With the rapid expansion and advancement of the digital ecosystem, it comes as no surprise that print readership is steadily declining, and popularity of e-books and e-magazines are reaching its zenith. The recent statistical analysis on traditional printing and digital publishing by Digital Magazine Market Study showed people browse an average of 2.37 digital issues and an average of 2.91 print issues every month, which makes digital magazine consumption 43% of print magazine consumption. Hence, traditional publication services and print media should be blended with digitization so as to optimize and monetize the publishing business. Here are 5 intriguing reasons for publishing business entrepreneurs that might make them ‘go digital’:
1. Global audience reach and readership feedback:
- One can sit at New Delhi and still have The New York Times at fingertips. Digital publishing breaks all geographical barriers and reaches to readers at even the remotest of areas.
- Digital publishing services also help in establishing a bidirectional communication system between the readers and the publishers. The information collected from this interactive sessions provide statistical data on reader's interests and topics often read, giving publishers the opportunity to upgrade contents according to the reader's need.
- Since readers get the chance to voice their opinion, the scope of customer satisfaction increases.
- Digitization enables to adapt to the quickly changing world by constantly updating e-newspapers or e-magazines which in turn increases its relevance, readership and revenue.
Digital publishing aids in changing the content layout and errors in content without much hassle.
- Ad-serving flexibility is increased since multiple ads can be served in one advertising space.
- Integration of video, flash, and images are drawing in readers to a whole new extent uplifting both production and consumption of digital publishing services.
3. Optimization of cost:
- Through producing digital versions of magazines and literature printing costs are substantially reduced, leaving more budgets for other marketing activities.
- The inclusion of additional papers or prints in digital magazines does not levy any extra cost on the publishers unlike traditional printed magazines, which helps in frequent upgradations of content.
- The Digital distribution channel can be employed to connect to a larger audience, with no postage costs. It is also a fast system of distribution.
- It also helps in collecting earnings by accessing new markets which have been off-limit
due to artificial trade barriers.
4. Risk reduction:
- This system helps in printing the exact quantity needed, only at the time of its need, and thus reduces misuse of prints and cost of printing.
- Digital printing strategy focuses on a more agile, efficient, and customer-centered publishing house.
- Digital publishing service aids in conducting a market survey prior to product launch which lessens the risks and costs associated with long print runs. The publisher saves unnecessary costs by reducing inventory and decreasing returns.
5. Distribution and marketing:
- The hurdle of distribution is completely ruled out with the incorporation of digitization in publishing. This intricate network of distribution ensures fast publishing and hence keeps the readers engaged and updated.
- Consumers are getting inclined towards digital distribution because of the involvement of minimum business overhead.
- Digital marketing enables customers to interact with the brands of their choice through servicing and delivery of digital media.
Not only these, digital publishing also helps in measuring advertising goals, creating public focused software tools, social sharing, tracking and analyzing user activity to refine digital publications. The exponential technological growth is ensuring the creation of a digital world where digital publishing service is steadily becoming our only choice.