I found out recently about an ebook publisher that sold itself March 2017.
In just five years, the startup – by Oliver Rhodes, a previous traditional London publisher’s Marketing exec – shipped an impressive nine million ebooks. Mostly it seems for 99c, although some are priced at two or three dollars as well.
They hold a firm product release policy.
“In terms of e-books, you want to strike when the iron’s hot.
The best time to sell someone a book is when they’ve just finished your last one.”
Which meant that “the game is to kind of create a funnel”. Where sequels are published quickly.
This instantly brought to my mind the classic solution sales department strategy of increasing deal ’till-ring’.
Initiatives aimed at adding to the present average contract amount. Typically by working out how, when and what can be most simply added to the signed order form.
It made my think that too many new product pushes I’ve encountered are standalone, isolated affairs.
Their sole focus usually restricted on how to sell that specific shiny new item. To anyone, at any time.
This ebook success opens a new front.
When are your customers most likely to buy more from you?
Is it when they first sign? In the glow of making the decision our way, can something of ‘project value’ be added of relatively low price tag but high margin?
Is it once implementation is complete? A worthy, timely delivery earning some add-on or maintenance type extras?
Is it after a payback usage of your wares has been properly proven? A stress-free upgrade or aligned product fitting the next stage’s bill nicely?
If you sense your current latest product release pitch merely boils down to ‘take this, it’s new’, then you may well be falling down an unnecessary trap.
If you can rather shape your product ideas around destinations your eventual client reaches, you’ll be riding along a much more sustainable and profitable path.