Understand Your Consumer Before You Define Your Strategy
What we’ve been hearing… “We publish great books. It’s up to the retailer to sell them.” “We’d love to know who is buying our books and why.” “We throw out a bunch of lines into the water and hope something catches.” “We look at what other houses are doing.” “It’s all women.”
Why is consumer info important? POS data tells you what sold, and where Consumer data tells you who, bought what, where, and why Online migration of information gathering means greater opportunity for publishers to reach consumers directly Economic pressure makes better intelligence even more critical
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PubTrackTM Consumer – Methodology Survey Type: Online Length: Between 60-75 questions Key Information Book Acquisition Information Individual Activities Key Demographics Quarterly sample size: 9,000 book buyers 21,000 shopping occasions 33,000 book purchases 4
Consumer Metrics move beyond just units sold Book Buyer Profiles Purchase Metrics Dollars($) Actual Selling Price Occasions
Reasons For Purchase Marketing Awareness Competing Activities Share of Wallet
ALL Retail Channels visible with Consumer Data Big Box Retailers
Warehouse Clubs
Book Clubs
Close Out Stores
Book Fairs
Airport Stores
Religious Book Stores
Department Stores
Drug Stores
Libraries
Grocery Stores Online Retailers
Churches Bookstores
Insights possible through Consumer research What are the genres and formats being purchased by which demographic group in which channels? How are they finding out about your titles? Why did they purchase at this outlet? Was it a planned or impulse buy? What are the demographics of your customer/reader/retailer?
Publisher perspectives on using Consumer Data
Who bought what, where, and why?
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Bowker PubTrack Consumer Data • • • • • •
How Purchased Why Purchased Where Purchased Book Awareness Why Store Chosen Planned/Impulse
• Related Activities • Hours Spend on Activities • Book Ownership • Book Readership • Employment, Income, Education Level
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Concluding thoughts How well do you know the consumers of your products? …are you stuck on stereotypical images? …are you missing opportunities because of false assumptions and generalizations? …do you have the data you need to have strategic discussions with your retail partners? …sales data is indispensable… but it can’t tell you anything about the reason behind the sale. 21
Thank You For your time‌ Contact Information:
David Thompson Vice President of Sales Analysis Random House DThompson@randomhouse.com
Contact Information:
Angela D’Agostino Senior Vice President, Business Development Bowker Angela.dagostino@bowker.com 908.219.0150
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