As global COO of Macmillan Science and Education, Ken Michaels, states, access to data and the analysis of what is out there allows publishers to “chart better strategic business objectives, improve the effectiveness and efficiency in all parts of the business, including developing better products and audience outreach, enhancing how we market, even one to one [marketing].”
I would use the information out there to do all of the above. I would not necessarily start letting data or computers make all of my marketing or acquisition decisions, but I would work to interpret the data and let it inform my decisions in a way that is collaborative. I also think once publishers have a greater wealth of data and a greater understanding of it, it makes sense that that data would then become a larger factor in pitching titles to Indigo, Barnes and Noble, and other buyers. I would also use the data to shape which kind of titles to commission, as the data would enable us to determine where there is a niche to be filled and what audiences exist.
Speaking on a more specific level, having all the user data for Facebook would enable me to optimize my marketing by helping me learn more about specific reader demographic profiles and how to optimize my audience information when generating ads for specific books and branded contents. Using Facebook’s infinite amount of user data, we could learn more about how people read online, what makes them engage with content, and how directly target consumers likely to actually read our products. As a publisher, I could use data to identify historical trends of what has traditionally succeeded in terms of themes, format, and more. The data from social media platforms could help me identify social trends and I would utilize that knowledge to publish titles that are topical (with an understanding that some trends really are just “trends”) and I would combine this knowledge to see which patterns exist in the overall market.
Using Amazon’s data, we could find out more about what kind of metadata works and how best to optimize our titles for discoverability in a way that takes advantage of Amazon’s algorithms. We could also create more effective comp titles if we had access to all the similar titles a consumer tends to buy (rather than just the ones listed on the website), and we could create more in-depth reader/persona profiles by having further access to the full purchasing or browsing history of users who bought these similar titles.
According to WNWP (What’s new with publishing), a company called Storyfit has been using AI to determine which art is appropriate for which media. The artificial intelligence answers questions such as the following:
“Is this book a good fit for a Facebook marketing campaign across Europe? Is that book series a wise investment for a movie studio to option the film rights? In comparing these three books on sending a spaceship to Mars, which is the most likely to be the most popular and sell the most units, if all are priced the same way?”
The technology is likely not 100% dependable, but being able to gather data helps us improve discovery, create more effective marketing plans, and ultimately drive the sales. Despite all the class discussions about the ethics around using data, I think that publishing right now is largely a guessing game, and that any quantifiable information you can gather about the market and readers is an advantage that one would be foolish to ignore. While I do not think I would build my acquisition strategy, I think the data would prove pivotal for convincing other industry professionals once the practice of gathering better data fully catches on. I think any data I would be able to gather would give me a competitive edge and enable me to push for the books I am already passionate about.