Nov 15, 2018
[Approximate Reading Time : 4 mins]
Data is the driving force behind any business's growth, as data helps businesses identify new markets, pinpoint what they are and are not doing to drive customer engagement and brand loyalty, and discover ways to tap into industry trends. More importantly, data helps businesses get up close and personal with website visitors and create content that drives reader engagement and builds stronger relationships with them. As a content-driven industry, one might think that publishers would naturally utilize data to their advantage, but alas, many are not. Below are a few reasons why this needs to change.
Data Gives Insights Regarding Behavioral Signals
Trade publishers in particular need to pay close attention to behavioral signals, as their markets are already so narrow. According to findings published in Taboola, behavioral signals can inform publishers about which audiences spend a considerable time on a page and which bounce right away. Publishers that utilize data are often surprised to learn that their target demographic is no longer their actual demographic or that a new demographic has slowly emerged, two findings that they can use to their advantage to expand their voice and explore new perspectives.
Real Time Data Can Drive Recommendations
Certain data management tools blend behavioral data with other information, such as information already stored in the publisher's customer relationship management database, as well as insights from visitors' interactions with other organizations. These types of insights can help trade publishers expand their content offerings, or even just refine them, to include the type of content interested parties want to see.
Data Can Help Publishers Expand Their Product Base
By better understanding what type of content audiences wish to see, publishers can expand their product base to include said content. For instance, a publisher of sci-fi novels may discover that younger audiences desire similar content except in graphic novel format. By keeping their ear to the ground, publishers can discover new ways to expand their reach without completely changing their overall mission.
It is not uncommon for publishers to get stuck in a rut and pump out the same type of content on a consistent basis. Though there is nothing wrong with sticking with a tried and true voice, doing so may unwittingly alienate potential target markets. By utilizing data, publishers can identify new markets and either develop a new voice or revise an existing one to appeal to new audiences. To learn more about how you can take your trade publication to the next level, visit our page on trade publishing.