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Digital Innovatorsí Summit in Berlin - Some Takeouts.

26 Mar 2013

The FIPP hosted Summit witnessed Global authorities in Digital Technology and it's application to publishing come together to offer insight and direction in this fast moving and often confusing growth sector. Presentations included:-


• Publishers who don't understand reader behaviour will be mentally blacklisted.
• Pricing Strategies for New Media
• Digital Ads must be enhanced to generate a return.


Publishers who don't understand reader behaviour will be mentally blacklisted.

Nial Ferguson, group publishing director, Technology Division, Future, UK, gave attendees at the Digital Innovators' Summit an idea about what to expect for the future of devices.


According to Ferguson, publishers should look to their audiences to first see what technology they are using, and how they are using it. "Consumers are always on, digital first, sharing everything, multi-screen and impatient", he said. Ferguson spoke about new tablets including the Asus Padfone, Sony Xperia Z and iPad mini, but said that the real excitement now is the data behind the hardware. He gave examples of big brands using XML and APIs to tie apps directly into their consumers' behaviour. "Only now are publishers realising how important XML can be."


"Tablets have made us look the wrong way" said Ferguson, "and the most disruptive devices we've ever seen are smartphones." The new challenge for market leadership from Apple will be interesting, he said, with "Android making iOS a little bit tired at the moment."


"Mobile is changing everything in a number of ways", said Ferguson, but the main thing is patience. Users want everything now and ready. Any delay results in your publication being mentally blacklisted."


Pricing Strategies for New Media

Discussing new media and pricing strategies, Dr. Florian Bauer of Vocatus, Germany, offered delegates at the Digital Innovators' Summit in Berlin today with five key take-outs as they continue with the development of their e-publishing strategies.


Discussing new media and pricing strategies, Dr. Florian Bauer of Vocatus, Germany, offered delegates at the Digital Innovators' Summit in Berlin today with five key take-outs as they continue with the development of their e-publishing strategies.


These are:
1. E-publishing is not about content but about developing and shaping new habits, in every respect - price, payment and product. He warned that classical print marketing approaches and a focus on circulation would be counter-productive.
2. Challenges in varying channels differ, and should be considered as such - "e-publishing is in no respect a homogeneous product cluster."
3. E-publishing has to be developed outside in: publishers must learn to (properly) listen to their readers - perhaps even "for first time!". Dr. Bauer implored them to use the tools now available to do this
4. Consumers' willingness to pay must be developed, and here publishers have to play an active role. Willingness-to-pay "is like a muscle which needs to be trained."
5. Price/product structure is a huge opportunity that allows bundling and up selling, given the ability today to better understand customer need


Digital Ads must be enhanced to generate a return

"There are limitless ways in which advertisers can educate consumers", said Rebecca McPheters, CEO, McPheters and Company, USA, at the Digital Innovators' Summit in Berlin.


"But great ads in apps are increasingly scarce", she continued. "Many advertisers are putting print creative into publication related apps and much of the advertising is not enhanced. Therefore, advertising as a dominant revenue source may be less suited to apps." McPheters said that there is now a trend towards simpler magazine apps, and more replicas, which according to her, is a shame.


With the average digital magazine in the US being on five different platforms or newsstands, McPheters says it's important for publishers to look at what they're consumers are doing on these different platforms. McPheters said that Condé Nast found enhanced ads (meaningfully enhanced) generated twice as much readership and a 63 per cent increase in time spent as static ads. "In app ads can prove highly effective in attracting readers' attention", she said.


Source: FIPP



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