AAP Consumer Data Presentation, April 7, 2011

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AAP Consumer Data Presentation

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  • New digital technologies, combined with widespread adoption of the internet, are fundamentally changing traditional publishing practices. As new digital markets spring up, and traditional print markets shrink or remain flat, publishers are re-inventing how they acquire, market, and sell their titles. While this trend has many effects, one thing is clear: now more than ever it is essential for publishers to understand the consumers who buy and read their titles so that they can meet their changing needs.
  • Tilting the lens from sources of influence and recommendation, here we look at precisely where kids are getting their books. Note that the library is a key source at this age.
  • AAP Consumer Data Presentation, April 7, 2011

    1. 1. &<br />Present: New Ways to Understand Shifting Book Sales Channels<br />April 7, 2011<br />
    2. 2. James Howitt–Director of Publishing Services, Bowker<br />James oversees the client relationship of a host of Bowker business intelligence services, including the PubTrack consumer research panel reaching annually over 40,000 ‘e’ and ‘p’ book consumers. In addition to being involved in the consumer research panel, he oversees sales data collection and analytics tools for the higher education and trade book markets for Bowker. Before his current position James served for Nielsen BookScan UK and US managing client relationships with Point of Sale data.<br />Ted Hill-President, THA Consulting<br />With over 25 years experience in the publishing industry, Ted has launched dozens of new businesses and business initiatives. As a business development consultant with deep knowledge of the publishing and information industries Ted is a frequent speaker at industry events on the subject of publishing technology.<br />2<br />Presenters<br />
    3. 3. Agenda<br />Introduction to consumer data<br />Background on the best practices<br />Introduction to howbook consumer data is used sales and marketing professionals<br />Essential facts<br />Key trends<br />Diving deeper<br />
    4. 4.
    5. 5.
    6. 6. 6<br />
    7. 7.
    8. 8.
    9. 9.
    10. 10. 10<br />
    11. 11.
    12. 12.
    13. 13.
    14. 14.
    15. 15. Tracking customers across different types of accounts<br />Projecting Impacts of shifts in consumer behavior on product lines<br />Projecting growth/decline based of categories based on demographic trends<br />Understanding why titles were bought when<br />Identify price paid per unit<br />Identifying lifetime value of customers<br />Selecting comp titles based on reader demographics<br />Understanding the reasons for purchase and purchase intent<br />Field Testing<br />Market basket analysis <br />Identifying new opportunities<br />Diving into book behavior<br />Usability Studies<br />Industry Key Performance Indicators<br />Consumer Bookshelves<br />Advertising and Social Media Book Awareness<br />Purchase Metrics<br />Standard Reports<br />All Custom Reports<br />Pricing Strategies<br />Genre Profiles<br />Quarterly Consumer Landscape – demographics, book, channel, genre, behavior trends report<br />Purchase Dynamics and Influences <br /> -Planned vs. Impulse<br />Channel Analysis<br /> -Market Share<br />Customer Value/Migration<br />Occasions/Shopping<br />Custom Reports<br />Book Cover and Package Design<br /> - Cover Image Testing<br /> - Page Layout Testing<br /> - Product Design<br />Author Profiles<br />BISG’s Consumer Attitudes Toward E-book Reading Study<br />Book Lover Panels<br />Campaign Level Custom Projects<br />Character Profiles<br />BISG’s Student Attitudes Toward Content in Higher Education Study<br />Customer Satisfaction<br />Series Profiles<br />Usability Studies<br /> - Web Testing<br /> - App Testing<br /> - Page Flip Technology<br /> - Product Usability<br />
    16. 16. Tracking customers across different types of accounts<br />Projecting growth/decline based of categories based on demographic trends<br />Using Consumer Data<br />Projecting Impacts of shifts in consumer behavior on product lines<br />Development<br />Planning<br />Acquisitions<br />Marketing<br />Sales<br />Understanding why titles were bought when<br />Identify price paid per unit<br />Identifying lifetime value of customers<br />Selecting comp titles based on reader demographics<br />Understanding the reasons for purchase and purchase intent<br />Field Testing<br />Market basket analysis <br />Identifying new opportunities<br />Diving into book behavior<br />Usability Studies<br />Industry Key Performance Indicators<br />Consumer Bookshelves<br />Advertising and Social Media Book Awareness<br />Purchase Metrics<br />Standard Reports<br />All Custom Reports<br />Pricing Strategies<br />Genre Profiles<br />Quarterly Consumer Landscape – demographics, book, channel, genre, behavior trends report<br />Purchase Dynamics and Influences <br /> -Planned vs. Impulse<br />Channel Analysis<br /> -Market Share<br />Customer Value/Migration<br />Occasions/Shopping<br />Book Cover and Package Design<br /> - Cover Image Testing<br /> - Page Layout Testing<br /> - Product Design<br />Custom Reports<br />Author Profiles<br />BISG’s Consumer Attitudes Toward E-book Reading Study<br />Book Lover Panels<br />Campaign Level Custom Projects<br />Character Profiles<br />BISG’s Student Attitudes Toward Content in Higher Education Study<br />Customer Satisfaction<br />Usability Studies<br /> - Web Testing<br /> - App Testing<br /> - Page Flip Technology<br /> - Product Usability<br />Series Profiles<br />
    17. 17. Balancing the art and science of publishing<br />
    18. 18. Background on the best practices<br />“In a world awash in data, we need to know what’s essential and what’s a distraction.”<br />-Publishing Executive<br />
    19. 19. 2010 Annual Consumer Sample & Methodology<br /><ul><li>45,000 US book buyers annually
    20. 20. 6,000 US book buyers per month (starting Jan 2011)
    21. 21. Selected according to Age, Gender, Income, Household size, and location balanced to US Census
    22. 22. Representing an annual view of 250,000 book purchases and 90,000 shopping occasions
    23. 23. All purchases collected at ISBN level using Bowker’s Books in Print Web Services
    24. 24. Online survey conducted monthly
    25. 25. Ages 13 & older
    26. 26. 97% confidence rating
    27. 27. 2.5% margin of error</li></li></ul><li>Began project in fall of 2009<br />Goal was to look at how consumer data is used throughout the organization<br />Conducted interviews with executives in different functional areas (editorial, sales, marketing, etc.)<br />White paper released April 2010<br />A lot’s changed since then!<br />20<br />Background on the best practices<br />
    28. 28. Introduction to consumer data<br />New technologies are changing traditional publishing practices<br />Consumer data is rapidly becoming an essential tool for all stages of the publishing process<br />Reveals who buys books and why they choose the titles they buy<br />It’s utility varies depending on the job and business goals of the person using it<br />The value comes from knowing the essential facts following key trends, and diving deeper into the data to solve specific business problems<br />
    29. 29. Consumer data validates & provides context<br />
    30. 30. Using book consumer data<br />Understand the essential facts about book consumers<br />Follow key trends in how they are changing who and what they buy<br />Know how and when to dive deeper into the data to solve business problems<br />
    31. 31. Understand the essential facts<br />“We keep our finger on the pulse with POS data. Then we use consumer data to tell us who’s buying what and why?”<br />-Data Analyst<br />
    32. 32. Understand the essential facts<br />
    33. 33. Essential facts for marketing<br />How channel customer demographics, and motivations to buy differ from one genre or category to another and from one account to another<br />How average selling price and format preferences for books differ from one channel to another<br />Factors that influence purchase decisions or where different demographic groups learn about new titles<br />
    34. 34. Essential facts for sales<br />How the demographic profile of the consumer who buys a book at Target differs from the typical Wal-Mart consumer or from the consumers at one of the large book chains<br />For which genres and categories is in-store display most important<br />The best times of year to sell to a particular group of consumers<br />
    35. 35. Who is the graphic novel buyer?Full Year 2010 – Books Purchased<br />
    36. 36. Who is the graphic novel buyer?Full Year 2010 – Books Purchased<br />
    37. 37. Who is the graphic novel buyer?Full Year 2010 – Books Purchased<br />
    38. 38. Where are they shopping? Full Year 2010 – Books Purchased<br />
    39. 39. What formats are they buying? Full Year 2010 – Books Purchased<br />
    40. 40. Why do they purchase? Full Year 2010 – Books Purchased<br />
    41. 41. How do they become aware? Full Year 2010 – Books Purchased<br />
    42. 42. How impulsive are fiction buyers? Full Year 2010 – Books Purchased<br />
    43. 43. Let’s break if we want to<br />
    44. 44. Follow key trends<br />“We’ve always assume that trade paperbacks are bought by Gen Xers and Gen Ys because they’re cheaper, but that’s just not the case anymore.”<br />-Marketing Director<br />
    45. 45. Follow key trends<br />Are the readers and buyers of your books changing as a group?<br />Will there be more or fewer of them in the future?<br />Are they changing how and where they buy their books?<br />Will it be easier or harder to reach them in the future? <br />
    46. 46. Key trends for marketing<br />Both seasonal and long term sales trends <br />Pricing trends--shifts in average selling price, frequency of purchase, purchases per shopping trip, and market baskets<br />All trends related to where consumers learn about books and authors<br />All trends related to who learns about books online (social media, etc.)<br />
    47. 47. Key trends for sales<br />Demographic trends for book consumer and sales channels<br />Pricing trends for different formats and genres<br />Shifts in frequency of shopping, purchases per visit or size of the average market basket <br />Seasonal and regional trends<br />Shifts to buying and reading online for different categories<br />
    48. 48. How much are consumers paying for young adult titles?<br />41<br />
    49. 49. Ebook buyer trends<br />
    50. 50. How are those trends changing?<br />
    51. 51. Online influence vs. traditional print/media<br />44<br />Bowker PubTrack™ Consumer - © 2010<br />
    52. 52. Know when & how to dive deeper<br />“I’d like to know if some readers are just more profitable than others.”<br />-Publisher<br />
    53. 53. Know when & how to dive deeper<br />Should we publish more or fewer titles in a category or format?<br />How can we allocate our marketing resources to get the most sales?<br />Are we pricing our books appropriately?<br />Are there ways we can change our publishing strategy to increase revenue or reduce returns?<br />What’s the best cover image, web design, ad copy, or shelf placement for a title?<br />
    54. 54. The bulls eye pattern of influence<br />websites, advertising<br />friend, relative<br />teacher, librarian<br />Influence declines significantly with each layer<br />parent<br />child<br />Local bookseller<br />favorite author<br />mass media, the world<br />
    55. 55. Where are children’s books purchased? Full year 2010 <br />
    56. 56. Libraries dominate as a source for books for ages 7 to12<br />
    57. 57. Who buys specific fiction genres?Gender of fiction sub-genres based on units in Q4 10<br />Mystery Espionage<br />
    58. 58. Who buys specific fiction genres?Age of fiction sub-genres based on units in Q4 10<br />Mystery Espionage<br />
    59. 59. Who buys specific fiction genres?Income of fiction sub-genres based on units in Q4 10<br />Mystery Espionage<br />
    60. 60. Where do people shop?Gender by outlet based on units in Q4 10<br />
    61. 61. Where do people shop?Age by outlet based on units in Q4 10<br />
    62. 62. Where do people shop?Income by outlet based on units in Q4 10<br />
    63. 63. 56<br />How do my genres match the outlets that people shop at?<br />
    64. 64. The value for marketing<br />“We make a huge number of assumptions and rely on anecdotal information. I’d like to know who really buys what in each account.”<br />-Marketing Executive<br />
    65. 65. The value for marketing<br />Need to be able to understand how customers and channels differ so they can allocate resources effectively<br />Can use consumer data to understand where consumers learn about books and what motivates them to purchase<br />Can follow book consumer trends to take advantage of shifts in formats and price points<br />Can use consumer data to confirm that cover designs, price points, and formats fit a particular channel or reader<br />
    66. 66. The value for sales<br />“In order for any set of data to be actionable, you have to have a realistic picture of who you’re selling to. You’ve got to track those groups. Our sales guys find it very actionable. You can sit down with Wal-Mart and say ‘Here’s what’s going on with your customers.’”<br /> -Vice President, Sales<br />
    67. 67. The value of for sales<br />Need the deepest understanding of who shops at the accounts they cover and how that fits with the books they are trying to sell<br />Can use consumer data to support the sales process and have more productive discussions with retail buyers by increasing their confidence that a book is a good match for their customers<br />Can use consumer data to make the most of both long term and seasonal trends<br />Can use consumer profiles to tailor product lines or special promotions to the consumers who shop at a particular account<br />
    68. 68. “When it comes to groups of consumers at a particular account, we look at three points: traffic, spending, and frequency of purchase. If 2-3 of these are on an upward trend, then your business is humming. If 2-3 of these are on a downward trend, then your business is tanking.”<br />
    69. 69. 62<br />Questions?<br />
    70. 70. Thank you!<br />www.bookconsumer.com<br />PubTrackInfo@bowker.com<br />@bookbuyrinsight<br />
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