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Bookers' Den marketing plan
- 4. Who are we? Bookers’ Den – Let the books be found. A place to freely exchange books and an emerging readers’ community
- 5. Executive Summary 1. VISION “To build a platform where people with similar interests in books can communicate with each other and hence build a library in every corner of the world, access to which can be carried around in the pocket.”
- 6. 2. MISSION “To bring back the conventional paperback reading culture by solving the problems of the readers like- high costs, storage space requirements and proper disposal of the collection.” Executive Summary
- 8. 1. COMAPNY OVERVIEW Situation Analysis Bookers’ Den provides a medium to freely exchange books and builds hyper local communities around the books. This product being one of its kind provides a service “for the people, by the people”. Bookers’ Den is an App that lets you share, lend, discount or exchange the books in their paperback format . It currently runs as an App and will soon expand to the desktops as well. The product is an emerging giant in this market, with very little potential competition.
- 9. 1. MARKET OVERVIEW Situation Analysis Bookers’ Den is made to serve reading enthusiasts, amateurs, authors and the budding writers. Bookers’ Den as of now has very few competitors, “Barter.li” being the most remarkable one. Bookers’ Den is an App based service and will soon expand to its desktop version as well. Kindle and the other e-book platforms pose maximum threat to the company.
- 10. 1. TARGET CONSUMERS Situation Analysis People who don’t want to or cant afford buying new books every time and find e-book version hard to read. People who like the conventional paperback forms. People looking for like minded folks to chat with and explore new books. People who have a huge collection of books and need a proper means to operate it.
- 11. GOALS
- 12. Goals Monthly Recurring Revenue (MRR)- $73,500 Sign ups per months- 3000 Conversions rate per month- 20% Churn rate- 3-4% Total books scanned per month- 10,000 Tentative deadline- February 2018
- 15. Strategy CUSTOMERS Lower income groups Literary enthusiasts Having huge collection Amateurs Authors •Discounts •Cheap exchange and borrowing •Lending books in exchange for money •Exploration of new books •Recommendations •Readers’ community • Means to operate it. •Refresh their collection •New books •Suggestions •Promotion •Reviews
- 16. Strategy Collaborators E-payments partners like PayPal, Paytm etc. Students’ unions and councils from various colleges and schools Content marketing agencies for blogs and promotions. Review websites for gaining credentials.
- 17. Strategy Competitors Barter.li App Amazon Kindle Other e-book reading platforms Local libraries
- 19. Strategy VALUE PROPOSITION Customer value- To promote literacy and the love of reading by creating a free book exchange which is ‘for the people, by the people’. We want to be able to share, lend, discount or exchange these physical books within our community. Collaborator value- Provide an equal platform of opportunities and profits for our collaborators. An annual share in profit for the college or school unions helping us. More sign ups and transactions fro e-payment partners. Company value- Provide an atmosphere of growth, a platform to showcase talents and creativity for the employees. Financial and corporate appraisal with that of the company ‘s in the coming years
- 20. TACTICS
- 21. Tactics PRODUCT Free exchange of books (over limited time) Borrowing and lending books at discounts. Paperback formats only COSTS- Freemium plan Leo plan - $2 per month Darwin plan- $4 per month Rowling plan - $5 per month
- 22. Tactics SERVICES Free exchange of upto 2 books per month Borrowing and lending books 4 books per month at most Borrowing and lending books 6 books per month at most Borrowing and lending books unlimited books per month at most COSTS- Freemium plan Leo plan - $2 per month Darwin plan- $4 per month Rowling plan - $5 per month
- 23. Tactics Brand BOOKERS’ DEN “Let the books be found” Because we owe these books our bit and we’d never let them die!
- 24. Tactics PRICES Freemium plan Leo plan - $2 per month Darwin plan- $4 per month Rowling plan - $5 per month
- 25. Tactics INCENTIVES Discounted books Better market place for old collections E-payment available E-payment discounts Referral bonuses
- 27. IMPLENTATION
- 28. Implementation INFRASTUCTURE Technical team Marketing team Sales team Project managers • App development • Website setup • Additional features and updates. •Product launch •Promotions • Reducing the churn rate • Revenue maximisation • Partnerships • Deals • Collaborations
- 29. Implementation PROCESSES Designing the technical front Implementing the algorithms Testing on a small segment Promoting the App Launch (with freemium plan for unlimited books) Partnerships and collaborations for further marketing Introduction of premium plans Discounts and deals Website extension
- 30. Implementation SCHEDULE • February 2016Designing the technical front • March 2016Implementing the algorithms • 15 April 2016Testing on a small segment • 15 May 2016Promoting the App • May 2016Launch (with freemium plan for unlimited books) • June 2016Partnerships and collaborations for further marketing • 20 June 2016Introduction of premium plans • 30 June 2016Discounts and deals • September 2016Website extension
- 31. DISCLAIMER Created by Smriti Tomar, NIT Bhopal, during a marketing internship by Prof. Sameer Mathur, IIM Lucknow.