Taylor Publishing : Education : Yearbook FAQs : Financing and Sales

Your yearbook budget is like your personal budget and requires listing projected expenses and projected income. When listing expenses remember to include:

•	Printing-the basic contract price and special features you want to add to the contents or cover.
•	Photography film, processing, equipment (repair, accessories, etc.) and professional photographer fees.
•	Staff expenses -- training seminar tuition and travel expenses, state and national memberships, awards, etc.
•	Computer equipment -- disks, printers, cartridges, software, scanner, memory, etc.
•	Miscellaneous -- postage, printer paper, file folders, promotional materials for the yearbook sale, etc.

Once you've estimated your expenses, you can make a decision about acquiring finances and where your resources will come from.

How do I decide on the yearbook selling price?

The sale of the yearbook provides most of the revenue for the budget, and determining the selling price requires some calculating. For example:

•	Add all expenses.
•	Subtract revenue from fund-raisers, ad sales, etc.
•	Divide the remaining amount by the minimum number of books you expect to sell.

That will give you a starting book price.

Example:

Printing and other costs	$40,000
Other revenue/fund-raisers	$13,000
Money needed	$27,000
Divided by expected sales/600 books = Minimum selling price	$45

How do I motivate students to buy their books early?

Create a sliding scale for yearbook pricing. Let students and parents know that early purchases include a discount on the book's total price.

For example:

Early purchase	$45 if paid in full $47 if partial payment made
Late purchase (follow-up sale)	$50 if paid in full $52 if partial payment made
Books sold at delivery time	$55

How do I keep track of book sales?

If you want to track sales yourself, but don’t want to get tangled up in the paperwork of who owes what and how many have ordered what, use Taylor’s SumIt software. SumIt will sum it all up for you after you enter the information.

With SumIt you can:

•	Initially set up to three price options and indicate which Taylor accessories you will include in the price or instead offer for individual sale.
•	Import your school list into the program to jump-start your individual student input.
•	For each student, indicate price level and accessory choices as well as cover personalization choices (name on cover and icons on cover).
•	Enter the amount of money each student has paid and automatically see the balance due per student.
•	View or print individual or full school lists of money due, number of each accessory ordered, full balance due, etc.
•	And so much more!

If you would rather let Taylor take care of all of your sales for you, Smart Pay is for you. Smart Pay is Taylor’s yearbook sales service that saves you time, helps you sell more yearbooks and alleviates the headaches and security risks associated with collecting and processing payments.

Taylor’s Smart Pay service includes:

•	A customized professional mail and e-marketing campaign developed just for your school
•	Mailers & correspondence customized with your school mascot and logo (for increased response rates)
•	Multiple yearbook sales reminders and messages to reach every student in your school
•	Complete flexibility to include add-on and yearbook personalization options in your yearbook sale
•	Convenient order options for your buyers: on-line (on your personalized secure website), via phone or by mail
•	Processing of buyers’ checks and credit cards
•	A two-payment installment option for your buyers
•	Optional outbound telemarketing using non-invasive, courtesy reminder calls
•	Detailed & flexible 24/7 Internet-bases sales tracking
•	Top-notch customer service: A dedicated Smart Pay account executive will ensure your marketing campaign runs smoothly start to finish

How do I market the book?

When it comes to marketing, always remember that printing costs are based on volume. The more copies you sell, the lower the unit cost for each book. So the goal is to plan and carry out a marketing campaign that will increase sales from last year.

Timing, promotion, location and follow-up are critical to a successful sales campaign.

One fabled way to think about marketing involves the "Four Ps:" Product, Price, Place and Promotion.

You have a product to sell -- your yearbook. There are potential buyers who will pay a fair price if you promote the product properly and make the buying process easy, convenient and compelling.

Recognize that different buyers may be attracted to the yearbook for different reasons. Many people just want to see pictures of themselves and their friends. Others care about the stories of the school year, the group activities, the special events. Some simply enjoy the excitement of the yearbook signing tradition.

As you create your book and plan your promotions, be sure to incorporate all the reasons students buy yearbooks. Work especially hard to appeal to the students who might buy a yearbook but don't always do so. These students offer the greatest potential for increasing sales.

What role does timing play in a sales campaign?

Keep the following factors in mind when scheduling your primary book sale:

•	Check the school calendar for other activities and fund-raisers that require commitments. For example, if the choice is between yearbook sales and homecoming or the junior class candy sale, yearbook sales may suffer.
•	Check the local calendar for fairs, festivals, rodeos, concerts, holidays, etc. that compete for student money.
•	Run the primary campaign for a definite period of time and keep it short -- one day to one week. Running it more than two weeks reduces the impact and students may tune out.

When do we need to give Taylor the final quantity for our yearbook order?

You will establish an initial quantity in your publishing contract. You can add additional copies later depending on the success of your sales campaign. For that reason, your primary sales campaign should be completed by Taylor's quantity deadlines. In late fall (spring delivery yearbooks) or late spring (for summer/fall delivery yearbooks), you’ll confirm an exact quantity for your yearbook order. Only then can Taylor begin to print your covers, endsheets and content pages.

Exact Quantity Dates:

Spring books	December 15*
Summer/Fall books	April 1*

* Dates may be later for customers using Taylor’s Smart Pay yearbook sales service.

How do I promote the sale of our yearbook?

The week before and during the sale, promote the book heavily. You are competing for student dollars, so you must actively seek the sale. Make it interesting, clever and entertaining. Vary your promotional tools to include:

•	PA announcements
•	Posters, flyers and banners
•	Direct-mail to parents
•	Presentations to homeroom classes
•	Bulletins and press releases
•	Incentives/give-always (drawings for names on covers, Taylor promotional items, movie passes, fast-food coupons, etc.)

What are some tips for the location of our yearbook sale?

Select where you will do the selling:

•	At school registration
•	Homerooms
•	English classes
•	An assembly
•	Sales booth/table at lunch
•	Before and after school
•	A combination of locations The most important factor is to find a setting where you have undivided student attention for your sales message.

Assemblies are the most efficient; one or two presentations can reach the entire student body. Supplemental presentations to underclasses can emphasize coverage of their grade and interests. You can reach parents at PTA meetings, sporting events, theatre or music performances.

How do I target parents when selling the yearbook?

•	Set up during an open house to get parent orders.
•	Send order forms to parents with any school mailing.
•	Send a parent letter offering a student yearbook gift certificate for birthdays or holidays.
•	Taylor has an easy, no-hassle way to help you accept credit card orders called the Credit Connection. Simply use Taylor's order forms which include credit card information and send them to Taylor. Your account will be credited with the money for those orders.

How do I follow up after the first sales event?

After the initial sales campaign is complete, plan a brief follow-up to target absentees and other non-purchasers. Compile a list of non-purchasers and plan the best way to offer a last opportunity to buy the yearbook. Consider sending a letter and order form to parents, or possibly contacting non-purchasers personally. Keep the follow-up short and lively. And remember to promote before and during the sale.

How can Taylor help me sell my book?

Smart Pay is the perfect program that eliminates all the administrative and record-keeping tasks of yearbook sales, while freeing up your time to create a quality yearbook.

Here’s how it works.

Sign up for the program with your Taylor representative. Our Yearbook Processing center will send you a Smart Pay Promotional Kit. Inside you will find everything needed to conduct a successful order taking day and to track the progress of your school’s marketing campaign.

Taylor’s Smart Pay service includes:

•	A customized professional mail and e-marketing campaign developed just for your school
•	Mailers & correspondence customized with your school mascot and logo (for increased response rates)
•	Multiple yearbook sales reminders and messages to reach every student in your school
•	Complete flexibility to include add-on and yearbook personalization options in your yearbook sale
•	Convenient order options for your buyers: on-line (on your personalized secure website), via phone or by mail
•	Processing of buyers’ checks and credit cards
•	A two-payment installment option for your buyers
•	Optional outbound telemarketing using non-invasive, courtesy reminder calls
•	Detailed & flexible 24/7 Internet-bases sales tracking
•	Top-notch customer service: A dedicated Smart Pay account executive will ensure your marketing campaign runs smoothly start to finish

It's easy! Smart Pay takes care of the administrative and financial tasks behind the scenes. Now you are FREE to focus on other important aspects of creating a quality yearbook.

Can our buyers purchase yearbooks online?

Part of the Smart Pay program allows you to buy your books online. See your Taylor representative for details.

What is tele-sales?

Tele-sales is a marketing technique where potential buyers are targeted through telephone calls. For many people, tele-sales (a.k.a. telemarketing) carries a stigma -- an image of unwanted, unsolicited phone calls for products we don't want or need.

Experience with properly handled yearbook tele-sales has proven successful and unobtrusive. Parents are simply called to inform them that their student has not yet purchased a yearbook. It's important to call only during early afternoon or evening hours -- no later than 9 p.m. Introduce the call as being on behalf of the school, mention the student's name and the deadline for ordering the book. In many cases, the parents simply did not know about the yearbook sale and will be ready to purchase the book over the phone. If you would like to accept credit cards, Taylor can help you do that easily. For more information, ask your representative about how this program works.

Is there a way we can accept credit cards for yearbook orders?

Yes.Taylor can take the hassles out of credit card processing for you. Currently, Taylor accepts VISA and Mastercard orders for yearbook sales. The standard receipt book has a place for credit card information. Submit copies of credit card payments to Taylor’s Accounts Receivable Group when your sale is complete and we’ll deposit the amounts in your yearbook account.

What role does advertising play?

Since the selling price of the book usually doesn't cover all printing and operating costs, advertising and fund-raising are useful ways to make up the difference. The key is organization and attention to detail -- how much to charge, who will buy, who will sell, when to sell.

For some yearbook advertisers, the ad is an excellent way to reach their primary audience-- teenagers. These advertisers include: dentists, orthodontists, music stores, clothing stores, car dealers, fast food restaurants and any other teen-oriented businesses. Other businesses recognize the benefit and importance of community/school support and proudly advertise for the PR benefit.

Complete details on soliciting advertisers is covered in Taylor's Yearbook Marketing Guidebook

How do I determine ad rates?

One page of advertising should pay for itself and at least two other pages.

To determine page cost divide the cost of producing the yearbook by the number of pages in the book.

Cost of Producing the Yearbook

Number of pages/300	$24,000
Cost per page	$80
One advertising page	$220

Price smaller ads so the prospective advertiser has an incentive to buy a larger ad. The parts should add up to more than the whole.

Page Cost	$80
Cost of full-page ad	$220
Cost of 1/2-page ad	$120
Cost of 1/4-page ad	$70
Cost of 1/8-page ad	$40

Who are my potential advertisers for different types of ads?

•	Commercial ads -- local merchants and regional businesses
•	Patron ads -- professionals who do not normally advertise commercially (dentists, doctors, orthodontists). These can be as simple as printing the patron's name at the top or bottom of a yearbook page.
•	Organization ads -- school, church and civic organizations.
•	Senior ads/Personal Ads -- messages from parents/relatives of seniors or other students with or without baby or other pictures. These have proven to be very popular where schools have used them.
•	Friendship ads -- friends who purchase space for a group shot or good-bye messages

How do I organize my staff for ad sales?

Create an ad sales force by deciding who will sell ads. Two suggested team organizations are:

•	All members of the yearbook staff sell ads and help with fund-raising projects. They know where the money comes from and the effort required to generate it, which gives them a vested interest in staying on budget.
•	Use only staff members who want to participate or who can be motivated through incentives.) Incentives can include grade points, a free yearbook, cash, prizes, recognition or an off-campus pass.

What does my sales team do after they're organized?

Train teams before beginning sales

•	Role play to learn how to approach potential advertisers.
•	Categorize common objections and prepare appropriate responses.
•	Make sure everyone knows how to price ads and fill out contracts.
•	Discuss appearance and set guidelines as a group.
•	Look at last year's ads and plan first to renew advertisers from last year. Photograph students at advertiser locations. This increases coverage and improves advertising effectiveness.

Set deadlines and quotas for each team

•	Make each team or person (if your staff is small) responsible for selling a minimum number of ads.
•	Offer incentives such as fast-food coupons, movie passes, etc. for exceeding goals.

Each team should have a list of:

•	Prospects
•	Renewals from the previous year
•	Specific area/territory in which to sell

Each salesperson should have a folder with:

•	Prospect list
•	Ad size samples with rates
•	Any marketing surveys available on teenage spending locally and nationally
•	Ad contracts
•	Last year's book
•	Map of the territory

How do I collect the ad money?

It's best to collect for ads at the same time of the sale. If not, establish a payment deadline and finalize the advertising section to include only those businesses paid in full.

How do I prepare the ad section?

Work with layout and copy editors to design pages and prepare copy. Consider adding feature stories to the ad section to make it more interesting and to eliminate advertisers' complaints that they are simply donating money.

What are some ways to do fund-raising?

If additional funds are still needed to balance the budget, consider fund-raising projects such as:

•	Print additional copies of group/team photos and sell them.
•	Sell extra, unused pictures.
•	Sell "Friend of the Yearbook" listings for $3-$5 each.
•	Sell personalized names on covers. (For spring, submit by December 15. For summer/fall, by April 1).
•	Sponsor a fun run for students and/or the community (Runner's World magazine has information available in every issue).
•	Host a car wash, garage sale or bake sale.

How do I distribute the books in an organized and simple way?

Organization is essential.

•	Everyone on staff should be on hand to help with distribution.
•	Print a complete, alphabetical list of those who purchased a yearbook and double-check your list against the number of books delivered with names and non-personalized. You can do this easily with Taylor’s SumIt sales tracking software.
•	Create separate lines for personalized books. Stack books alphabetically.
•	Establish more than one line for non-personalized books. Small schools can divide the alphabet from A-L and M-Z, creating two lines. Larger schools will probably need more divisions.
•	Schedule an hour before or after school to pass out books. It will lessen disruption of classes and reduce the chance of stolen books.
•	Anyone picking up a book for someone else (student who graduated or moved away) should have a picture ID and a note signed by the purchaser. Note the ID and file the information away for possible future reference. This transaction should be made by the yearbook adviser.
•	Label books that have been sold, but not picked up and lock them away.
•	If there are extra books, sell them at a premium price to dispel the idea that there's no penalty for waiting to buy the book.
•	Save three to seven complimentary copies for the school office, library, school board office, etc.

What is Taylor's Investment Program?

Taylor's Investment Program is a program designed to put a school's yearbook money to work. Taylor pays interest on every dollar a school invests above the required deposit received before Dec. 31. The earned interest is deposited directly to the yearbook account, reducing the yearbook cost. The additional funds can be used for more pages, a better cover or more color. You'll receive a mailing in the fall stating the current interest rate.