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ESSENTIAL FOR SUCCESS: ANALYTICS IN THE MEDIA AND PUBLISHING INDUSTRY

2019 April 01 at 14:25PM

Digitisation brings with it huge changes. Particularly affected is the media and publishing industry, because the incremental shift from the use of print products to online content is a major challenge. Meanwhile, it also provides the opportunity to analyse user behavior accurately.

Based on such measures, which (especially in this industry) are not easy, one can see what interests the user, and what content is discarded. By providing a positive user experience and overall reader satisfaction, analytics are an important tool for business success today. Especially publishers and media houses are often struggling with the changing circumstances in the digital world.

Analog vs. digital

With exclusively printed products, reader behavior analysis is possible, but the data collected is mostly inaccurate. For example, relevant content can be identified only through surveys of data such as termination rates or a reader's personal feedback.

Things are very different with online content. Information such as access rates and how long it is useful can be accessed directly. What is more, artificial intelligence is becoming more and more important in the analysis and interpretation of data and will take over more and more of the evaluation proccesses in the future. In this way, relationships of the data with each other can be revealed, which a human might not recognize on his own. Such information is particularly valuable for analytics in the media and publishing industries.

Book editing, even, can be supported by data obtained from virtual libraries. A well-known provider of analytics for the media and publishing industry is Jellybooks. Readers can register on the website and receive free new books in digital form, usually before the actual release date of the book. In return, they leave their data of their individual reading habits, which they can also observe quite transparently themselves. 

Possible approaches are, for example, the selection of books, at which times and for how long, where the flow of reading is interrupted, when the reader stops a book prematurely and much more. In addition, the test readers rate the cover and express if they would recommend the book. These readers provide the editorial office with important information that can be used to adapt the respective book. After considered adaptation, the hope of the publishers is to publish a bestseller with the optimised book.

Competitive advantages through accurate analysis

With so-called Media Analytics, content can be customised and basic processes individualised. Using such measures strengthens customer loyalty. To achieve that, media companies and publishers evaluate all existing customer data and extract valuable information from it. These ultimately leads to their gaining a competitive advantage.

Business-driven campaigns also benefit from analytics because they generate an optimal ROI based on the data that they evaluate and interprete. Costs for the customer acquisition drop and the money saved can be meaningfully used elsewhere, for example to improve the product quality.

Caution: Incomplete data can lead to a distorted picture

Not all data may be collected indefinitely. This is ensured by the requirements of data protection. If, for example, the cookies of a user are not activated when visiting a website, the data will not be saved and therefore can not be evaluated. This can lead to a distortion of the actual data situation. Valid analysis requires as complete a picture as possible of all factors surrounding the user. This includes not only the data of pure user behavior, but also environmental data in order to obtain a plausible result.

However, publishers and media managers should not rely solely on the data along which they align their publications. The experiences of the last years, their knowledge about the desires of the community of readers and simply their own gut feeling are important factors for successful publishing - underestimating these would be a huge mistake.

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