I've been a fan/student/follower/friend of Roy Williams, The Wizard of Ads, since around 2002.
In this conversation, Michael Drew shares his decades of experience in the publishing industry, particularly in making books New York Times bestsellers.
He discusses the strategies he employed, the economics of book publishing, and the evolution of the industry over the years.
Drew emphasizes the importance of understanding the market dynamics and distribution channels for authors aiming for success.
We explore the intricacies of thought leadership, marketing strategies, and the importance of building genuine relationships with customers.
We discuss the distinction between transactional marketing and relationship marketing, emphasizing the need for emotional security and intimacy in business interactions.
The conversation also touches on the challenges faced by small businesses in navigating the marketing landscape and the significance of effective communication in fostering long-term customer relationships.
Michael Drew has been involved in publishing since he was 19.
He successfully launched his first New York Times bestseller in collaboration with Roy H. Williams.
The marketing cost of a book often outweighs the revenue from sales.
Understanding the rules of the publishing game is crucial for success.
Distribution is key; most books still sell through traditional retailers.
The publishing industry has seen a dramatic increase in the number of books published since 1980.
Authors need a solid marketing plan to ensure their book's success.
Co-op marketing is essential for gaining shelf space in stores.
The first 60 to 90 days are critical for a book's sales performance.
Books are 100% returnable by retailers, impacting inventory management. The objective of thought leadership is to build relationships, not just sell products.