3-Point Strategy To Save Book Publishing

“If you can’t beat them - join them”
- Author Unknown

There seem to be no shortage of bad news and challenges that book publishing industry is facing now. The challenges revolve around the apparent conflict between the traditional print format and the new, electronic media. But if publishing industry embraces the quote at the beginning of this article, it might find itself in a much better position, even better than it was before the conflict has started.

But what are the strategic steps the industry should take in order to become a winner in the new market and technological conditions? Here are some specifics.

Step 1: Lead the Electronic Format
True, some companies have already made an alliance with Apple for the iBook and iPad deals. But what is really needed is for them to embrace the electronic format fully and lead the way. Leading the way is different from the reactive response to new technologies we have seen so far. In Step 1 publishers have a huge advantage over others businesses:
a) they have vast experience in book publishing
b) they have direct connection with authors
c) publishers and authors have an ability to connect directly with their readers

Using these advantages publishers can re-position themselves to become de-facto leaders in any the new format.

Step 2: Add Rich, Multi-dimensional Content
We have written a number of articles on this could be done with SmartSymbols (”Who is the Author“, “Secret of the Compass Icon“, and more), but fundamentally (SmartSymbols or not), new technology allows publishers to aggregate all the marketing and promotional materials and attach it to any book in any format: book trailers and movies based on the book, interviews with authors and book illustration; the list is endless. The key is to figure out what readers really want (here is my tip on that) and make it easy for the readers to access the information.

Step 3: Create Book Eco-sphere
This one is really easy: book fans and book clubs have been around for ages. New technologies, such as SwapTree and GoodReads, makes it even easier for publishers to create very rich book eco-sphere. All publishers really need to do is package Step 1 and Step 2, so we, the readers, can easily access information we are looking for, which is the very foundation of Permission Marketing (probably the most cost-effective marketing approach today).

One Last Point.
Investment in this strategy, or its specific steps, not only addresses immediate survival needs of the publishing industry, but also opens doors to new developments and innovation that will propel books and publishers back to their rightful place as the leaders of one of the most needed and valuable industry in history.