by Bill Trippe and Mary Laplante, with contributions from David Lipsey
With print revenues declining, periodical publishers have turned to digital products to restore revenues and develop new channels. None of these products are proving to be a panacea, however, as the landscape for digital products and the underlying business models remain in a state of constant flux. Given these profound and large-scale changes, how are publishers responding? While the new landscape is still emerging, publishers have not stood still. Many have tried new models, including free, paid, advertiser-based, freemium, and more. Some have made small bets (e.g., adding a digital edition to complement print editions), while others have made big bets on new portal and paid models. Results have, famously and infamously, been mixed. But the interest is keen, the need is absolute, and the openness to creating this future is essential.
The more well-known experiments are truly just a slice of what publishers have tried and can still try. Mobile apps are ushering in intriguing hybrids of paid (the app), free (supplemental content available to both the app buyer and others), and advertising-supported. Various digital channels are opening numerous new ways of interacting with consumers. These channels also provide publishers with a chance to build a more complete profile of consumer behaviours and needswhat kind of content do they access and when, what kind of premium content attracts them, and what paths take them to the premium content? This new analytical information could prove to be a boon to publishers. Although models and approaches are still nascent, new opportunities are at hand as tablet devices and smart phones flood the market.
It is clear that publishers must work quicklyand intentionallyto develop new products, try new models, and quickly measure the results and refine their offerings. To support these efforts, they need business systems that will enable them to efficiently deploy new offerings at reasonable cost, measure the success of these offerings, and then just as quickly and efficiently revise and re-launch the offerings to meet the evolving demands of consumers and the larger marketplace. This paper briefly highlights some of the emerging models that show promise. It provides examples of where forward-looking publishers are investinghow they are learning about new customer requirements and needs, and how they are turning these needs into attractive new products. Finally, it makes the case for the growing need for contemporary eCommerce platforms to support publishers as they experiment, win, iterate, and drive their businesses into the future.
Sponsored by SAP.
Click here to register. Or login here.
Sponsored by SAP