In Publishers Weekly (@PublishersWkly), Joe Wikert (@jwikert), general manager, publisher, & chair of Tools of Change for Publishing (@ToC) (#toccon), asks bookstores, “What business are you really in?” Simply selling books, he says, is too narrow. He challenges sellers to focus on their unique benefits, such as personalized service and community-building.
Despite the sluggish economy of the last few years, some bricks-and-mortar retailers have found ways to grow their business. Apple is a terrific example. Regardless of whether you’re an Apple fan, there’s always something new and interesting to discover in an Apple store. I can’t tell you the last time I felt that way about a bookstore. I’m not talking about eye candy or glitzy merchandising; when you enter an Apple store you know you’re in for a treat.
Wouldn’t it be awesome if customers entering your bookstore had that same feeling? I realize Apple can invest a lot in its store experience because it’s selling higher-priced items, but maybe that means you need to look beyond simply selling $20 or $30 books. I’m not talking about adding stationery and toys, like some bookstores have done over the years. It’s time to think much bigger.
Take a page out of Apple’s playbook and create a genius bar service for customers interested in self-publishing. Establish your location as the place to go for help in navigating the self-publishing waters. Remember, too, that most of the income earned in self-publishing is tied to services, e.g., editing, cover design, proofreading, and not necessarily sales of the finished product. Consider partnering with an established expert in these areas or build your own network of providers. The critical point is to evolve your business into something more than just selling books.
Also see the Forbes (@Forbes) article by Phil Johnson (@philjohnson), "The Man Who Took On Amazon and Saved a Bookstore," about Jeff Mayersohn and Harvard Book Store (@HarvardBooks). And "Inside Amazon's Idea Machine: How Bezos Decodes The Customer" by George Anders (@GeorgeAnders).
Contact Somersault (@smrsault) to help you “think bigger.”
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