What Can a Good Book Teach You About Marketing?
To all of the book lovers out there, did you know there’s an official holiday to celebrate? August 9, 2014 is Book Lover’s Day! In honor of the holiday, we thought it’d be fun to take a look at the essential elements of a great book and how those elements can relate to your in-store marketing.
1. Know your audience, and cater to them
All great authors and publishers know who they’re writing for. Every person has a different taste in literature; authors and publishers need to know what types of people will be reading their books. The book cover design, language and dialogue used in the book will be different depending on the target demographic.
In the same way, you as a retailer need to know who your customers are and cater to their wants and needs. Sometimes your customers end up being somewhat different than who you originally thought they should be. For example, maybe you’re a gift shop with products and home décor that moms or grandmas would like. So, you direct your marketing efforts to middle-aged and older women. However, maybe you’re also getting a lot of younger individuals who are looking for gifts for their moms or grandmas. You don’t want to leave out those valuable customers. Make sure you’re routinely analyzing your customers and updating what your target audience looks like. Then you’ll be able to better market to the right people.
If you’re using Facebook ads, you can even custom build your audience so your posts are reaching the right people. For more details on creating Facebook ads and segmenting your audience, check out this blog post by Chrissi Reimer of Deluxe Corporation (Bags & Bows’ parent company).
2. Create loyal readers (customers)
Whenever I read a really great book, I immediately tell all of my family and friends to read it. I then look to see if the author has other books, and I’ll begin reading those. If you’re anything like me, you’ve probably done these things after reading a good book, too. Because you’ve found a great book, you’ve become a loyal reader (to a particular series, author, or even genre). You’re one of the author’s greatest advocates, and you’ll be there to buy their next release right when it hits the shelves.
It’s time we start creating customers who are this loyal! Do you have customers who are speaking up on your behalf, telling their family and friends about your business, and frequenting your shop to see what’s new? If so, create some type of loyalty program to reward those customers. Here are some great ways to thank loyal customers. You can also find ways to turn casual customers into loyal customers and advocates. One way to do this is by creating bounce back promotions, so they’ll visit your business again. Another simple way is by having great customer service. Customers will return and tell others to visit if you give them the best and most helpful experience possible.
3. Use past success to create future success
When authors have very successful books, it’s not uncommon to see similar books come out or additional books added to the series. Hollywood also loves to take successful books and turn them into movies. Authors, publishers, and Hollywood keep track of their successes and then repeat with a slight twist to create even greater successes.
Are you struggling for new ideas or feel like your strategy has become stagnant? Look back in your business’ history – what have you done that’s been really successful? Was there a new product, specific marketing message, or event that brought about a lot of attention or sales? If so, reuse those ideas. All you have to do is put a slightly different twist or emphasis on it.
On August 9th, take a little break, and relax with a good book. If you need a recommendation, here are some of our team’s favorites: