The shift in the publishing sector towards digital medium has in itself brought a revolution in a way how content is created and consumed by the audience. Digital is evolving in the publishing sector, thus, a flexible approach is the need of the hour to increase efficiencies and to remain relevant.
The move towards digital from opens the door to a vast range of opportunities for the publishing sector as it gives access to global market, multi-platform distribution and greater consumer engagement but the question still remains how to tap the potential.
Traditionally, the content would be created for a single platform, with a specific target audience in mind. When adopting a digital approach, the publisher needs to ensure that the content needs to be created keeping in mind the different audience, across different channels as the content will be distributed across multiple platforms and in multiple formats.
Thus, publishing content online is almost like creating a separate product altogether. This brings an additional investment, along with operational costs. To be successful and to be sustain in this business, there is a need to train, attract and retain talent with the appropriate skills. A need persists for both digital training and business training; a support much needed to encourage companies to experiment with innovative methods, products and services.
Multi-format/multi-platform distribution creates opportunities by offering consumers access to content everywhere, this also provides a new monetization model. However, to tap into this opportunity to maximize online revenues is not possible without investing in digital tools such as content management system, CRM, DRM systems which are required to better manage the processes and accelerate content production.
Feedback plays an import role for publishers and digital medium gives access to this information. This information helps them to understand better and allows more tailored content to be created. Data analytics and insights should be used for a feedback loop and to incorporate those insights into production of new content and to strategize accordingly. There has to be a network based strategy in place in addition to content strategy, to increase reach and network on the digital medium.
Since the new business models are driven around multi-platform distribution and consumer engagement. Thus, there needs to be an increased collaboration to transfer knowledge and create new innovation communities through proper implementation of content management systems.
Online publishing is being disrupted like never before. Companies in these industries need to invest in new digital business opportunities to stay relevant in the changing landscape.