New Study on Publisher Tech Buying Strategy: Price Is Not the Issue
Publishers now operate in an environment where technology plays a central role in business operations, product strategy, and growth.
The number of technologies media executives must consider is growing, the pace of change is increasing, and the time and resources required to research, demo, and implement new technologies is growing.
The ability to quickly identify and adopt the most relevant technologies is an existential imperative – and if done especially well, a competitive advantage. The wrong technology can eat up valuable time, resources, and mental bandwidth. Or worse, operating in an environment of thin margins, the wrong tech investments today can have strategy and financial implications that ripple for years.
To support publishers efforts to move more quickly around technology decisions, Publishing Executive, in collaboration with NAPCO Research, has produced this Special Report on Technology Adoption Strategies in Publishing to better understand what publishers’ objectives are when investing in new technologies, what considerations they make when choosing a technology, how they’re budgeting for technology investments, and what technologies are driving the most revenue.
This report will enable publishers to determine how their technology investment strategies and budgets compare to their peers. Download here.
● What are publishers’ objectives when investing in new technologies?
● What are the important considerations publishers make when choosing a technology?
● How are publishing and media companies budgeting for technology investments?
● What technologies are helping publishers drive revenue?
Publishers Have Adopted A Technology Mindset
In what could be viewed as a reversal of past attitudes, publishers appear to have come around to the realization that tech investment and innovation is an imperative and highly correlated with growth. Given that budgets are growing overall and price tag is not the primary concern, its clear publishers are keen to invest in tech if it can develop business and they can find the time.
Time—Not Budget—Is #1 Obstacle To Tech Adoption
Publishers are price conscious, but price is not the top concern when making a technology investment. Rather, limited time and resources for identifying and evaluating technologies is seen as the biggest obstacle to tech adoption. Further affirming how valuable their time is, media executives indicated that easy integration is very high on their list of priorities when evaluating a technology.
Tech Budgets Are Growing Robustly
Overall technology budgets among publishers are expected to increase in 2018 with 63% of publishers anticipating their tech budgets will grow by some degree.
Indicating more aggressive investment among some publishers, 40% of those surveyed expect their tech budgets grow by 10% or more.
Revenue & Audience: Publishers Employ Hybrid Approach to Tech investment
While publishers indicate that revenue is their number one objective for technology investments, the overall data suggests that publishers are taking a hybrid approach to technology investing. They seek tools and solutions that attract and engage audiences as well as drive direct revenue. As the media tech stack becomes more and more complex, publishers will have become adept at conducting an orchestra of technologies to propel their organizations, as well as find ways to accelerate their pace of technology evaluation and adoption.
Denis Wilson is editor-in-chief of Book Business and Publishing Executive. In this role, he analyzes and reports on the fundamental changes affecting the publishing industry and aims to serve content-driven businesses with practical and strategic insight. As a writer, Denis’ work has been published by Fast Company, Rolling Stone, Fortune, and The New York Times.