If you’re going to get serious about stepping up your author marketing and platform-building strategies—whether pre-pubbed or pubbed—then the savvy thing to do is budget.
Now I’m no Dave Ramsey, so this is not a post on the specifics of budgeting. Really, if you want hard core budget help, you should go to someone who is better at saving receipts than I am.
BUT I have come up with a writing budget that works well for me, and as I’ve moved along on the road to publication, marketing has begun to take up a bigger chunk of that budget. Nothing astronomical, for sure, but it’s still good to plan for and track marketing expenses.
As you consider your own marketing budget, here are some factors to take into consideration.
1) Decide which marketing avenues best fit your personality, your schedule, and your available resources. And then ask yourself, which of these avenues is going to require a little mullah. Examples of not-so-free marketing efforts:
• Website design—Your expenses could be all over the board here. You can always set up a free blog site, but even this may come with some costs if, for instance, you decide to purchase your own domain name.
• Networking & Events—In-person marketing is wonderfully effective, but attending writing conferences and book fairs, throwing launch parties, even purchasing prizes or goodies for book signings, it all takes money.
• Headshots and Publicity Photos
• Conference Materials—Business cards, pitch-sheet design and/or printing, etc.
• Advertising—Depending on your publisher, the marketing department may take out ads in print or web publications. But you’ve certainly got the opportunity to take out your own ads in local publications, e-zines, popular writing websites, etc.
• Organization fees—Participating in a writing organization IS a marketing tool. But organizations often have fees or dues.
2) Take a realistic look at your overall budget and figure out how much money you can afford to put into marketing. Here is what has worked well for me:
• I reviewed my monthly income a year or two ago and decided to set a certain amount of money aside each month for “writing.” In the beginning, this money paid for me to attend writing events, but as noted above, now a bigger chunk is going toward marketing efforts.
• When I’ve received extra money on the side—annual bonuses at my day job, tax refunds—I threw all that into my writing pot, as well.
• I received my first book advance check last fall. I’d decided long ago that if I was ever to receive a book contract, I’d put my advance money right back into supporting my writing career.
Now I have a pool of money—not tons, mind you, but it’s something to work with—to support my writing efforts. Personal circumstances will differ from person to person, of course. For instance, I don’t have a family to support so I’m a little freer with my finances. (Although, I also work at a nonprofit, sooo… ☺ )
But whatever situation you’re in, discover what works for you. Don’t stress out if the amount isn’t large. The purpose isn’t to break the bank on marketing, but simply to make the wisest use out of the dollars you’ve got.
3) Now review your list of marketing strategies from above and figure out where to put which dollars and when. The key here is to decide which efforts are going to give you the most bang for your buck. Some tips:
• Ask around. What has worked well for other authors? Do they feel any particular marketing strategies aren’t worth the effort?
• Pool your resources. Is there are way to spread out expenses by shared efforts with other writers? Could you save on dollars by “trading favors” with others? For instance, maybe you’ve got impressive graphic design skills and a fellow writer is also a photographer. Consider offering to design a pitch-sheet or logo in exchange for a photo shoot.
• Distinguish between one-time expenses and ongoing.
• Think ahead. Don’t spend money now on a low-ROI marketing effort if you know you’ve got a big conference or book releasing down the road. Strategize.
• Track your efforts! You won’t know if your marketing dollars are paying off if you don’t track the results of your efforts.
Again, every author’s financial situation when it comes to platform-building is going to be different. The good news is, even if you’re unable to set aside many funds for marketing, there is SO much authors can do marketing-wise today that doesn’t cost anything—social media being at the forefront, of course.
However, free marketing efforts can sometimes be the most time-consuming. (Facebook, anyone?) That’s why it’s important, in addition to budgeting your marketing dollars, to also budget your marketing time. And that’s what we’ll talk about next week!
For now, do you have any questions about budgeting in relation to marketing and platform-building?
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Melissa Tagg is a former reporter turned romantic comedy author. Her debut novel, Made to Last, releases from Bethany House in September 2013. In addition to her nonprofit day job, she’s also the marketing/events coordinator for My Book Therapy. Connect with Melissa at www.melissatagg.com and on Facebook and Twitter (@Melissa_Tagg).