Over the last several months we have discussed marketing strategies, expanding your internet presence, and promoting your books. To help you better prepare for the holidays, we have also discussed taking advantage of Lulu’s weekly discounts to not only restock your inventory for direct sales and events, but also as a means to promote your books on your website and social media outlets.
What if there was another way you could take advantage of these sales to increase your profits? A way that doesn’t require you to make a huge upfront investment on inventory, but allows you to take advantage of your author discount in addition to the Lulu discount?
“What is this magic of which you speak?”
“Drop shipping,” I respond.
Drop shipping is a retail fulfillment method where a store doesn’t keep the products it sells in stock. Instead, when a store sells a product, it purchases the item from a third party and has it shipped directly to the customer.
Let’s imagine you have a storefront set up on your website. From the storefront, you can sell your book at retail price or even at a slight discount. You collect all the buyer’s information and the funds including shipping costs. You then log into your Lulu account, place the order at your author discount plus the Lulu discount. You enter the buyer’s email and shipping address and Lulu prints and ships the book. You pocket bigger profits.
How does it work?
Let’s do the math:
Assume you are selling a 250 page, 6×9, paperback.
What if Lulu is offering a 25% discount and you drop ship the book?
You may think it’s not worth the effort to earn a few more $ € or £ per sale, but if you are taking orders for 5, 10 or 50 books, drop shipping the orders can significantly increase your profits per book – particularly if your book includes an ISBN and your revenue is subject to US tax withholding.
Besides earning higher profits on book sales, drop shipping allows you to get paid immediately. It also allows you to collect buyer contact information for future marketing campaigns. Win, win, win.
Lulu wishes you great success this holiday season. Together, we will it make the most profitable ever.