The current era of digital transformation is affecting many industries through the disruptive power of big data, artificial intelligence (AI) and the Internet of things (IoT) all of which are working together to set a new equilibrium in our economic society.
A recent survey conducted by Copyright Clearance Centre (CCC) and Ixxus revealed that although publishers are aware that the industry is going through a digital transformation, there is fear and concern on how to effectively embrace this journey.
The in-depth study found in the publishing industry that 25 percent of publishers see themselves as “lagging” versus the rest of the industry in their current digital transformation efforts, while only 25 percent feel they are “leading.”
The research paper quotes, "Publishing is a legacy industry that is suddenly facing an overwhelming demand for change that will uproot not only its products, but its people, processes and business models."
Fifty percent of publishers interviewed are looking for ways to replace declining revenues from print and advertising, with 41 percent looking to develop new product options.
Publishers unanimously agree that digitisation is critical to business growth but are experiencing confusion and frustration at the complexity of the journey.
We live in an age when mobile devices, wireless connectivity, and alternate media platforms dominate the media landscape.
Digital media consumers are increasingly in the driver’s seat - totally in control with unparalleled freedom to choose whatever they want.
Members expectations are at an all-time high of what a digital experience should be, which has implications on how organisations must engage and present their content.
Over recent years, digital transformation has presented challenges to various industries and organisations as they grapple with managing the obstacles and opportunities that digitalisation brings.
Migrating to a digital business model takes time and effort. Organisations are gradually adopting more digital tools and assessing how their internal resources can deliver against new digital strategies and goals.
Moving content online to a digital platform is one option that organisations are considering to broaden the availability of their content to a digital audience.
Now is a good time of the year to reflect on the effectiveness of the content that you distribute as a membership organisation.
What 2018 has witnessed so far is the continued evolution of how your audience wants to receive content and the digital formats that the content is digested in.
Digital transformation as a strategy should be familiar to most organisations, a struggle to match available digital resources with reaching members in a way that they want.
To keep pace with these transformations, membership organisations need to address their digital challenges at a fundamental level in order to retain members, and attract new digital savvy ones.