is an essential element of promotion. Here is an inspiring article on how to tell your story.

Packaging:

Packaging your book has many elements you can include. Do you send copies of your book with a bookmark? Are there signed copies of your book in stores? You can also gain a corporate sponsor for your book. Keep these elements in mind when you write your marketing plan.

Your marketing plan should be simple to understand. It is important to write details and create a to-do list and an action plan. Your marketing plan should be a living document that you change and modify on a regular basis. If you would like assistance in writing and drafting a marketing plan for your book or story contact me and my associates at Ironrod Media.