Not a Great Week for Publishing: A Lesson On How To Sell Your Products/Services

Yesterday was named Black Wednesday because of all the layoffs and reorgs going on in the publishing industry. The firings continue (Ann Patty of HMH got fired today) and Simon & Schuster is laying off a portion again. Thomas Nelson laid of 20% of its workforce this year, the last batch just this week. That’s HUGE.

The numbers for book buying look pretty good if you take out October and November from the totals. We are slowing down FAST and frankly, I don’t agree with someone I know who said the only people getting hurt by this are very wealthy people. It’s going to get much worse and for every single person in this country (and quite a few other countries to boot).

I’m an optimist, but also a realist. I know that if no one’s buying cars or books, if friends and family are being laid off right and left, and if people who are business owners like myself are pulling out all the stops to keep their staff employed, that we are downward spiraling into a long-term problem.

I don’t think it’s the end though. I think the resilience of the American working class is much tougher than anyone really gives them credit for. If people can’t buy books or cars, can’t afford cable, or can’t buy luxury items, this does not mean they are just sitting on their behinds waiting for someone to bail them out. I think the American people are working harder than ever and won’t give up until they get where they want to go. In that, I can trust. And in the grace of God. Natch.

The Black Wednesday of yesterday (and continuing today) just makes us writers a tad nervous. I know many writers just about to shop their novels or book proposals that feel as if they are standing at the edge of a precipice. This economy makes it just that much harder, but everyone I’ve talked to responds “just write an amazing book.”

Which brings me to my point: If you’re a business that offers a really good product or service, don’t back down on your marketing. Just because some people aren’t buying, doesn’t mean no one will.

1. Set up a marketing plan that fits this economic uncertainty. Not flashy, not over the top, and not focused on excess. Focus on what your customer must be feeling right now. Do they need a break? Do they need help? Do they need more time? Put yourself in their shoes.

2. Offer discounts, but don’t lower your price such that folks begin to lose sight of the value in what you offer. Promos are working really good in retail right now: e.g., additional 20% off regular and sale merchandise. A coupon works for service industries, but don’t promo your entire package, just part of it. Sell the value. Talk up the benefits, not the features.

3. Be patient and don’t push. Remember that customers need multiple contacts before they buy. Each time you sell to them, remember to think about the purchase from their point of view. Why would someone buy personal training right now? It’s expensive. It’s a hassle to go to the gym. What are the benefits of personal training? Improved fitness, better health, relief for a bad back? That’s how to sell.

I’m wishing my best clients a happy holidays/happy December and checking in once a week. I also have a special client list that will receive custom holiday gifts Fedexed to them in the next two weeks. These clients usually have provided a set amount of income to me in the past year. I appreciate their business. Even if it ends in 2009. I think being above board and gracious even when you aren’t making the sale goes a long way, don’t you?

Have a great Thursday. If you can, buy a book, help out the book industry. As for the car industry, well, I think we should just wait and see.

Tagged as: brilliant, business, holidays, marketing, sales