Gallagher ELS presentation
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The document discusses how the Christian publishing industry has changed dramatically over the past 20 years as consumer choices and behaviors have fragmented. It highlights the need for publishers to develop micro-market sales and marketing strategies tailored to different consumer segments based on insights into who buys products, where they shop, why they purchase, how much they spend and how frequently they shop. The document analyzes consumer panel data on Christian book buyers to provide examples of insights around generational differences, gender gaps, income levels, retail preferences and purchase motivations that could inform targeted strategies.
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Gallagher ELS presentation
- 3. 20 years ago… Christian publishing was a simpler world…
- 4. Fewer Publishers Fewer Retail Choices Fewer Media Choices Predictable Customers Simple Product Formulas Back then…
- 5. … the times they are a chang’n Bob Dylan
- 7. 20 Year Growth in Religious Title Output Source – Bowker Books in Print
- 8. Book unit sales Source – BISG Trends Reports
- 9. Media Choices Exploding Before 1975, consumer had 8 choices for entertainment and information Today, consumers have 21 choices for entertainment and information 1975 2008
- 10. Struggle for attention: The competition for attention and for time increases Competition for attention 1985 2008 TV Channels 10 – 15 500 + Web Sites 0 30 million Publications 100 + 1,000 + Radio Stations 10 + 10,000 + Product Lifecycles Decades Months E-mail SPAM Messages sent per day 0 Over 60 billion per day Hours in the Day 24 24
- 11. The emergence of Zero-Sum
- 12. Paths of Life – The Way We Were Adolescence First Job Get Married Buy House Have Babies Raise Children Leisure Activities Travel Retire Visit Children Change Jobs Plan for Retirement Chance ? Single Married Empty Nest Retire Attend College Take Vacations Buy second house Start
- 13. Start First Job Get Married Buy House Have Babies Raise Children Travel/ Leisure Activities Retire Change Jobs Attend College Take Vacations Gen Y Gen X Boomers Matures Get Divorced Plan for Retirement Second Family Remarry Adolescence Paradox Prison Paths of Life – The Way We Are Now Sources: PQ Media, VISA Buy vacation property Chance ? Independent Need connected-ness Lack of time Do it yourself Info seekers Solution seekers Info overload Desire choice
- 14. … how do you make the connection?
- 15. WHO IS YOUR CONSUMER?
- 16. … A CHRISTIAN FOR THE MOST PART
- 17. CTI and Bowker to Partner on Christian Segmentation Study
- 18. PubTrack TM Consumer – About A consumer survey panel that provides answers to consumer book and media and purchase behaviors.
- 19. Survey Type: Weekly Online Length: Between 60-75 questions Key Information: Individual Activities & Book Purchases Consumer Sample 30,000 men, women, teens: US Rep Provides demographic, key interests/activities, book ownership, reading interests, religious affiliation/habits, general attitudes/usage relative to media usage PubTrack TM Consumer: Data Collection
- 20. Summary of Research Objectives Collect, track, and monitor purchase patterns & behavioral changes based on detailed information directly from CONSUMERS : All book purchases in … All formats from … All outlets Demographic details Psychographic details Purchase influences
- 21. Developing a consumer-focused strategy starts with asking lots of questions… What are their habits? Where do they shop? What do they belong to? What motivates their book purchases? How much time are they spending online? How often do they buy? Where do they get their information?
- 22. … consumers can tell us things that book data can’t … Micro Market Define our retail value Create special product Define the competition Purchase Motivation? Why did they buy it?
- 23. Today’s landscape: In 2007…… 164 million Americans 13+ years purchased at least one book 64% of US Population (13+ yrs) 1.4 billion books bought by individuals 13+ years $14.3 billion dollars spent for these books
- 24. Reading in America – Reading Frequency
- 25. The “Who” insights into the book buyer
- 26. Who Buys Books? – Revenue generated by Christian segment
- 27. Who Buys Books? Generational profile of books purchased
- 28. Insight & Question Individuals under the age of 40 account for less then 28% of Active Christian book purchasers… … how do they differ in what they buy and do you have a defined strategy to reach them?
- 29. Understanding generational diversity Christian Book Buyer Genre Purchases by Generation
- 30. Age Change in The Decade Ahead
- 31. . Who Buys Books? Gender
- 32. Male vs. Female Christian Fiction Gap
- 33. Insight & Question Males account for 32% of the Fiction Market – yet only 11% of the Christian Fiction Market… … how can you better serve them to narrow this gap?
- 34. Active Female Christians – General vs. Christian Fiction Purchases
- 35. Insight & Question Active Female Christians are buying more Fiction books then Christian Fiction books… … do you know what non-Christian genres they like and can you compete with them ?
- 36. Who Buys Books? HH Income Levels by Panel Participation
- 37. Who Buys Books? HH Income Levels by $$ Spent on Books
- 38. Christian books Purchased by Active Christians sales by binding types
- 39. General Trade Books Purchased by Active Christians GT sales by binding types
- 40. Comparison of Product Types Purchased by Active Christians General Trade Titles Christian Titles
- 41. Wal-Mart Book Sales by Binding Type
- 42. Insight & Questions 59% of Active Christian HH’s make less then $50,000 year… … are your product and pricing strategies matching this demographic? … where are Christian mass market and value priced products?
- 43. . Who Buys Christian Books? Types of ‘Christian’ Buyers
- 44. Insight & Question 22% of Christian book buyers are either Catholic or Mormon consumers … … what opportunities (revenue or otherwise) does this create?
- 45. The “Where” insights into where books are purchased
- 46. . Where are Books Purchased?
- 47. Where are Books Purchased? Direct to Consumer Subset
- 48. Where are Books Purchased? Retail Subset
- 49. Insights & Question Active Christians still make majority of book purchases at Christian stores (39% - 31%)but the gap is narrowing… … the tide has already changed with less active Christians now choosing a general trade store more frequently (44% - 25%). … do you have in place a strategy to understand the unique needs of each consumer as they intersect with your many sales channels?
- 50. Know Thy Consumer – BIG IDEA The retail and direct to consumer landscape is fragmenting into many pieces… the challenge as a publisher is to embrace this change and develop micro market sales and marketing strategies that cater uniquely to these segments.
- 51. The “Why” insights into motivation for purchase
- 52. Why books are purchased? Planned vs. Impulse
- 53. Why books are purchased? Purpose
- 54. Insight & Question? Active Christians purchase a majority of their books (66%) either on impulse or at times when they had not intended to purchase a book they were wanting… … what are you doing to differentiate you products in cover color & design, spine design, author placement, book category placement, etc that will cause you to stand out on the book shelf? … what efforts are you taking with the retailer to get end cap placement, cross merchandised, point of purchase, etc to encourage an impulse purchase?
- 55. The “How” How much are they spending? How frequently are they shopping?
- 56. Purchase metrics How often are they buying? . Store visits & books purchased per visit by outlet .
- 57. Purchase metrics: Value per channel . .
- 58. Purchase metrics How much are they paying? . .
- 59. Christian Book Store display/on shelf/spinning rack Recommendation from a friend/relative Online/Internet Advertisement Direct Mail/Catalog Online Book Review Top Publishers Store display/on shelf/spinning rack Recommendation from a friend/relative Saw or Heard Author speak Direct Mail/Catalog Online/Internet Advertisement Total Market Store display/on shelf/spinning rack Recommendation from a friend or relative Online/Internet Advertisement Online Book Review Direct Mail/Catalog Why Purchased How did you become aware of the product?
- 60. Know Thy Consumer – BIG IDEA Developing consumer metrics around your loyal customer base not only allows you to assess the profitability of a particular consumer segment, but it also allows you to more accurately measure the impact your marketing and promotion have on that retail segment.
- 61. Insights & Question … while shopping occasions are close, Active Christians have a significantly higher per dollar and more frequent purchase occasion at Christian retail outlets. … how will you maintain an approach to keep your best customers happy… in the midst of a changing market landscape? … do you have in place a strategy to understand the unique needs of each consumer as they intersect with your many sales channels? … what are you doing to work with retail to reward their very best customers in order to assure they can retain the foot traffic into their stores?
- 62. Concluding thoughts How well do you know the consumers of your products? … are you stuck on stereotypical images? … are you only meeting just some of there needs when you could be doing more… if you just knew them better? … when was the last time you went out and met your consumer? … book data is indispensable… but it can’t tell you anything about the soul behind the book.
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