Socializing grows in importance for publishing success.
eBooks are dramatically increasing their market share as book stores close.
We released the most recent lesson of our course “Self Publishing 202 Tidbits on Kindle” and it explains why we are beginning to use social networking in our publishing.
There is a groundswell of change in publishing.
An excerpt from the September 2011 Economist article entitled “The transformation of the book industry” tells the story: Readers have never had it so good. But publishers need to adapt better to the digital world.
More quickly than almost anyone predicted, e-books are emerging as a serious alternative to the paper kind. Amazon, comfortably the biggest e-book retailer, has lowered the price of its Kindle e-readers to the point where people do not fear to take them to the beach. In America, the most advanced market, about one-fifth of the largest publishers’ sales are of e-books. Newly released blockbusters may sell as many digital copies as paper ones. The proportion is growing quickly, not least because many bookshops are closing.
For publishers, though, it is a dangerous time (see article). Book publishing resembles the newspaper business in the late 1990s, or music in the early 2000s. Although revenues are fairly stable, and the traditional route is still the only way to launch a blockbuster, the climate is changing.
Algorithms and online recommendations threaten to replace them as arbiters of quality.
This statement about “algorithms and online recommendations” outlines why social networking has grown in importance to publishing. Good recommendations can now launch a book into the best seller list and once there the algorithms take over promoting the book and making its success a self fulfilled prophesy.
This is why we have been helping many readers learn how to use Amazon.com for self publishing and this is also why once a month Michelle Toole, a student of our self publishing course, shares a tip on how she built a successful internet business from scratch.
Michelle made a fateful decision… to attend a seminar in Ecuador, with us. What she learned there led her to take our self publishing course.
Michelle was disabled when she took our self publishing course “Self Fulfilled – How to be a Self Publisher”.
She took what she learned from our publishing courses and created her own successful global micro website.
Michelle wrote: I have some great news, my web site http://healthy-holistic-living.com is now getting on average 2,000 visitors a day! Yup my little one man show web site now gets close to 60,000 visitors each month! The power of the internet is amazing as well as the opportunities. We have said it before but it deserves saying again the internet is truly the great equalizer.
My web site is at a point now that it is growing without much effort and produces a nice passive income allowing me to continue working on my second site http://home-remedies-and-natural-cures.com and to get my third site up and running. I am also working on various joint ventures with other web sites focusing on helping others start their own web business. I am doing monthly webinars helping disabled individuals start their own business on the Internet and will be starting a coaching club in the new year. The opportunities are only limited by one’s imagination.
Again I cannot thank you and Merri enough, I look forward to many great adventures and new experiences in the coming years!
We are really delighted to share Michelle’s ideas since she was originally a student of our courses on how to self publish. Here below is Michelle’s latest lesson:
Socializing Your Way to Success
By Michelle Toole
Yup, I am doing it again, another article on Social Media. You might ask, do we really need to keep talking about Social Media? To put it simply, yes. I know, I know you are likely tired of it and I have written quite a few articles on Social Media but given the climate of the economy and the direction that business is moving, its importance cannot be denied.
Oddly enough, the impetus for this article was the advent of Google +1. What is Google +1? It is Google’s attempt to break into the Social Networking arena. Or to put it simply, Google’s own version of Facebook. And when Google puts out a new product I tend to take notice.
To catch everyone up let’s define Social Media. According to Wikepia, Social Media ‘refers to the use of web-based and mobile technologies to turn communication into an interactive dialogue.’ And Social Networking refers to ‘the act of interacting and networking with others in a social online environment via the use of a website.’ So, to put it simply, people use Social Media to build Social Networks.
In today’s world things are moving very fast and that means that if you want a successful business you need to respond to these changes and take advantage of what opportunities are brought forth. How are things changing? I think we are beginning to better understand how and why some businesses are successful and why others fail. We are finding that it comes down to the basics, understanding people. So how does this alter how we approach business in this new era? Good question, and it comes down to redefining business.
As I see it, business can be defined as a group or community of like-minded individuals coming together to meet a common goal, whether that goal is the exchange of goods or information. This certainly does not negate the traditional definition of business, which is ‘an economic system in which goods and services are exchanged for one another or money, on the basis of their perceived worth,’ but it simplifies it to the true nature of the exchange.
To some of you this may seem like an odd definition, but, in truth, what any business comes down to is, well, people. Simply put business is about building relationships with people and providing them with the information or goods that they are seeking.
But what makes a successful business in today’s modern world is a company that not only provides people with what they need or want but also creates positive exchanges that benefit all parties involved. Yup, give them a quality product that meets their needs with a positive experience and you have the ingredients for a successful business.
So, how does all this relate to Social Media? Companies can no longer afford to negate the personal experience that consumers have when they engage in a business transaction. And Social Media emphasizes this point today more than ever. As a consumer if you have a bad or good experience with a company you can share that information via Social Media and that is then shared with all your friends and family and their friends and family and so on, so one transaction, good or bad, can have far reaching implications. That is powerful and understanding that power and harnessing it can have a huge impact on your bottom line. Why do you think companies are flocking to Social Media sites? It can mean big business!
With Social Media businesses can now create and tap into existing communities allowing people to not only engage in simple transactions but to become a part of a community of like minded consumers, and this can mean big returns for your business. Of course this can come with some hazards, especially if you are neglecting to understand the value of personal relationships with your customers.
A successful business comes down to building relationships with people. Period. Remember, people, your visitors, are your “bread and butter”. If you are not communicating with them then you can bet your bottom dollar you are not getting the most out of your visitors. Translation, you are losing opportunities to make money!
So, which Social Media sites should you use for your business? If you have a business or are trying to establish your own brand you should definitely be using Facebook, Twitter and Linkedin. The jury is still out on Google +1 but I am adding it to my site, why?, because it’s either going to be a flop or be a home run and it’s worth the extra hour or two to add it to my site just in case they hit this one out of the park.
Relationships are the new currency. Social networking is forcing businesses to walk the talk. It’s making business and consumer relationships real again and helping those businesses that are willing to take advantage of the power of Social Networking a true success.
You can check out Michelle’s web sites at http://healthy-holistic-living.com and http://home-remedies-and-natural-cures.com. If you are interested in Kindle conversion, Michelle can help with that too go to http://kindle.michelletoole.com.
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