Book Business Outlook For 2012: Hard Work Ahead

James McQuivey

This week hundreds of us in and around the book industry will converge on Digital Book World 2012 (#DBW12). It's a conference that has risen in significance because this industry has rapidly come to understand that it is uniquely susceptible to digitization -- and poised to benefit from it -- in a way that other media are not.

This awareness has translated into relative optimism among publishers. As I'll share with the DBW12 audience on Tuesday morning, we recently conducted a survey with Digital Book World of publishing executives whose companies together earn 74% of all US trade publishing revenues. As we closed out 2011, 82% of publishing executives we surveyed were optimistic about the digital transition. That's a large number, even if it's smaller than the 89% it was a year ago. But when we take into account all the measures of optimism we threw at them -- about the industry in general, about the fortunes of readers, and the importance of their own roles -- most of them decreased somewhat and some decreased significantly. 

Most tellingly, only 28% of these executives thought their own company would be stronger in the future because of digital compared to 51% who agreed with this sentiment the prior year. This suggests that publishers have started to do the hard work of making the digital transition and they're finding that it is, indeed, hard work. It's worth putting ourselves in the shoes of these publishing industry product strategists for a moment to consider just why they aren't positive that their companies are going to come out better off. I see three reasons:

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The Data Digest: Consumers' Attitude Towards Online Privacy And Security

Reineke Reitsma

Over the weekend, one of the most reputable online retailers in the US, Zappos, broke the news that its database was hacked and that the information for about 24 million user accounts was breached.

How do stories like this affect consumers’ attitude toward online privacy? In our August 2011 Community Speaks Qualitative Insights report, “Consumer And Online Privacy: How Much Information Is Too Much?” (available for Community Speaks subscribers only), we found that online privacy is one of the most concerning topics in online users’ minds. Two-thirds of US online consumers report being very concerned about the recording and collection of their personal details by websites. 

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Thinking of launching a daily deal? Just hold that thought and read this first...

Martin Gill

In November 2011 Sucharita Mulpuru published a very well read Forrester research document entitled “The Myths and Truths About Daily Deals”. In this document she led with the line…

“While significant media and investor interest in daily deals has fueled the hype around this business model, data from consumers indicates that daily deals are significantly challenged models.”

The daily deals concept is receiving just as much press coverage in Europe as it is in the US, so with that in mind we have taken a similar look at the state of the market of deals, flash sales and coupons and found that while there is a great deal in common, there are some notable differences.

Much of the differences stem from a combination of the local players and the geographical complexity of operating across Europe.  Many of the big players like Grouponand Living Socialare present in Europe, with significant market presence in many countries, though a range of other national companies like DailyDeal.deand SecretSales.comoperate in only one country. So while at a national level the situation is reasonably easy to understand, eBusiness executives operating in a pan-European company have a maze of different options to navigate through.

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The Co-Operative Bank Comes First In Forrester's 2011 European Bank Customer Advocacy Rankings

Benjamin Ensor

For the second year in succession, the UK's Co-operative Bank has come top in our European Bank Customer Advocacy Rankings, just ahead of Poland's ING Bank Śląski, with Germany's Sparda-Banken in third place.

Customer advocacy is the perception among customers that a firm does what’s right for them, not just what’s best for its own bottom line. Customer advocacy matters because in every country we survey in our Consumer Technographics® research, we’ve found that customers who view their main bank as a customer advocate have more accounts at their main bank, are more likely to consider their bank for their next financial purchase, and are more likely to recommend it to others.

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How Data Sensitive Are Your Customers?

Fatemeh Khatibloo

Most marketers and customer intelligence (CI) pros tend to lump together most types of customer data. Sure, things like passwords and social security numbers are considered more "sensitive," but for the most part, the systems that protect all the data -- and the privacy policies that communicate their capture and governance -- are largely the same.

This model used to work just fine. But in an era where consumers are becoming increasingly aware of data capture, data breaches, and the value of personal data, it's not enough to treat all data (nor all customers) the same. In researching our latest report, "Personal Identity Management Success Starts With Customer Understanding," we found that:

  • Individuals see different types of data differently -- they're most worried about what we consider individual identity data, and far less concerned about the capture and use of their behavioral data
  • Most consumers are willing to share their data in exchange for value. But, what they consider "valuable" is very age-dependent -- in other words, the same consumer isn't equally motivated by discounts and cash rewards. 
  • A surprising number of consumers "just say no" if a privacy policy doesn't pass their sniff test, and the numbers seem to be rising. 
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Yes, Content Must Be Managed Internally As Well

Peter O'Neill

 

Peter O'Neill here. My first report on content management came out last week and it has already generated several conversations – please keep those comments and inquiry requests coming. Content management was also a significant part of a one-day workshop I delivered to a client in Lisbon last week. They offer eProcurement and eMarketing software-as-a-service. So an interesting discussion we had was, “Do you need different content as a SaaS provider compared to a product vendor?” We concluded that the information would be the same, but the sense of urgency about delivering digital content to a SaaS audience is greater than a more conventional buyer community, which changes the content style and vehicles. This question is on my 2012 research calendar and will be the basis for a report later in the year, so I would love to hear your opinions on that one.

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A Unified Digital Europe. Is It Possible?

Martin Gill

 

Yesterday the European Commission outlined its ambition to create a “genuine Digital Single Market” by 2015. You can read the whole text here if you have some time to kill . . .

 http://ec.europa.eu/news/economy/120111_en.htm

It has the bold aim of “doubling the shares of the internet economy in European GDP and of online sales in European retail by 2015.”

Bold? Not half!

Like many EU documents of this sort, it’s big on ambition but frustratingly light on the “how.” In short, the document outlines 5 key blockers to cross-border growth in the EU, as follows:

·         The supply of legal, cross-border online services is still inadequate.

·         There is not enough information for online service operators or protection for internet users.

·         Payment and delivery systems are still inadequate.

·         There are too many cases of abuse and disputes that are difficult to settle.

·         Insufficient use is made of high-speed communication networks and hi-tech solutions.

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Google Search Gets Social- What it Could Mean for Marketers

Melissa Parrish

I don’t know about you, but my head is spinning from all of the articles and editorials about Google’s incorporation of Google+ content and other personalized search results.  While there’s lots of conversation about whether the changes are good or bad for Google and the future of search, whether Google is opening themselves up to more anti-trust investigation, and whether Google was simply too late to the social media game to make a difference,  I’m going to leave those arguments to others.   I’m more interested in the potential opportunities and challenges for marketers that this integration of search and social presents.

Opportunities

  • It may give marketers an additional metric to track for social media.  Google will be surfacing your brand’s Google+ social content directly into personalized results, for consumers who’ve added you to their circles.  These search results may also include content that a consumer’s friends posted about you.  That means qualified clicks on your social content—and that means possibly tracking how much search traffic you generate to your own sites through social marketing. 
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Hello Mobile Market Research. Where Have You Been? What Took You So Long?

Roxana Strohmenger

My colleague Reineke Reitsma and I have been championing mobile market research for quite some time. In fact, we published the first Forrester report on this emerging and innovative methodology back in 2009. In the report, Reineke wrote about the value of its mobility and flexibility to gather insights into consumers’ behavior anytime and anywhere. And for mainstream adoption to occur, hurdles such as cost, technology, privacy, and representation must be addressed.

At that time, I thought the growth of mobile market research was soon upon us. I was off by about 2 years. But 2011 was a turning point for mobile market research. We started 2011 with seeing the number of global shipments of smartphones and tablets surpassing the global shipment of desktop and notebook PCs. Blog posts and Twitter chatter under the #mobilemr hashtag increased significantly. In July 2011 there was the first formal debate about the merits of this new technology. And also in July there was a conference completely dedicated to how early adopters have leveraged mobile market research.

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Big Brother? Or Big Mother? Depends If You Get It Right ...

Julie Ask

What am I even talking about? Think about how you use your mobile phone. Do you contact your closest friends? Do you shout and swear at your local telecom provider's IVR because your new home Internet service isn't working as advertised? Do you shop? Bank? Read books? As a result, your phone knows if you are happy or sad. Your phone knows where you live, how fast you drive and where you spend money. Creepy? Maybe if your phone tells you your wife isn't going to like that shirt you are buying. Less creepy if your phone knows you are a Starbucks addict and they are giving away free coffee today. What defines creepy to some extent lies in how much value you perceive in a service. We call this context - what an individual's situation, preference and attitudes are. How you use it will define how creepy it can be.

Your phone will know more and more about you based on some technology that will be in the phone that can sense what you are doing or your feelings, for example. Your phone will also understand your preferences based on how you use the phone. We wrote a lot about this in 2011 - re what is means to you as an eBusiness professional. (See report)

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