Content Marketing Trends and New Ways to Generate Revenue · Repurpose Articles into eBooks New...
Transcript of Content Marketing Trends and New Ways to Generate Revenue · Repurpose Articles into eBooks New...
New Ways to Generate Revenue
New Ways to Generate Revenue
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
Repurpose Articles into eBooks
New Ways to Generate Revenue
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
1
Two Possibilities to Think About
• Compile articles previously published in journal issues and package as ebook – “a vertical slice”
• Release new edition of previously published book as ebook
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Value add o Full color o Internal and external links
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Things to consider o Copyrights o Marketing o Author compensation or reward o To edit or not to edit o PDF or ePUB?
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
PDF or EPUB?
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
• Fixed page format • Viewable on any platform • Stable, predictable • Difficult to read on hand-held devices • Citations not linked
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
EPUB
• XML-based distribution format standard for ebooks
• Standard for all readers except Kindle (Mobipocket)
• Reflowable text • Internal and external links • EPUB 3 creates new possibilities for science
publishers
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Costs
• Conversion • Apple/Amazon fees and percentage
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Costs
• Conversion = $0.50 to $1.25 per page (industry average) • Depends upon vendor • Depends upon complexity • Complex = tables, math, display equations
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
ROI
• One conversion one file infinite copies • Repurposing existing content Sale price x copies sold − Conversion − Apple/Amazon _____________________
= Revenue
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
2 Patron Driven Acquisition on the Article Level
New Ways to Generate Revenue
Patron Driven Acquisition (PDA)
• Also called Demand Driven Acquisition • Library patrons find and identify materials
prior to library purchase • Library only pays for what patrons actually use • Library charged when use passes agreed-
upon threshold • Usually transparent to patron
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Patron Driven Acquisition (PDA)
• Primarily used for ebooks • But what about journals? • Or smaller units of content?
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Patron Driven Acquisition (PDA)
In the digital environment . . . • Things are moving from the journal level to
the article level • The article is the unit readers want
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Patron Driven Acquisition (PDA)
• Discovery is on the article level • Usage is on the article level • Citation is on the article level • Why not sell content on the article level?
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Further Thoughts
• Libraries are already doing this anyway (ILL, PPV) – “with us or without us”
• Are publishers going to work with them in a way that encourages usage – or make it difficult?
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Further Thoughts
• PDA doesn’t mean abandoning full subscriptions – it’s an alternative to full subs
• Could have a built-in tipping point for a subscription purchase
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Costs
• Administrative costs • Make content available • Work out relationships with libraries • Develop new business model • Develop technical infrastructure to provide
content
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
ROI: Usage
• Increase access to content beyond purchase of journal
• Could lead to library purchase of full journal subscription
• Retain some revenue as libraries cut back on journal subscriptions
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
3 DeepDyve Article Rental
New Ways to Generate Revenue
DeepDyve
• Online article rental service • Makes information more affordable and
accessible for users unaffiliated with a large institution
• User can view-only an article for a specific period of time
• Cannot print or download
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
DeepDyve Subscriptions
• Bronze • 3 articles • 7 day viewing period
• Silver • 10 articles • 7 day viewing period
• Gold • 25 articles • Unlimited viewing
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
DeepDyve
• Thousands of journals • Millions of articles • iTunes-type pricing • Can subscribe or purchase
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Example
Costs/ROI
• Publisher licenses content to DeepDyve • 50/50 revenue split • Publishers pay admin costs out of their 50%
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
ROI: Usage
• Rental could lead to purchase • New market – users unaffiliated with
institutions • New market – users who only need short
term access to content
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
4 Free Trials and Access Tokens
New Ways to Generate Revenue
Free Trials
• Free content offered for limited period of time
• Intended to generate interest in subscribing
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Free Trials
Direct to Library
• Give library a free subscription • Typical period = 3 months • Accessible to library patrons • COUNTER compliant
• Publishers can pull report • Make appeal to library based on usage
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Free Trials
Direct to Library
• Approach 1: Publisher asks library if they’d like to opt in and participate in a free trial
• Approach 2: Publisher opens free subscription and markets to patrons
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Free Trials
Direct to Faculty
• Publisher goes directly to faculty members and offers free trial
• Faculty recommendations are one of the strongest influencers on libraries
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Free Trials
Direct to Potential Readers
• Offer free trials to annual meeting attendees • Provide access tokens in brochures, email, or
other marketing material
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Free Trials
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Example
Access Tokens
• Can also provide access to specific content • Examples
• Featured article for a limited time • 3 articles of user’s choice
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Access Tokens
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Costs
• Administrative • Link creation – depends upon online provider • Design and creation of marketing materials,
tags, etc. if needed
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
ROI
• If the campaign is successful – leads to subscription purchases
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
5 Commercial Reprints as Enhanced Digital Reprints
New Ways to Generate Revenue
Enhanced Digital Reprints
• Digital magazine format • Leverage traditional print media for
optimized reading online
• NXTbook Media, Texterity, Bright Copy, Zinio, Blue Toad
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Enhanced Digital Reprints
• Page flipping • Multimedia • Social sharing • Commenting • Bookmarking • Mobile optimization
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Enhanced Digital Reprints
• Dynamic advertising • Flash® video • Hyperlinking • Surveys
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Digital Transition
• Solves problems moving from print to digital • Print– total control • PDF – little to no control
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Enhanced Digital Reprints
• Control whether it can be printed • Control how many times it can be printed • Control whether it can shared
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Enhanced Digital Reprints
• Control access • Control usage • Track usage • Get statistics
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Enhanced Digital Reprints
• Control views (options) • Specified amount of views over a 12-month
period • Unlimited views over a specified amount of
months (ex: 3 months)
• If society/institution/advertiser runs out of views – they can purchase more
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Enhanced Digital Reprints
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Example
Costs
• Passed on to the advertiser or commercial entity ordering the reprints
• Varies by provider • Varies by page count, features, DRM, etc.
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
ROI
• Online • More visibility • More accessibility • Enhanced features • More attractive to advertisers – opportunity
to increase commercial reprints sales • More spend per order
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
6 Target Individuals With Shorter Subscription Models
New Ways to Generate Revenue
Traditional Subscription Model
• Benefit of membership • Minimum of 1 year • Focus is on the institution
• Continuity • Budget projections
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Shorter Subscription Models
• Online Only • Limited (examples)
• 1-day subscription • 5-day subscription • 1-month subscription
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Shorter Subscription Models
• Target students or researchers who need access to journal for a limited time • Project • Paper • Class
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Shorter Subscription Models
• Market to faculty • Market to institutions • Market to libraries
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Shorter Subscription Models
Things to consider • Embargo periods • Who purchases the subscription?
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Costs
• Administrative
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
ROI
• If the campaign is successful – leads to subscription purchases
• New revenue channel – non-traditional “subscribers”
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
7 Record Articles and Sell Audio Files on iTunes
New Ways to Generate Revenue
Audio Files on iTunes
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Example
Audio Files on iTunes
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Example
Costs
• Production – recording, editing • Administrative • Link creation if needed
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
ROI: Usage
• Another channel for article content • Making content available to
• Non-traditional “readers” • Users “in motion” – driving, walking
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
ROI
(If not free) Sale price x copies sold − Production costs − Apple percentage _____________________
= Revenue
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
Mobile Optimization
New Ways to Generate Revenue
8
Mobile Optimization
• Mobile optimization makes your website smartphone-friendly
• Organize and display content in a way that makes sense on a mobile device
• Repurpose the same content already on your website
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Browser Optimized
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Browser Optimized
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
Mobile Optimized
New Ways to Generate Revenue
Mobile Optimized
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
Cost
• Significant investment • Varies by provider • Depending on your readers and the field –
might become “the cost of doing business” as expectations change
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue
ROI: Usage
• Reaching more potential users • Many phones aren’t capable of pulling up full
websites • Non-optimized sites are difficult to use – limits
usage • Many users in the developing world use
smartphones instead of computers
CSE 2012 Annual Meeting ▪ 18 – 21 May 2012 ▪ Sheraton Seattle Hotel
New Ways to Generate Revenue