Frankly I am surprised that it took this long. But today, we read in the Wall Street Journal that two major publishers have decided to pull a music industry mistake. Simon and Schuster and Hachette Book Group have announced that they will not release most eBook editions until the hardbacks have been on shelves for four months.
And I quote David Young, CEO of Hachette Book Group, whom the article cites as saying: "We're doing this to preserve our industry, I can't sit back and watch years of building authors sold off at bargain-basement prices. It's about the future of the business."
Correction: This move is about the past of your business.
I'm just being a historian here when I point out that language like "We're doing this to preserve our industry" is a classic symptom of what we at Forrester loving call The Media Meltdown. I wrote a whole report on this ailment and its many symptoms, chief among them is that media businesses attempt to preserve analog business models in the digital economy, even when analog economics no longer apply. This is exactly that scenario.
I have two very important messages to offer the book industry (most all of them clients, so I'm trying to be delicate here, the way a group of friends running an intervention for an alcoholic have to act even if it involves summoning tough love). The first message is the hardest to hear and it will make me some enemies. But the second message offers some hope and I encourage you book types to give it a fair hearing, because I have history and economics on my side.
On Friday, Forrester published new research on one of the most active groups of people ever seen when it comes to social participation -- buyers of technology products in the business-to-business (B2B) sector.
I teamed up with Oliver Young to write the report, "The Social Technographics of Business Buyers," based on a survey conducted online between December 2008 and January 2009; you can access the full report if you're a Forrester client, or arrange to buy it if you are not. You can also register to download the slides or hear the replay of our Webinar on the topic.
Two things before I start: 1) A big "Thank You' to everyone who commented on my blog posts, emailed me, or spoke to me by phone about the research called "How To Avoid B2B Marketing Obsolescence", and 2) No, I really don't believe B2B marketers will become obsolete. That was just a title that would get you to read further!
For those of you frustrated by the survey tool at which I pointed my last post, I would like to apologize for wasting your time and missing the opportunity to engage you when you were most interested.
Merv and I are are providing expertise and contributing the Forrester brand name to the Customer Reference Forum for this survey. We are not working directly with the survey execution team. The CRF has been terrific to work with, but I did not check a few of the small details on survey access parameters before posting this and now those details have bitten me as links that don't work or make the survey look closed when it is not. This is also why I haven't replied in Web 2.0-time to your posts pointing out the problem.
I think the area of research will prove very interesting as we bring it out early next year. For those of you still willing to participate -- thank you so much for your patience! -- you can find the survey link here.
Again, thanks for your patience and support on this.
Great customer references fuel great B2B marketing. But getting customers to testify or submit case studies is challenging. Good references require investment. But how do you keep customers from feeling like shills for their vendor firms? By involving them in communities of like-minded advocates! That is one hypothesis I plan to explore further in 2009 -- investigating the connection between social activity and greater customer advocacy.
Wow. I am overwhelmed by the response I received from my first post on this subject. Looks like I hit a nerve and inspired some great commentary. In particular, I'd like to call attention to the thoughful response from Arthur Einstein, who is the VP of Marketing at Loyalty Builders. I wanted to comment briefly on what I am hearing from all of you so far. To avoid obsolescence, readers believe B2B marketers must focus on:
Today marks the beginning of my 8th year at Forrester and my 4th year researching B2B marketing.
I’d like to use this anniversary to start a blog conversation about what I see happening in B2B marketing and to think about what’s next. And, frankly, I am concerned about the future of the business marketing profession.In particular, for those of us marketing high technology products and services.