Publishing a book to build a business?

9 replies
The backstory is this: We got an email from a major publisher yesterday asking whether we'd be interested in writing a book based on the content that we've created on our website and social media pages. This is actually something we had already thought about, but always put on the back burner, partly because we don't have any experience with this kind of thing, but mostly just because we haven't really had the time to explore the idea.

On the face of it, it seems like a no brainer. We write a book; it hopefully sells; we make some money. But, of course, it's not that easy. Even though we already have a base of content to draw upon, reworking it for a print medium would take a lot of time and energy -- and we're already stretched pretty thin as it is. So what I'm trying to decide is whether it's something we should put on the "To Do" list for 2015 or whether we might hold off until 2016, later or perhaps never at all.

When I envision the book that would likely result, I'm realistic enough to know that it won't likely appear on any best seller list. It won't win a Pulitzer, a National Book Award or be made into a movie. Still, it could be a reasonable seller for a niche audience and -- perhaps more importantly -- it could potentially introduce a whole new audience to our business.

As an example, I could imagine building a mini-site for the book that would be used to introduce people to our work and (more importantly) try to capture emails and social media followers, which we could then use in our marketing efforts. Something like this mini-site might even be effective for people who didn't buy the book if we were able to use the book as a publicity vehicle. People who read about us, heard us on the radio or saw us on TV (assuming we could get some media hits -- which I'm 99.9% sure we could) might well sign up for our lists even if they didn't buy the book. In the past we've had mixed success from our media hits; but these were mostly ad hoc responses to individual reporters' stories and I feel we would probably do much better if we were running a concerted media campaign.

So I guess what I'm asking is for help thinking this through. Really I'm more interested in brainstorming ideas than advice about what you think I should do.

Do you have experience using books as away to garner publicity and/or capture customers? If so, how did that work for you and what lessons did you learn that would be good to know before deciding to undertake a project such as this? Obviously, I'd be interested in experiences from anyone whose been published, but I imagine self-published authors could also have a lot of valuable thoughts to share. Publishers, after all, are generally interested in selling books, not using books to build businesses, which I imagine would be more likely the case for the self-published.

Are there any other ways we might be able to leverage a book deal such as this to grow our lists, our sales and ultimately our company?

Are there any other considerations aside from the time and effort involved that might make this be something we want to reconsider before plunging into something like this?

Thanks in advance for any thoughts you might have!
#book #build #business #publishing
  • Profile picture of the author travlinguy
    I've written and published four physical books and many, many ebooks.

    Three of the four physical books did well. Two of the three I promoted heavily on radio talk shows. If your topic lends itself to radio talk shows or if you can find an angle that fits with current events or pop culture or any other creative hook you can get TONS of exposure on the radio. And if your topic does have any type of "wow" factor it will be super easy to get booked on appropriate venues. TV might even be an option, depending on your topic though I never made it to TV.

    My topic for the first book was creative financing real estate. The second was preparing for possible problems in the event the Y2K bug caused problems.
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    • Profile picture of the author kilgore
      Thanks for the feedback, travlinguy.

      I'm 100% certain we could get some decent press. We already get quite a few press inquiries; we've been on or in BBC Radio, the Huffington Post, the Washington Post, the Times of London, and a dozens and dozens of other outlets -- big and small -- so we not only know there's an interest in our issue and in our work, but we have contacts with and relationships with reporters who might be willing to feature us.

      Even so, as I said above, so far our outcomes from the press we've done has been mixed. In some cases, a good story has gotten us a nice amount of traffic (especially from primarily online publications) and in others we've gotten barely anything out of it. I'll also say that we haven't done a very good job of converting our press traffic into subscribers and more general business growth -- which for me would be my primary motivation for a project like this. Selling some books would be nice, but what I really want is to grow the company.

      So I'm wondering if you found your book -- and your promotion around your book -- a good vehicle to grow your business more generally, or if you found that people might have been interested in your book, but weren't necessarily interested in your larger business.
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      • Profile picture of the author travlinguy
        Originally Posted by kilgore View Post

        Thanks for the feedback, travlinguy.

        I'm 100% certain we could get some decent press. We already get quite a few press inquiries; we've been on or in BBC Radio, the Huffington Post, the Washington Post, the Times of London, and a dozens and dozens of other outlets -- big and small -- so we not only know there's an interest in our issue and in our work, but we have contacts with and relationships with reporters who might be willing to feature us.

        Even so, as I said above, so far our outcomes from the press we've done has been mixed. In some cases, a good story has gotten us a nice amount of traffic (especially from primarily online publications) and in others we've gotten barely anything out of it. I'll also say that we haven't done a very good job of converting our press traffic into subscribers and more general business growth -- which for me would be my primary motivation for a project like this. Selling some books would be nice, but what I really want is to grow the company.

        So I'm wondering if you found your book -- and your promotion around your book -- a good vehicle to grow your business more generally, or if you found that people might have been interested in your book, but weren't necessarily interested in your larger business.
        Well, to answer your question, my business at the time and much of the time these days was selling books. That made it worthwhile in a big way. I often saw thousands of dollars in sales following an interview on a popular station. I actually got on a few nationally syndicated shows that drove sales crazy.

        Without knowing your market it's hard to say what might happen for you. Of course, if you know the press is interested in what you're doing there's always a way to craft a plan. As you mentioned in the OP, you were able to take advantage of some of the publicity sort of willy nilly. But when you solicit interviews and actually get bookings well in advance of the actual show date there are lots of things you can deliberately do to maximize your results.
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        • Profile picture of the author kilgore
          Yes, I can see how if selling books was/is your primary business, getting exposure like you described would be huge. That's obviously not the case for us, but as I re-read your responses, you've made me like the idea more and more. One of the problems I think we've had with the press in general is that we've often lacked a good Call to Action. People read a story about us or hear us on the radio and think, "Wow, that's great" (I hope) but then just move on to the next story. Largely, I think this is because our site and our mission (we're a social enterprise, so we are not only trying to make a profit, but we're trying to do some social good) are pretty large and complex. So I wonder if having a book to promote would give us something concrete to focus our audience's attention on as well as a well-defined action they could take.

          At any rate, if we're able to do as well as you seemed to do in book sales, I could see it being potentially worth hiring someone to help produce this book. Even if it only had enough sales to pay for itself, hopefully the spillover effects in terms of exposure and our ability to find new customers would make it worth doing.

          Anyway, thanks again for taking the time to share your thoughts and read my rambling messages. I often think better when I put ideas to paper -- though other people aren't burdened with reading them!
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          • Profile picture of the author travlinguy
            Originally Posted by kilgore View Post

            Yes, I can see how if selling books was/is your primary business, getting exposure like you described would be huge. That's obviously not the case for us, but as I re-read your responses, you've made me like the idea more and more. One of the problems I think we've had with the press in general is that we've often lacked a good Call to Action. People read a story about us or hear us on the radio and think, "Wow, that's great" (I hope) but then just move on to the next story. Largely, I think this is because our site and our mission (we're a social enterprise, so we are not only trying to make a profit, but we're trying to do some social good) are pretty large and complex. So I wonder if having a book to promote would give us something concrete to focus our audience's attention on as well as a well-defined action they could take.

            At any rate, if we're able to do as well as you seemed to do in book sales, I could see it being potentially worth hiring someone to help produce this book. Even if it only had enough sales to pay for itself, hopefully the spillover effects in terms of exposure and our ability to find new customers would make it worth doing.

            Anyway, thanks again for taking the time to share your thoughts and read my rambling messages. I often think better when I put ideas to paper -- though other people aren't burdened with reading them!
            You're welcome. Glad I could help. A couple more thoughts came to mind. When you mention social good, that can be a great motivator for talk show hosts and producers as well as the listeners. With this type of promotion your goal is to let the host know that you are going to make him look like a genius in the eyes of his listeners for having you on. It's always about them. With that as my goal I got invited back to one out of three shows for an encore.

            When you do that people know you're sincere and real and they love you for it. I did an hour interview with a popular host in Seattle back in the day. This guy interviewed mainly marquee, best selling authors but he had a vacant spot and gave me a shot. He later told me it was his most popular show of the year by a huge margin.

            And all I did was share everything I knew with him and the listeners. Lots of enthusiasm. I had reams of orders flowing all over the floor (faxed in orders from a toll free answering service). The station even replayed the interview a few times in the early morning hours which pulled in a couple thousand dollars more.

            All because I didn't hold back. When I first started I thought it wise to be a bit stingy with info because I wanted the listeners to have some fresh material when they actually got the book in their hands. But I soon realized how silly that was. Most people don't absorb very much from a radio interview and are very happy when you go all out.

            If you do decide to go for it let me know and I'll point you to some excellent info for getting booked.
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  • Profile picture of the author Tsnyder
    You didn't mention what kind of book deal they're proposing.

    Are they going to bear the cost of publishing and promoting or
    are they a vanity press publisher looking to sell you on the idea
    of paying them to publish the book?

    It makes a world of difference on how you proceed.
    Signature
    If you knew what I know you'd be doing what I do...
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  • Profile picture of the author hometutor
    Just my cautious concern that these guys are just hunting for a publishing fee? May I ask if they are charging you anything?

    Rick
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    • Profile picture of the author kilgore
      Originally Posted by travlinguy View Post

      You're welcome. Glad I could help. A couple more thoughts came to mind. When you mention social good, that can be a great motivator for talk show hosts and producers as well as the listeners. With this type of promotion your goal is to let the host know that you are going to make him look like a genius in the eyes of his listeners for having you on. It's always about them. With that as my goal I got invited back to one out of three shows for an encore.

      When you do that people know you're sincere and real and they love you for it. I did an hour interview with a popular host in Seattle back in the day. This guy interviewed mainly marquee, best selling authors but he had a vacant spot and gave me a shot. He later told me it was his most popular show of the year by a huge margin.

      And all I did was share everything I knew with him and the listeners. Lots of enthusiasm. I had reams of orders flowing all over the floor (faxed in orders from a toll free answering service). The station even replayed the interview a few times in the early morning hours which pulled in a couple thousand dollars more.

      All because I didn't hold back. When I first started I thought it wise to be a bit stingy with info because I wanted the listeners to have some fresh material when they actually got the book in their hands. But I soon realized how silly that was. Most people don't absorb very much from a radio interview and are very happy when you go all out.

      If you do decide to go for it let me know and I'll point you to some excellent info for getting booked.
      Yes, we definitely use the social good angle, partly because it sells, but in truth it's really mostly because we really do care a lot about the issues we're working on. Likewise, pitching our social angle in any promotion we did would be both good for business and also serve our larger social mission. It's a win-win, really. That said, social enterprises -- and especially for-profit companies trying to do good -- are a relatively new phenomenon and so it can be tricky communicating that while the financial bottom line is important (it has to be or we wouldn't exist!), our social accounting is just as -- if not more -- important. Indeed the reason I'm so focused on business growth is precisely so we can grow our company, increase our capacity and have a bigger impact.

      I do think you're right about not holding back. If you open up the New York Times just about any day of the week you'll see an Op-Ed from some author of a new book who has basically distilled the thesis and the 3 - 5 major arguments of his/her book into 1,000 words or less. I think what a lot of people here (especially those in the MMO niche) don't realize is that it's not the "secret information" that gives their work value, it's how it's packaged, presented and supported. It's the details that count. So if I were in the MMO niche, I'd give away my "secrets" in a blog, on my social media, in interviews and anywhere else I could. They probably aren't really secrets anyway. But by doing so, I'd establish that I actually do know my stuff and get people interested in buying my more detailed products.

      Happily, holding back isn't really a temptation for us -- almost everything that we'd put into our book is something we've already published on our site or through our social media. What we'd be providing in our book isn't anything new or ground-breaking but (1) a way to easily read our information in bed, on the train or anywhere else (2) more detail than we've provided online and (3) our name and brand, which is one of the most recognizable and respected in our topic area (if I do say so myself).

      As for tips on booking, I'll definitely keep that offer in mind -- we no doubt could use them! But first we have to write the book. And before that, I have to not only sell my partner on the idea of writing the book, but get a firm commitment from the publisher (or another) that they'd move forward.

      Thanks yet again!
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  • Profile picture of the author kilgore
    Originally Posted by Tsnyder View Post

    You didn't mention what kind of book deal they're proposing.

    Are they going to bear the cost of publishing and promoting or
    are they a vanity press publisher looking to sell you on the idea
    of paying them to publish the book?

    It makes a world of difference on how you proceed.
    Originally Posted by hometutor View Post

    Just my cautious concern that these guys are just hunting for a publishing fee? May I ask if they are charging you anything?
    Thank you both for your concern, but no, there is no charge. As I said, in my OP, they're a major publisher (a division of Penguin Random House to be exact) not a vanity press.

    So yes, they absolutely would bear the cost of publishing; and while we haven't negotiated the details, I imagine they also might be willing to pay an advance (though undoubtedly a small one), which could be useful to (a) secure their commitment to the project and (b) help us hire someone if we need help to complete it. As for promotion, again, I'm not really sure (yet) what type of support they'd provide, but it'll certainly be a point of negotiation if this project moves forward.
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