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Understand Your Consumer Before You Define Your Strategy

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.”

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Understand Your Consumer Before You Define Your Strategy

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  1. Understand Your Consumer Before You Define Your Strategy

  2. 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.”

  3. 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

  4. 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

  5. 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

  6. ALL Retail Channels visible with Consumer Data • Big Box Retailers • Book Clubs • Book Fairs • Religious Book Stores • Drug Stores • Grocery Stores • Online Retailers • Warehouse Clubs • Close Out Stores • Airport Stores • Department Stores • Libraries • Churches • Bookstores

  7. 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?

  8. Publisher perspectives on using Consumer Data

  9. Who bought what, where, and why?

  10. 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 Bowker PubTrack Consumer Data

  11. 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.

  12. 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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