The publishing industry has been through many big changes in, especially with the rise in popularity of ebooks and buying books from Amazon. Customer data a very useful tool in the publishing industry. If I were a publisher, data about reader’s data would be the most effective data for the company.
Gathering readers’ data especially their behavior and interactions with the book and knowing what readers find engaging and what they do not can help us as publishers unlock previously hidden assets within our publishing lists. We have seen a lot of books that got rejected at first because the publisher did not think it would sell but later ended up on the bestseller list. This can happen when there is not enough data for the publisher to make an informed decision. Therefore, the reader’s insights can help publishers understand their readers better and thus make better new editions of books and improve the quality of the books taking user input into account. User data can give us more information about which authors and genres we should invest more time in. It also helps in gaining market insights by acknowledging which types of books are running out of steam; if there is any problem with a book itself, the reader’s data will help us identify exactly where it is. By knowing where and when they stopped and continued reading It will give us opportunities to make a decision regarding the publishing content. This can help paint a detailed picture, allowing publishers to predict future book purchases and forecast sales and predict bestseller list–every publisher’s dream!
The main concern we have as publishers is getting customers’ data without breaching their privacy. As I always mention, transparency is the key. We should be very clear with our customers on how we are tracking and collecting their data. This model will allow us to retain customers and attract new ones. . Even if, as a publisher, we are not collecting the data ourselves and we receive it from another party (what we see in most cases in the publishing world), we should not resell or share any private information.
Collecting data is crucial for business survival, yet there is no clear way to implement it without breaching anyone’s privacy. Taking into consideration how recent the use of data in business models, it seems we are in the trial and error phase. Companies are trying to use data in many different ways, some are failing and others are succeeding. I think that the next phase will allow businesses to collect data in an easy manner while being honest with the customer. But for now, as publishers, we should take the initiative to be transparent with users by giving them the option to provide their data or refuse to do so.