Your 2020 Business Plan

December 13, 2019

The new year is quickly approaching and it’s time to create a new profitable business plan. Whether you’re already an author or you have a company that you think isn’t related to publishing at all, you might want to consider adding being an author to your budget. We live in a world of consumable information – books are at our fingertips and written media is often how potential clients make purchasing decisions. Not only that but by adding a book, you increase your company’s reputation. The question now is how to include being an author in your budget and planning for 2020. Below are a few things one should expect by adding this to their 2020 plan. 

Add Marketing to Your Budget 

“You’ve got to spend money to make money” — we’ve all heard it and have experienced the truth, at least on some level. Business costs often come before revenue, so it’s important to factor this in first. How much do you need or are willing to spend on marketing purposes on promoting your book? Buffer has a detailed list of average cost of successful marketing. Your main focus should be social media and it’s key that you understand marketing strategies for each platform. The way you market on Facebook will be different than Instagram. Consider joining a marketing seminar or hiring a professional. You’ll be amazed by the results!

Earn 5-10% More with a Book

Now that you’ve factored the cost in, you’ll be happy to know that with a book you’ll be earning on average 5-10% more with a published book on the market. Not only are you earning more money from your book, but if your book is in relation to a company you own or a service you offer, you’ll see an increase of clients and expand your services to a wider audience. Even if you’re hesitant about marketing and sales, know that it is more than worth it to publish a book. It’s the best business card you’ll ever have. 

 

Scheduling Time for Media Appearances

Marketing isn’t just about running ads on Facebook or Instagram, you’ll also need to make a personal connection with your audience to build trust thus encouraging sales. A great way to do this is by scheduling time for social media appearances, such as live streams, interviews, and more. Reply to comments and emails – or have a personal assistant do so. It is important to answer questions, maintain transparency, and build trust with your clients. You’ll also need to set aside this time to promote your book. For those with access to standard media outlets such as newspapers and television outlets, reach out for interviews or spotlight features.

 

Social Media Department and Your Book

We’ve covered a lot of information in regards to social media, thus you may realize the importance of having a social media department or employees who solely manage this area of your business. If you already do — great! You can get started on creating a social media plan for the upcoming year. Be sure to include your published or soon-to-be-published titles in this plan – consider book tours, blog tours, and networking with other media outlets. 

Make this year rewarding with a new, exciting business plan that will increase profits and draw in more clients. For more information about Elite Online Publishing and steps to publishing a book, click here

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