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    4 a.1 4 a.1 Presentation Transcript

    • Growing your businessin new marketsA guide for smaller publishers Sarah Durrant Red Sage Consulting SSP Annual Meeting May 27-29th 2009Copyright Red Sage Consulting SSP Meeting 2009
    • I apologise for the bare nature of theseslides - the images used in the original version of this presentation have been removed to avoid copyright infringement.Copyright Red Sage Consulting SSP Meeting 2009
    • About me…• 20 years in information industry• Consultant in scholarly information sector• Secretary General of Association of Subscription Agents & Intermediaries [part time]• Recent adopter of retired racing greyhoundCopyright Red Sage Consulting SSP Meeting 2009
    • About this talk…•Context•What do we want to achieve?•Where will we have the most impact?•Who are our customers?•What are our key messages?•Who are our potential partners?•SummaryCopyright Red Sage Consulting SSP Meeting 2009
    • Context• Traditional journal markets have matured - limited/slow/no growth• Economic downturn presents threats…• … and opportunities: ü leverage business in under-served markets ü‘ offset’losses in depressed markets ü‘ seed’emerging and immature markets ü enhance staff knowledge and expertiseCopyright Red Sage Consulting SSP Meeting 2009
    • What do we want to achieve?Copyright Red Sage Consulting SSP Meeting 2009
    • New businessü Grow subscriptions/revenuesü Build brand presence/awareness for wider international: – readership – authorship – membershipü Identify individuals for future marketing communicationsü All of the aboveCopyright Red Sage Consulting SSP Meeting 2009
    • Existing businessü Increase awareness and usage (secure renewals)ü Facilitate migration to onlineü Reactivate lapsed subscribersü Encourage renewalsü Establish why customers have cancelledü Gain feedback from key customers (e.g. outlook 2010-2011)Copyright Red Sage Consulting SSP Meeting 2009
    • Where will we have the most impact?Copyright Red Sage Consulting SSP Meeting 2009
    • Where to start?• Clearly, not all countries have the same potential – everywhere outside North America? – one particular region e.g. Asia, Latin America? – specific countries e.g. South Korea, Mexico?Ø Profile countries using a common set of metrics…Ø … using indicators relevant to your market sectorCopyright Red Sage Consulting SSP Meeting 2009
    • Metrics (examples)• Population• Status of English • % tertiary students in science, engineering• Political stability • Numbers of med.• GDP growth schools• HDI value and ranking • R&D expenditure• UN Education index • Internet users• Govt. spending • etc. on tertiary educationCopyright Red Sage Consulting SSP Meeting 2009
    • Local market intelligence(examples)• Currency - recent history, stability, value against dollar e.g. recent 26% fall in South Korean Won• Extent of exposure to economic downturn e.g. India buoyant, Japan depressed (China vulnerable?)• Teaching and research: status and trends e.g. disciplines, funding etc.• Journal-specific market intelligence e.g. importance of: e-only; perpetual access rights; local archiveCopyright Red Sage Consulting SSP Meeting 2009
    • Resources (examples)• World Bank/WHO/UN • ISI data data • OCLC data• Bloomberg • Industry reports• Reuters• The Economist.com • Consortium Purchasing Directory• SciDevNet • Identify (Ringgold)• BBC/CNN etc.• Newspaper websites • MasterVision (Datasalon)• Govt. development • etc. departmentsCopyright Red Sage Consulting SSP Meeting 2009
    • Outcomes…Ø Prioritise a single region e.g. SE Asia ahead of eastern EuropeØ Prioritise countries within a region e.g. South Korea and Taiwan but not IndonesiaØ Target key countries from several regions e.g. Brazil, India, China, RussiaØ Consider discounted access e.g. for countries with transitional economiesØ Provide free/low-cost access e.g. to countries with developing economiesCopyright Red Sage Consulting SSP Meeting 2009
    • Who are our customers?Copyright Red Sage Consulting SSP Meeting 2009
    • Known knowns…ü Current subscribers (upselling)ü Members • Specialist tools forü Authors analysing this data e.g.ü Pay per view customers – Ringgold Identifyü Contacts/alerting – Datasalon MasterVision recipients – etc.ü Other prospectsü Lapsed and cancelled subscribersü Who else?Copyright Red Sage Consulting SSP Meeting 2009
    • Known unknowns…Within target countries:• Academic libraries, consortia• Research institutes • Research undertaken:• Corporations ü in-house• Govt. departments, ü by consultant NGOs, etc.• Highly-cited authors and institutes• Authors in competing/related journals• Potential sales partnersCopyright Red Sage Consulting SSP Meeting 2009
    • What are our key messages?Copyright Red Sage Consulting SSP Meeting 2009
    • Messages (brand)• Useful opportunity to revisit/develop your brand• Its a busy market –stand out in the crowd• Emphasise international credentials...• … and local relevance ü editorial board ü authors ü contentCopyright Red Sage Consulting SSP Meeting 2009
    • Messages (content)Buyers (librarians) Users (readers, authors)ü value ü qualityü quality/pedigree ü currencyü imprint/brand ü imprint/brandü impact factor ü high profile authors/papersü positive quotations from ü local editorial board other librarians/consortiaü research resource ü functionality (RSS feeds etc.)ü teaching support ü impact factorü etc. ü local language versionsCopyright Red Sage Consulting SSP Meeting 2009
    • Messages (services)• Offer pricing models appropriate to the market• Emphasise – customer choice e.g. print only; print + electronic; e-only; backfiles; – customer benefits e.g. positive licensing; perpetual access rights; permanent archiving strategy – customer service and support e.g. local language and time zone (if using partner)Copyright Red Sage Consulting SSP Meeting 2009
    • Potential partnersCopyright Red Sage Consulting SSP Meeting 2009
    • What are our options?•Employ an international sales team•Join (or create) a publisher consortium•Find one or more local sales partnersCopyright Red Sage Consulting SSP Meeting 2009
    • Why work with a partner?• Licence negotiations entail time and resources: – specialist skills and knowledge – time zones, languages, cultural sensitivities – local market knowledge• Can this realistically be resourced in-house…• … across all markets?• … effectively and efficiently? QuickTime™ and a decompressor are needed to see this picture.Copyright Red Sage Consulting SSP Meeting 2009
    • Sales agents: benefitsü Get you a place at the negotiating tableü Make salesü Develop long-term customer relationshipsü Advise on local market conditions (all sectors)ü Advise on pricing and related mattersü (Potentially) assess and restructure existing dealsü Give you regular information and feedbackü May offer useful ‘ extras’ e.g. local language marketing, exhibition attendance etc.Copyright Red Sage Consulting SSP Meeting 2009
    • Sales agents: caveats• Don’underestimate resources required t to manage sales partnership/s• Maintain direct involvement with market and customers• Ensure you get action not just words ü initial contract 2-years maximum ü include a service-level agreement ü consult with agent’ existing customers s ü visit key territories and customersCopyright Red Sage Consulting SSP Meeting 2009
    • A growing choice…ü Accucomsü Burgundy Servicesü Charlesworth Groupü E-Licensing (David Charles)ü EMpact (EBSCO)ü Gateway (Swets) Ø Geographical focus vs.ü PCG international reachü van de Bilt Sales & Marketing Ø Subject specialists vs. generalists• etc.Copyright Red Sage Consulting SSP Meeting 2009
    • Other potential alliances• Aggregation services e.g. Cengage, EBSCO, ProQuest, Swets etc.• Potential in ‘ secondary’markets… e.g. public libraries, FE colleges• … and/or traditionally under-served markets e.g. parts of Asia, Africa, Latin America etc.• Work with more than one, compare results• Be clear about terms e.g. sales territories/sectors; copyright ownership etc.Copyright Red Sage Consulting SSP Meeting 2009
    • SummaryCopyright Red Sage Consulting SSP Meeting 2009
    • Market intelligenceØSupports revenue forecasting/ business planningØEnables confident prioritisation of countries… and activitiesØHelps you define and achieve sales and marketing goalsØMaximises ROICopyright Red Sage Consulting SSP Meeting 2009
    • Strategic partnerships• Give you international reach and presence• Help secure a place at the negotiating table• Not all agents/aggregators offer the same services: don’ be shy about: t ü shopping around ü setting (fair) goals ü using more than one agent ü changing agentsCopyright Red Sage Consulting SSP Meeting 2009
    • Finally…• Economic downturn presents opportunities for smaller publishers• Not all international markets are suffering• Not all institutes are affected equally• Big deals are increasingly being scrutinised…• … usage-based acquisition may favour smaller numbers of must-have titles• Yours may well be among them…Copyright Red Sage Consulting SSP Meeting 2009
    • Thank you for your attention. Questions… Sarah Durrant Red Sage Consulting sarah@redsage.orgCopyright Red Sage Consulting SSP Meeting 2009