Don't Get Trapped in the Amazon

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Michael Covington, Director of Digital Content for David C Cook led a discussion on how Christian publishers can and should expand their thinking on digital content monetization and distribution.

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Don't Get Trapped in the Amazon

  1. 1. DON’T GET TRAPPED IN THE AMAZON! champion the cause for a robust christian content marketplaceFriday, October 26, 2012This is not an anti-Amazon tirade, rather it’s a call to ECPA publishers to embrace change and help to cultivate an expandingdigital Christian content landscape. One that most certainly includes Amazon, where the focus is on raising awareness andfacilitating discoverability of Christian titles. I have been awarded an honorary membership to the Rights community by Brian, soplease forgive me if this presentation skews towards more of a marketing bent. My intention is to highlight some strategies thatwe at DCC have taken and to encourage us all to explore new opportunities to increase awareness of our category. In the digitalage, this is accomplished through licensing our content for multiple purposes. So, in that regard I will work to tee things up forCraig Gipson, who will round out the second half of this session discussing the requisite legal hoops one must jump through tobe able to execute on these strategies.
  2. 2. A HISTORY OF CHRISTIAN BOOKSELLING Future Christian The Parable Group 1999 1950 Booksellers Institute 1970 Age of chains, franchises & marketing groups. First CBA 14,000+ 1967 The Living Bible 1986 Attendance at CBA International Convention in Orlando, FL DAVID C COOK DON’T GET TRAPPED... 10-23-2012Friday, October 26, 2012A quick history of the CBA channel...
  3. 3. 50 years DAVID C COOK DON’T GET TRAPPED... 10-23-2012Friday, October 26, 2012and 3500 stores later...
  4. 4. A HISTORY OF EBOOKS Google Books 2012 & 1995 2007 Year of the Tablet BEYOND Project Touch, Color, Amazon.com 2004 Kindle 2011 Mobile & Fixed DAVID C COOK DON’T GET TRAPPED... 10-23-2012Friday, October 26, 2012A quick history of eBooks...
  5. 5. THE FUTURE OF MULTI-TOUCH DAVID C COOK DON’T GET TRAPPED... 10-23-2012Friday, October 26, 2012Communicating appropriate BISAC codes in your product metadata is essential to increase the chances your books will bediscovered. BISAC Listing available at: http://www.bisg.org/what-we-do-0-136-bisac-subject-headings-list-major-subjects.php
  6. 6. THE FUTURE OF MULTI-TOUCH DAVID C COOK DON’T GET TRAPPED... 10-23-2012Friday, October 26, 2012Communicating appropriate BISAC codes in your product metadata is essential to increase the chances your books will bediscovered. BISAC Listing available at: http://www.bisg.org/what-we-do-0-136-bisac-subject-headings-list-major-subjects.php
  7. 7. 17 years DAVID C COOK DON’T GET TRAPPED... 10-23-2012Friday, October 26, 2012In case you were wondering...
  8. 8. 5 years DAVID C COOK DON’T GET TRAPPED... 10-23-2012Friday, October 26, 2012In fact, if we count the arrival of the Kindle as the beginning of the digital content commerce boom, then we are only at five years.That’s 1/10th of the time it took to build the CBA channel and it has already reached more than $2B in sales (http://gigaom.com/2011/12/02/e-book-market-forecast-to-hit-5-2b-as-the-book-industry-burns/) - nearly surpassing total sales of theChristian book market (approx $2.3B according to ECPA)
  9. 9. 5 Billion DAVID C COOK DON’T GET TRAPPED... 10-23-2012Friday, October 26, 2012Furthermore, Forrester Research is projecting total eBook sales greater than $5B by the year 2016. This is larger than the entireCBA channel (all products) today.
  10. 10. 60 percent DAVID C COOK DON’T GET TRAPPED... 10-23-2012Friday, October 26, 2012Additionally, Amazon today makes up approximately 60% of the eBook market share in the US, for some publishers in the ECPAspace this is as high as 90%+.
  11. 11. Friday, October 26, 2012What’s happened? I’ll tell you, fewer and fewer people shop for books like this (browsing)...(only 1700 CBA stores left, 1/3 arechains). Source http://cbaonline.org/nm/media.htm
  12. 12. Friday, October 26, 2012Instead, browsing a bookstore is largely facilitated by categorization, it’s true, the single largest Christian bookstore on the webtoday is a subcategory on Amazon.
  13. 13. Friday, October 26, 2012Instead, browsing a bookstore is largely facilitated by categorization, it’s true, the single largest Christian bookstore on the webtoday is a subcategory on Amazon.
  14. 14. BISAC’S ARE THE NEW BOOKSTORES Text DAVID C COOK DON’T GET TRAPPED... 10-23-2012Friday, October 26, 2012Communicating appropriate BISAC codes in your product metadata is essential to increase the chances your books will bediscovered. BISAC Listing available at: http://www.bisg.org/what-we-do-0-136-bisac-subject-headings-list-major-subjects.php
  15. 15. BISAC’S ARE THE NEW BOOKSTORES Christian Fiction DAVID C COOK DON’T GET TRAPPED... 10-23-2012Friday, October 26, 2012Multiple BISAC codes is a strategy that works, but primarily finds most of its success on Amazon, the truth is few other retailersare giving this type of control to publishers, instead they are merchandising their digital storefronts much in the same wayphysical stores do, 1 book = 1 category. This only serves to increase Amazon’s share of the market.
  16. 16. BISAC’S ARE THE NEW BOOKSTORES Christian Fiction FIC042030 FIC043000 FIC019000 FIC014000 FIC027050 FIC044000 DAVID C COOK DON’T GET TRAPPED... 10-23-2012Friday, October 26, 2012Multiple BISAC codes is a strategy that works, but primarily finds most of its success on Amazon, the truth is few other retailersare giving this type of control to publishers, instead they are merchandising their digital storefronts much in the same wayphysical stores do, 1 book = 1 category. This only serves to increase Amazon’s share of the market.
  17. 17. BISAC’S ARE THE NEW BOOKSTORES Christian Fiction FIC042030 FIC043000 FIC019000 FIC014000 FIC027050 FIC044000 HIS036120 DAVID C COOK DON’T GET TRAPPED... 10-23-2012Friday, October 26, 2012Multiple BISAC codes is a strategy that works, but primarily finds most of its success on Amazon, the truth is few other retailersare giving this type of control to publishers, instead they are merchandising their digital storefronts much in the same wayphysical stores do, 1 book = 1 category. This only serves to increase Amazon’s share of the market.
  18. 18. BISAC’S ARE THE NEW BOOKSTORES Christian Fiction FIC042030 FIC043000 FIC019000 FIC014000 FIC027050 FIC044000 HIS036120 DAVID C COOK DON’T GET TRAPPED... 10-23-2012Friday, October 26, 2012Multiple BISAC codes is a strategy that works, but primarily finds most of its success on Amazon, the truth is few other retailersare giving this type of control to publishers, instead they are merchandising their digital storefronts much in the same wayphysical stores do, 1 book = 1 category. This only serves to increase Amazon’s share of the market.
  19. 19. SOCIAL SHARING g g g g DAVID C COOK DON’T GET TRAPPED... 10-23-2012Friday, October 26, 2012Marketing is more outside of our control than ever, readers are telling others about our books all of the time, helping readers todiscover our titles (hopefully). However, there is not often a clear path to a purchase, leaving readers to find the title on their own(hopefully). After all, there is no longer a simple solution to “where can I find that book and others like it?”
  20. 20. “One of the first rules I learned when I came into publishing decades ago was “acquire rights broadly, license rights narrowly.” That is a practice which was unambiguously the wisest commercial course until our current developing age of digital delivery. Now agents (or publishers) having licensed rights “narrowly” can cause books not to be available to customers who would be happy to buy them when they easily could be doing so.” Mike Shatzkin, Idea Logical Company DAVID C COOK DON’T GET TRAPPED... 10-23-2012Friday, October 26, 2012So what is our should our first move be? Get your content everywhere your readers are and use marketing, social media andmetadata to help them find it. ) Quote - http://www.idealog.com/blog/three-words-of-wisdom-standards-rights-data/
  21. 21. So,where do we begin? DAVID C COOK DON’T GET TRAPPED... 10-23-2012Friday, October 26, 2012
  22. 22. CREATE A DIGITAL CONTENT STRATEGY... DAVID C COOK DON’T GET TRAPPED... 10-23-2012Friday, October 26, 2012A great article from Publishing Perspectives titled “Why Publishers Need a Content Strategy Today” by Ingrid Goldstein of OxfordUniversity Press will provide you with a great starting point for how to create a digital content strategy. At Cook, we began thisprocess by creating a Digital Publishing Strategy...Source: http://publishingperspectives.com/2012/04/why-publishers-need-a-content-strategy-today/
  23. 23. DCC’S DIGITAL PUBLISHING CONTINUUM DAVID C COOK DON’T GET TRAPPED... 10-23-2012Friday, October 26, 2012As you can see, we have built into our overall digital publishing strategy an intentional plan to constantly evaluate our content(available rights and resulting digital opportunities) - reference author addendum - and then we continue to drive this strategyacross the various business processes, until we complete and then continue the process. This continuum provides the frameworkfrom which we built a detailed 3-year publishing strategy, with detailed goals for each of these four product cycles.
  24. 24. SOME EXAMPLES... 1. Develop a digital products editorial & financial review process. 2. Implement a digital products production schedule. 3. exploit international eBook distribution opportunities. DAVID C COOK DON’T GET TRAPPED... 10-23-2012Friday, October 26, 20121) Think pub board but able to move quicker, be price flexible and populated by digital natives (at least a couple of them:-)2) Implement a production workflow and schedule to maximize digital content creation and process efficiencies.
  25. 25. GLOBAL CONTENT MARKETPLACE GREAT BRITAIN CANADA EUROZONE U.S.A. CHINA AUSTRALIA BRAZIL S.A. & KENYA INDIA DAVID C COOK DON’T GET TRAPPED... 12 - 12 - 2012Friday, October 26, 2012Global is no longer reserved for foreign language subrights. Begin to explore opportunities for English language digitaldistribution in these areas. First priorities are obviously (and most easily reached) domestic, Canada, the UK, and Australia. Thenext big opportunities lie in the BIC (Brazil, India and China), they’re coming and it wouldn’t be a bad idea to begin thinking abouttranslations instead of subrights for these areas. Finally, I put up some African countries, because I believe it’s only a matter oftime before there is a sustainable eBook market there.
  26. 26. 86 DAVID C COOK DON’T GET TRAPPED... 10-23-2012Friday, October 26, 2012# of countries where DCC digital titles have been distributed to date...
  27. 27. THINK OUTSIDE THE BOOK AND THE READER 29% 23% 42% 42% PC Notebook Mobile Tablet DAVID C COOK DON’T GET TRAPPED... 10-23-2012Friday, October 26, 2012The upward trends in dedicated ereader adoption (41% of those who read eBooks) confirm our need to focus on quality, efficienteBook production and distribution. However, there are still considerable #‘s of folks reading on computers and multifunctiondevices. It’s imperative therefore that we explore ways to exploit content in formats other than p-books and e-books. In fact,some content simply doesn’t lend itself well to an eBook, but could be repurposed as an interactive or social web experience.Source: http://goodereader.com/blog/electronic-readers/pew-internet-project-uncovers-firm-statistics-on-digital-reading/
  28. 28. DIGITAL CONTENT REVENUE DISTRIBUTION LICENSED ENHANCED CONTENT FOR TABLETS/WEB FLAT EBOOKS DAVID C COOK DON’T GET TRAPPED... 10-23-2012Friday, October 26, 2012Represents what I believe will be the distribution of Christian content formats over the next few years. This is in stark contrast toan industry where digital content was nearly 100% licensed to 3rd party software vendors only a few years ago. Flat eBooks wouldinclude full-length and portioned content, both reflowable and fixed layout text, created for and distributed to readers via eBookchannels. Enhanced content for tablets/web would include interactive content (think children’s books and apps, content-centric/monetized websites, iBooks author, panel-view interactivity) and licensed content would be 3rd party software providers.
  29. 29. The Segue DAVID C COOK DON’T GET TRAPPED... 10-23-2012Friday, October 26, 2012The digital world provides publishers an unprecedented opportunity to expose readers to your content without spending $1000’sin marketing. Free is the new way to buy placement. Vendor specific promo’s, utilizing redemption codes, allow you to reachspecific niche’s of consumers without the need to support promo pricing across the board. Additionally, there are many startupcontent storefronts on the web that have direct access to customers but do not promise an immediate revenue stream, use yourcatalog to negotiate access to customers to help raise awareness of your titles and authors.
  30. 30. OWN YOUR TERMS...IF YOU CAN:-) DAVID C COOK DON’T GET TRAPPED... 10-23-2012Friday, October 26, 2012Moving toward the second half of this session, in which Craig will walk you through the agreements that are necessary in a digitalage. I cannot stress the importance of coming to the negotiating table with your own set of terms. A friend of mine once wiselyinstructed me that the person who brings the pen first often gets more of what they want and need out of negotiations. David CCook hired Flagler & Associates to create for us templates that serve that end where we are both the publisher AND thedistributor. More recently, we have also hired Flagler to create terms of use and a privacy policy for our e-commerce webproperties so that both DCC and our consumers interests are protected...
  31. 31. Finally... DAVID C COOK DON’T GET TRAPPED... 10-23-2012Friday, October 26, 2012It’s true that the current Christian content marketplace is no longer as homogenous as it once was. The old CBA formula nolonger works, this is the wild west. We all have a vested interest in working toward greater awareness of our authors and evenmore importantly our category. We need to champion the cause, with Amazon for sure, but every other nook (pun intended) andcranny where consumers can find our content globally, at the end of the day we will all benefit.

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