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Understand Your Consumer Before You Define Your Strategy
22

Understand Your Consumer Before You Define Your Strategy.

Dec 30, 2015

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Jonah Sanders
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Page 1: Understand Your Consumer Before You Define Your Strategy.

Understand Your Consumer Before You Define Your Strategy

Page 2: 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.”

“We look at what other houses are doing.”

“It’s all women.”

Page 3: Understand Your Consumer Before You Define Your Strategy.

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

3

Page 4: Understand Your Consumer Before You Define Your Strategy.

PubTrackTM Consumer – MethodologySurvey

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

4

Page 5: Understand Your Consumer Before You Define Your Strategy.

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

Page 6: Understand Your Consumer Before You Define Your Strategy.

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

Page 7: Understand Your Consumer Before You Define Your Strategy.

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?

Page 8: Understand Your Consumer Before You Define Your Strategy.

Publisher perspectives on using Consumer Data

Page 9: Understand Your Consumer Before You Define Your Strategy.

Who bought what, where, and why?

Page 10: Understand Your Consumer Before You Define Your Strategy.

10

Dollars Spent on Adult Books by Gender 2007All Outlets

Source: Bowker PubTrack Consumer

Male47%Female

53%

Page 11: Understand Your Consumer Before You Define Your Strategy.

11

Dollars Spent on Adult Books by Gender 2007Source: Bowker PubTrack Consumer

97%

71%

64%

59%

55%

51%

22%

8%

47%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Harlequin Book Club

Wal-Mart

Grocery Stores

Warehouse Clubs

Barnes & Noble

Borders

Amazon.com

audible.com

Comic Book Stores

Female %

Male %

Page 12: Understand Your Consumer Before You Define Your Strategy.

12

Adult Book Purchases by Format by Gender 2007Source: Bowker PubTrack Consumer

74%

61%

56%

50%

45%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Mass Market

Trade Paper

Hardcover

Audio

E-Book

Female

Male

Page 13: Understand Your Consumer Before You Define Your Strategy.

13

Planned vs Impulse Purchases Adult Books 2007Source: Bowker PubTrack Consumer

Planned , 43%

Impulse, 57%

Page 14: Understand Your Consumer Before You Define Your Strategy.

14

Planned vs Impulse Adult Book Purchases 2007Source: Bowker PubTrack Consumer

93%

83%

74%

71%

59%

51%

45%

31%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Airport Stores

Grocery Stores

Warehouse Clubs

Wal-Mart

audible.com

B&N

Borders

Amazon

Impulse

Planned

Page 15: Understand Your Consumer Before You Define Your Strategy.

15

Book Awareness - Adult Book Purchases 2007 -- All OutletsSource: Bowker PubTrack Consumer

37.7%

4.5%

2.3%

12.3%

3.9%

3.3%

6.5%

6.4%

3.5%

4.3%

4.5%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

Store display

School materials

Saw/heard author on radio/TV

Recommendation from friend

Recipient asked for item

Online: forums, blogs

Online: book review

Online Ad

Book review (not online)

Best seller list

Ad - Print

Page 16: Understand Your Consumer Before You Define Your Strategy.

16

Book Awareness - Adult Book Purchases 2007 -- AMAZONSource: Bowker PubTrack Consumer

3.6%

7.1%

3.8%

18.2%

6.5%

7.8%

18.0%

14.4%

5.6%

3.2%

6.1%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

Store display

School materials

Saw/heard author on radio/TV

Recommendation from friend

Recipient asked for item

Online: forums, blogs

Online: book review

Online Ad

Book review (not online)

Best seller list

Ad - Print

Page 17: Understand Your Consumer Before You Define Your Strategy.

17

Book Awareness - Adult Book Purchases 2007 -- WAL-MARTSource: Bowker PubTrack Consumer

67.0%

0.4%

1.1%

8.9%

2.7%

1.6%

1.3%

1.8%

2.9%

7.5%

2.6%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

Store display

School materials

Saw/heard author on radio/TV

Recommendation from friend

Recipient asked for item

Online: forums, blogs

Online: book review

Online Ad

Book review (not online)

Best seller list

Ad - Print

Page 18: Understand Your Consumer Before You Define Your Strategy.

18

Book Awareness - Adult Book Purchases - 2007 -BookstoresSource: Bowker PubTrack Consumer

49.2%

3.2%

2.3%

13.7%

4.6%

2.6%

4.3%

3.7%

3.3%

4.1%

4.4%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

Store display

School materials

Saw/heard author on radio/TV

Recommendation from friend

Recipient asked for item

Online: forums, blogs

Online: book review

Online Ad

Book review (not online)

Best seller list

Ad - Print

Page 19: Understand Your Consumer Before You Define Your Strategy.

19

Bowker PubTrack Consumer Data

• 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

Page 20: Understand Your Consumer Before You Define Your Strategy.

20

Target and Wal-Mart Book Purchasers by Income Range 2007 Source: Bowker PubTrack Consumer

12%

6%

16%

21%

17%

28%

32%

16%

20%

17%

7%8%

0%

5%

10%

15%

20%

25%

30%

35%

<$25,000 $25,000 -$34,999

$35,000 -$49,999

$50,000 -$74,999

$75,000 -$99,999

$100,000+

Target

Wal-Mart

Page 21: Understand Your Consumer Before You Define Your Strategy.

21

Concluding thoughtsHow 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.

Page 22: Understand Your Consumer Before You Define Your Strategy.

Thank You

22

For your time…

Contact Information:David ThompsonVice President of Sales AnalysisRandom [email protected]

Contact Information:Angela D’AgostinoSenior Vice President, Business [email protected]