Wednesday, May 18, 2011

Book Marketing Strategies Found in a Casino

I have been marketing and promoting authors and books for the past two decades and it occurred to me on a recent trip to the Mohegan Sun Casino that many similarities exist in one’s approach to gambling and book publicity. Here are few observations I would like to share with you:

  1. Don’t bet what you can’t afford to lose.  Lesson:  Invest your time and resources to support your book but don’t mortgage your house or quit your day job to do so.

  1. Never put all of your chips on one bet.  Lesson:  Don’t pin your hopes and dreams on one particular media outlet.  Go after big, medium and small wins.  They all add up.

  1. Diversify your efforts and play more than one type of game. Lesson:  Don’t focus all of your efforts solely on blogging or in just seeking out TV interviews. Instead, approach a number of mediums – local and national (radio, print, radio and online).

  1. Be aware the odds are not stacked in your favor.  But the only way to win it is to be in it.  Lesson:  You need to catch a lucky break and it can only happen when you play the game and not sit on the sidelines.

  1. Look before you leap. Watch the betting strategies of others before you play. Lesson:  Observe, learn, and then live it.

  1. Don’t bet on something you don’t understand or feel comfortable with. Lesson: Only market and promote in a way you feel secure in; otherwise hire a professional or avoid it.

  1. Enjoy the win.  Celebrate!  Lesson:  When you do experience success in your PR and marketing, celebrate it and value the moment.

  1. Play the hot hand.  Lesson:  It may be luck or skill or being in the right place at the right time but whatever it is, keep doing what works until it doesn’t.

  1. Take a risk – the reward can be huge.  Some bet on the long-shot knowing if they win they get a huge payoff.  Lesson:  Take a chance on the long-shots and enjoy the reward if it comes through.

  1. Know when to walk away.  In gambling, the more time spent betting, the more likely you’ll lose.  In marketing and PR, the opposite is true -- you need to keep at it to have a chance at success.  Lesson:  In either scenario, assess where you’re at regularly and know when it’s time to call it quits.

In case you were wondering: I won 50 bucks at the Roulette Wheel – after being down $250 and got to walk away feeling like a winner

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