For many of us – we know only one way of doing business – that based on traditional business practices of the traditional supply chain… now along comes the brave new world where the rules of content development, distribution, and consumption have changed and yet we are still trying to make it fit the old model… this is insanity – or perhaps a quick ticket to obsolescence. Maybe a great place to start is by changing the name of this very meeting to better reflect the new paradigm of consumer demand
Beyond “Discovery” Toward an insight-oriented publishing environment
Beyond “Discovery”Toward an insight-oriented publishing environment Kristen McLean Kelly Gallagher February 15th, 2012
Who we are Market ResearchKristen McLean Kelly GallagherFounder & CEO Vice President Bookigee, Inc. Bowker Market Research
Insanity: doing the same thing over and over again and expecting different results. Albert Einstein3
At the end of the day… We all want to be discovered
ARE WE ANY BETTER OFF?? IS THE DATA WE DO HAVE BEING USED? AM I A NECESSARY INTERPRETOR? IS OUR CURRENT APPROACH TO DATA GROWING THE INDUSTRY? WILL THIS APPROACH KEEP PACE WITH THE CHANGING FACE OF PUBLISHING?
Data and info pyramid We approach and sell B&N these books based on this data We know that men and boys are the biggest consumers at B&N of these books 2.0 We have a 15% market share 1.0 656,233 eBooks sold last month.
Questions Posed in a D&I 1.0 World Access - Should access to data sources be considered a competitive advantage? Sources - Are the D&I tools we have today too limited in their view of the different data types? Tools - Have we really developed intuitive tool sets that bring answers to the user?
D&I 1.0 – Access Defining what constitutes competitive advantage The use of hoarding data as a competitive advantage. - As a leverage (both internal and external) - Selling data for profit instead of using it to drive profits - Creating exclusive partnerships that benefit few
So are we ready for D&I 2.0? If so, what does it look like?
D&I 2.0 Better access to informationExpanding the data sources - Using connective sources to create a strategy that affects the outcomeUsing technology to drive decisions - Integrating a common tool set to access the data - Employing new technologies to validate assumptionsChanging the thought process to data holdings - Letting intelligence define the competition not hoarding
Turning information into wisdom Cookbooks 2010 = 3,326 new cook books published… BookScan sales numbers show a flat to declining market over past 6 quarters Question: Does the world need another cookbook?
Moving Beyond the Information Quarterly Sales of Cook Books By Generation50%45%40%35%30%25%20%15%10% 5% 0% Q1 07 ’09 Q1 Q2 Q2 ’09 Q3 07 Q4 07 07 Q3 ‘09 Q4 ‘09 Q1 ‘10 Q1 08 Q2 ‘10 Q3 ‘10 08 Q4 08 Q2 08 Q3 Q4 ’10 Gen X Boomers Matures
Engaging with your customers in real-timeCommunity Manager – Connecting commoncommunities together with content creators.Product Development & Testing - - Manuscript Review - Marketing - Sales Awareness - New Apps & Technology
Custom Research Tools Use of unique consumer research tools adapted for use in the book publishing market.
Image Testing - Mobile Device Reaction Comparison strong like Reaction is more cleanly positive for Design 1. The body of the design has essentially intense red – no strong dislikes – apply. However, the toolbar neutral for that design does show strong negatives, with design 2 a better option for that area. Design 3 shows dislike of the toolbar area, and mixed reactions to the body of the strong dislike design.
Where does innovation and collaboration fit in? What do we do when we hit roadblocks Entrepreneurial spirit & innovation
Striking a Balance Between Man and Machine- The publishing industry does differs from other industries— - Managing intellectual property requires significant human intervention - The good - The bad
Thanks! Market Research Kristen McLean Kelly Gallagher Bookigee, Inc. Bowker Market Research @BKGKristen @email@example.com Kelly.Gallagher@Bowker.com