INTERNET MARKETING PLAN TO SELL A VOOK CUSTOM ESSAY

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The purpose assignment is to:
1. Examine the marketing opportunities and challenges in an industry that has been severely impacted by the internet and digital technology.book publishing.
2. Explore the possibilities and potential open to publishers and authors opened up by new technology.
3. Apply marketing practices and creative thinking to develop a strategy and plan to drive sales of iPad apps available for sale in the iTunes store.
4. Think strategically about how to leverage the power of the internet to build a movement behind a philosophy and a brand.

The Book Business:

There is no question that the book publishing business has been dramatically impacted by digital technology and the internet and that publishers have been resistant and slow to react to these changes. Publishers missed crucial opportunities to cope with digital books, Internet innovations and economic pressures and most proved incapable of looking at the future. Here’s quote from a frustrated publisher that sums it up We’re an industry more willing to watch the boat sink than rock it a wee bit. The effect on the retail book selling business has also been well documented.

Additionally, retail paper books also established a price point that has been severely undercut by digital books. In analog economics people paid $25 to get some paper, ink, and a binding, all of which had to be warehoused, shipped, and slotted on shelves in warm stores with muzak and imported coffee odors wafting through the environment.
A digital book suffers or benefits from any of those impediments so it is cheaper and readily available for instant gratification.

Of course paper books are here to stay and they are a mainstay of our culture, but they are not the only and perhaps not the most elegant and proficient way to spread an ideas, information, entertainment, etc in the age of blogs, e-readers and social media. Seth Godin recently decided to forgo the traditional publisher/bookseller model and bypass the middleman with an exclusive deal with Amazon. Here?s what he had to say about his decision. ‘I really don’t think the process is worth the effort that it takes now to make it work. I can reach 10 0r 50 times as many people electronically’

The Product:

Dr Kathy Cramer, founder of The Cramer Institute in St. Louis is a sought after business coach and corporate consultant with a blue chip list of clients. She pioneered and developed Asset-Based Thinking as a new and powerful way to see and change your world and the world around you. In 2006 Dr. Cramer teamed up with Hank Wasiak to launch a series books based on this innovative asset-based thinking mindset. The first book, ‘Change The Way You See Everything’ was launched in 2006 and became a best seller selling over 20,000 copies in it’s first year with over 60,000 copies sold to date. The first book was followed by Change the Way You See Yourself in 2008 and Change the Way You See Everything For TEENS in 2009. Sales of these two titles have not been as robust.

The books are highly visual reading experiences that enhance the presentation of the content. In addition to the hard cover books sold through traditional and on line retailers, digital versions of the books are available. However, due to the unique design and visual layouts of the printed books they were all developed using the In-Design platform and consequently the materials did not display correctly in digital formats and delivered unsatisfactory reading experiences. As a result none of the books could benefit from true digital distribution and the explosive growth of e-readers and tablets. Until, now. With the advent of Vook we are able to take the content files for all of the books, convert them properly, enhance the content with video and market them for tablet formats. The initial Vook has been launched as an app in the iTunes store. A similar app for the Teen book will be launched in March.

What is A Vook?

A Vook is a new innovation in reading that blends a well-written book, high-quality video and the power of the Internet into a single, complete story. You can read your book, watch videos that enhance the story and connect with authors and your friends through social media all on one screen, without switching between platforms.
Vooks are available in two formats: As a web-based application you can read on your computer and an application for iPhone, iPod touch and iPad for reading on the go.

Overall Assignment:

Take on the role of a project manager at Asset-Based Thinking assigned to launch and market these titles. Develop a marketing program to build sales of the iPad editions of this digitally enhanced Vooks. The plan should provide a template for the launch of digitally enhanced versions for platforms other than iTunes i.e Kindle Fire. The initial promotion period for this program will be six months April September

Specifics:

The plan should heavily, if not exclusively, utilize the internet and digital marketing tools. The budget is minimal and the recommendations should maximize the use of existing assets and ‘free’ media. There could be up to $10,000 in funds available for selective marketing and promotion expenditures to support specific creative ideas/concepts. The plan submission should address the following at a minimum:

1. Establish sales targets for six month campaign for both Vooks

2. Clearly define, prioritize and quantify the target audience.

3. Write a concise creative strategy for selling the Vooks. (Format attached)

4. Identify the marketing tactics and media elements to be employed in the campaign with estimated costs/budgets where possible.

5. Provide ideas on how the two titles can be marketed as a package

6. Provide examples of creative executions.

7. Discuss the long-tail potential of utilizing these Vooks as leverage to build a broader base of ABT business extensions.

Format:

Please write a concise, organized recommendation document in an easy to read format of your choice. The recommendation section can be up to three pages (maximum) excluding the creative strategy, creative materials (if any) and any relevant exhibits.

Other Helpful Information:

For the first book the authors received a $25,000 advance against royalties to deliver ready to publish content files for the entire book including all photographs. The out of pocket costs incurred by the authors to deliver these files (excluding labor) was equal to the advance. The authors would not realize net profit dollars until after approximately 8,500 copies were sold. The same principles apply to the Teen book which carries a cover price of $14.95.

Printed Books:

Sales Price Royalty Agent% Authors

$25 15% Cover Price 15% 85%

$3.75 $0.56 $3.19

For the Vook editions the authors incurred some costs to refine files and provide video content for the digital version. Since most of the videos were produced for other purposes the out of pocket investment costs, excluding time, were not significant. Vook incurred the costs of transforming and preparing the original materials into the iPad application format.

VOOK Economics:
Sales Price Apple% Vook% Publisher% Authors%

$2.00 30 35 17.5 17.5

$0.60 $0.70 $0.35 $0.35

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