The Market Analysis of your book proposal has to do with all of that research you did for your target reader. The industry wants to know who is going to buy your book because then they’ll have a better understanding of where it fits in their company…or if it fits.
So, if you didn’t do your target reader poster, now is the time to ask these questions about your target audience:
- What is the age range of your target audience?
- What type of story are they interested in? Of course, you’ll want to make sure they are interested in the concepts of your manuscript.
- Christian or Non-Christian?
- Ebook or Paperback?
- Social media they hang out on?
- Their job?
- Where do they shop for books?
Again, this will help you if you’re self-publishing as well. How do you target your book to this type of audience? What strategies will you use to get them to buy your book? How can you target their social media, stores, book format, etc.?
Here’s the rough draft of my Market Analysis.
Females ages 30-60, interested in modern romance
Females ages 30-60, interested in small town romance
Females ages 30-60 interested in romantic triangles
White-collar job such as teachers and real-estate agents
Social media: Facebook, Twitter, and Pinterest
Shops at: Target, Wal-Mart, Khols, and Target
This brings us to next week’s topic: Marketing Strategies. This is the selling point for proposals in my opinion. First you have to interest them when your story, but then you have to show them you know how to sell your book. In the end, it boils down to how many books you can sell so that everyone gets back their investment in the project.