Why the “smiling curve” has publishers frowning

Screen Shot 2015-11-30 at 9.30.33 AMAre you familiar with the “smiling curve” phenomenon? The details are provided here, but the short explanation is that a smiling curve depicts the value-add potential for each stage of an industry. For example, in the publishing space, you have three stages of content: creation, delivery and discovery. Those three stages are illustrated with a smiling curve here as part of a terrific article from Ben Thompson of Stratechery.

Note the y-axis in that graph. It represents value, so the stages with points higher up the y-axis generally add more value to the overall ecosystem. That graph indicates two stages with high value-add (creation, discovery) and one with low value-add (delivery).

Creation and discovery rank high because they’re capabilities that are extremely hard to copy. Sure, the self-publishing movement has resulted in a glut of authors, but how many are actually making money? How many have created a brand name for themselves they can leverage every time they release a new book?

The graph indicates Google, Facebook and Twitter are some of the more well-known discovery players. Thompson’s article focuses mostly on the newspaper industry but if you add Amazon to the list of discovery players the piece applies just as well to book publishing.

The key point is this: Publishers have considerably less industry and market leverage today than they did 20 years ago. Once upon a time book publishing was built around a scarcity model and publishers thrived. Digital disruption generally eliminates (most) scarcity. The resulting abundance completely destroys yesterday’s business models and forces most players to reinvent themselves to remain relevant. Those at the bottom of the smiling curve are at the mercy of those who rank higher on the y-axis.

In his article Thompson suggests that AT&T is “trying to stave off their inevitable future as a dumb pipe between valuable content and valuable devices”. Sounds very similar to the position book publishers find themselves in today, doesn’t it?

So how does a publisher climb out of the trough of the smiling curve? It’s easier said than done but I believe it comes down to publishers placing significantly more emphasis on what they do best.

For example, has your organization truly distinguished itself by being the best at finding and nurturing new author talent in a particular topic area? What would have happened to those authors without your team’s discovery and development efforts? If you truly believe your organization was the game-changer for these authors then you need to emphasize that capability and make sure every new author in your space is aware of it.

That’s one approach for dealing with the left side of the curve but what about the right side? If you’re wildly successful dealing with the left side you might not have to worry about the right side. But let’s face it. Most publishers aren’t really that great at the left side so they need to pay attention to the discovery element.

Is it even possible for a publisher to play a significant role in discovery? Some publishers would suggest they rely on their channel partners (e.g., retailers) to take care of this. These same publishers have a marketing and PR team though. They all have websites and most of them tend to utilize social media and email marketing campaigns, so I’ve got to believe they want to play a role in discovery.

The problem is most publishers only apply a half-hearted approach to discovery. They might even offer a full e-commerce solution on their site but then they wonder why nobody comes to buy. The problem is they don’t offer consumers a compelling reason to change their buying habits. It can be done though and I offered some advice in a recent article here.

Most publishers desperately want to preserve yesterday’s scarcity-based business model but what they really need to do is acknowledge and embrace abundance, be willing to cannibalize yesterday’s revenue stream and focus on what really defines their brand for both authors and consumers. If you haven’t done so already, it’s time to read The Innovator’s Dilemma and think about how it applies to your business and the discovery challenge.

How digital can complement print

Laptop-819285_1920The beauty of the web is that feedback for what I write here is spread across a variety of platforms. These days it seems most of those community discussions are happening on LinkedIn and that’s where some recent comments helped me see the common thread across a few different topics I’ve been writing about.

A couple of weeks ago I noted how Nielsen data indicates a large chunk (49%) of ebook readers are also still buying print. In other words, almost half the reading community surveyed by Nielsen is straddling the fence between print and digital.

Now think about the topic of last week’s article: Publishers are worried about whether or not they can change buyer behavior and attract consumers with a compelling D2C solution. As I mentioned in that piece, a successful D2C offering must include content and services a consumer can only find directly from the publisher, not via retailers.

Instead of looking at digital and print as separate initiatives and consumer bases, it’s time for publishers to invest in digital companions to print products.

What can you create digitally that makes the print reading experience more engaging? Think about companion apps for your most successful print products. More importantly, think about how you’ll deliver those apps directly to consumers.

Here’s an example: I’m currently reading the legendary Gordie Howe’s autobiography, Mr. Hockey. I bought the e-version but this applies to print readers as well. I’m still in the early part of the book, learning about Gordie’s youth and curious to learn more about where he grew up and what that part of Canada looks like. I’m sure my curiosity will continue through the book as I read about the various youth hockey programs he dominated as well as his many years in the NHL and WHA.

If I want to take a deeper dive into Gordie’s story most of it is only a few Google searches away. But why force readers to sift through piles of Google results in search of the most interesting nuggets? Why not have the editor or author provide their recommendations? Put those links in an app that I can open on my phone next to my tablet (or print edition of the book).

Next, make it social. How many people reading this book saw Gordie play in person? Quite a few, I’ll bet. Many of them probably also have photos from those days they could quickly and easily contribute to the app, making it even more valuable for everyone. I’d love to see some previously unpublished shots of Gordie from the 1950’s or even the early WHA days. The app then evolves into a community product and becomes richer as time goes on and more readers contribute their memories.

Next, and I realize Gordie isn’t in the best of health these days, but why not have the author make a cameo appearance in the app from time to time? Publicize a live chat with the author every so often and make sure that session is only accessible in the app. Record those sessions and maintain them in an archive area of the app.

The companion described above is probably a freebie for everyone but I can envision some models where the app might cost 99 cents or even a few dollars. It all depends on the added value it offers. It’s a terrific promotional vehicle for the publisher and a way to establish a strong, meaningful direct relationship with consumers.

Here’s the most important point: Make sure the digital companion is prominently featured in all versions of the book, including print and every flavor of e. It should be the first thing readers see when they open the book. A message like, “Thanks for buying this wonderful product. Be sure to visit our website to obtain the free companion we’ve created for it.” When they come, they register and are asked to opt into your marketing program(s).

A strategy like this not only increases the value of the original book, it also helps publishers create that compelling D2C solution and converts indirect customers into direct ones. It may not work for every book but I’m convinced it’s a model worth pursuing for most titles, especially your bestsellers. 

Direct-to-consumer: Can you change buyer behavior?

Shopping-cart-728408_1920I recently visited a mid-size publisher to discuss direct-to-consumer (D2C) strategies with their sales and marketing leaders. Towards the end of the session I was asked the most important question of the day and it’s something publishers pursuing a D2C solution need to carefully assess: Can we really change buyer behavior?

The point is that most consumers are trained to buy from Amazon. Further, those same consumers don’t want to bother with multiple bookshelves and accounts. Once you start buying from one ebook retailer you tend to stick with them.

I’m an Amazon Prime member and that means Amazon is the first place I look to buy just about everything. Heck, we even “subscribe” to dog food on Amazon for our three basset hounds, so I’m a textbook example of a consumer who’s been trained by Bezos & Co.

My answer to the question was simple: No, you can’t change buyer behavior…unless you can truly offer a compelling reason for consumers to buy direct.

Simply adding a shopping cart to your catalog pages won’t cut it. You’re also not going to make a dent trying to beat Amazon on pricing, so why create a race to the bottom?

In order to change buyer behavior you’ve got to think about how you can offer something consumers won’t find anywhere else.

I told this publisher’s sales and marketing leaders they need to envision a product assortment that showcases items not available on Amazon or any other retailer. I’m talking about short-form content that complements their books, video material that’s only offered on the publisher’s site, and yes, even some full-length ebooks that aren’t distributed through traditional retailer channels.

Samples are another way of creating a compelling D2C solution. Publishers should super-size the samples they offer on their site. Make them longer than the ones consumers can get elsewhere and, when possible, add elements to make them richer as well.

Timing of samples can also be leveraged. Why not make those samples available earlier and exclusively on the publisher’s website? One of the things that frustrates me about upcoming titles is how the sample isn’t available till the book publishes. Why? OK, I know the goal is to have a coordinated launch date so that title rankings will all benefit from a synchronized release. Fine, but let me grab the sample before publication and backorder the title so I don’t forget about it. Publishers, you should offer samples exclusively on your website a month or so before the book actually publishes. Attract consumers and train them to come to you for the sample, not the retailer.

For publishers willing to acknowledge that digital rights management (DRM) only provides a false sense of security, sell your ebooks without this annoying limitation. Also, provide all formats to consumers when they buy direct (e.g., EPUB, mobi and PDF). Leverage services like Amazon’s “Send to Kindle” to push your D2C books onto the consumer’s Kindle bookshelf.

Turn all these services into a club readers can join then focus on surprising and delighting them every step of the way.

I admit this isn’t a model for all publishers. If your title list is wide and shallow, offering only one or two titles each on a large number of topics, you’ll never make this work. But if you cater to a particular genre or subject and your title list has plenty of depth you’ve already got the foundation for a compelling D2C solution.

Also, don’t underestimate the amount of work it takes to build and maintain D2C momentum. You need to plan a steady stream of exclusive content offerings and services, just as a magazine publisher creates an editorial calendar. Don’t assume you flip a switch, offer a few exclusive items and you’re done. This requires an ongoing commitment of dedicated resources.

If you’re one of those publishers with a deep foundational list you have two choices: You can either diversify your channel strategy by investing in a strong D2C model or you can sit back and let the big retailers determine your destiny. I strongly believe those who choose the former will be in a much better position to survive and thrive. 

Direct-to-consumer (D2C) starts with building community, not owning the sale

Directory-881420_640More and more book publishers seem to be focused on building a better direct relationship with consumers. Some of these direct-to-consumer (D2C) efforts are well thought-out while others are nothing more than publishers following the crowd.

How else do you explain so many publisher sites that are simply catalog pages with the option to by print or ebooks direct? What’s the compelling reason for someone to come to the site? Even if they find the site why would a consumer consider buying direct rather than from their favorite retailer?

It reminds me of the old days when everything was driven by seasonal (print) catalogs. The accounts insisted on having enough lead-time to promote titles, so the summer titles were presented the previous fall or winter. The print catalogs were then left behind with the buyer as evidence of the sales call presentation.

Most of today’s publisher websites are nothing more than the digital version of those seasonal catalogs. And since there’s no compelling reason for consumers to discover and explore them, many of these websites are ghost towns.  Publishers create them and then wonder why nobody visits or buys.

Here’s something most D2C-focused publishers overlook: It’s virtually impossible to change a consumer’s buying habits. The larger my Kindle ebook library, the less likely I am to buy my next ebook from a retailer not named Amazon, and that includes an aversion to buying direct from the publisher. It’s that wonderful retailer walled garden phenomenon; and those walls are something publishers helped create by insisting on locking their books inside DRM.

So if that spiffy website is unlikely to generate direct sales why does it exist? If your answer is “to increase discovery”, do yourself a favor and study the results of a Google search for your top titles, series and authors. If your pages aren’t among the top search result links you’re kidding yourself with the “discovery” justification. The top results are the ones getting all the clicks.

Rather than trying to change consumer buying habits and owning the sale, publishers should instead focus their D2C efforts on building community. Publishers own the relationship with authors, so as a publisher, what are you doing to build community around your authors? What are the top three reasons are you giving consumers to come to your website?

Btw, authors are just one component. Many publishers have popular series or dominate a specific genre. What are you doing to build community around that brand or genre?

It’s OK to still offer direct buy buttons on each title’s catalog page but your D2C buy buttons should be offered alongside buy buttons for all the popular retailer sites.  That includes buy buttons for print as well. Let the consumer decide where they want to buy and don’t force them to hunt for your product on a retailer’s site.

If publishers don’t spend the time building this community with consumers, who will? The retailers aren’t going to do it. Their focus is way too broad.

So although most publishers missed out on the opportunity to go direct in the digital era, there’s still plenty of time to establish a strong consumer relationship by using your site to build and foster community. Just be sure to keep your priorities straight and focus on community first and owning the sale second.

Blinkist and the “read less, learn more” movement

Remember the “info snacking” phrase that was somewhat buzzworthy several years ago? The thinking was that everyone was too focused on reading short bursts of content and soon no one would have the attention span to read an entire book. In fact, info snacking was one of the terms Jeff Bezos mentioned when the Kindle launched; he suggested that the Kindle would encourage more deeply engaging, long-form reading.

And now we have Blinkist. Think of Blinkist as info snacking for books. Blinkist summaries are so short they make Cliffs Notes seem like long and boring tomes.

Let’s leave fiction off the table for a moment and talk about books on business strategy, investing, management, marketing, etc. How may of those 300-page books have you finished and immediately realized the author could have conveyed the critical points in about 5 pages?

You can almost see the editor telling the author, “this is great stuff, but we need you to double/triple/quadruple the length.” That (sort of) made sense in the brick-and-mortar days when a shelf presence drove discovery but now these books feel like they’re artificially inflated.

I’ve only read a few book summaries on Blinkist but I think they’re onto something. Yes, I remember (and once subscribed to) other summary services including getAbstract and Executive Book Summaries. I always found those to be nothing more than glorified tipsheets. If you really wanted to learn the key elements of the book you still had to read the whole thing. Blinkist’s summaries are definitely superior to others that I’ve read before.

10-15 minutes is all it takes to read one of the many well-written Blinkist summaries. Have you always wanted to read The Lean Startup? Why spend hours reading 300+ pages when you can get the gist in about 10 minutes? How about Business Adventures, that classic book Bill Gates recommends every business leader read? You can knock out that summary in less than 15 minutes.

I think we can all agree that every book doesn’t lend itself to a good summary format experience. Some authors, even non-fiction authors, are wonderful storytellers. Bill Bryson is a great example. I read his A Short History of Nearly Everything several years ago and found it to be an amazing journey from start to finish. When I saw Blinkist offers a summary of that one I have to admit I cringed. That’s a book you should read in its entirety and there are, of course, countless others that should never be read only in summary format. So while there are exceptions to the summaries formula I tend to believe most non-fiction books are excellent candidates for an abbreviated alternative.

The big question I have is why aren’t publishers taking control of this model? Why rely on a third-party to write and distribute these summaries? Who is better qualified to do the job than the original author or editor? I could see publishers selling these summaries, standalone or as a subscription, direct on their websites.

We all know why publishers won’t do this though. Most publishers view this as cannibalization and replacing a higher-priced sale with a lower-priced one. That’s unfortunate but far from surprising. Smarter publishers will consider bundling the summary with the full ebook at a slightly higher price than the ebook alone. Others might find opportunities to actually charge more for the summary figuring it’s a time-saver and some readers will be willing to pay a premium for a faster read. Still others will use the summary as an upsell to the full ebook: When consumers buy the summary they also get a special, limited-time discounted offer for the full ebook.

Most will just sit and watch though. It’s a textbook example of The Innovator’s Dilemma, which, I might add, is also available as a summary on Blinkist. :-)

Here’s a dilemma every book publisher should hope to face

A recent email from Evernote piqued my curiosity. I’ve used the note-taking tool for years but never found a reason to upgrade from the Basic (free) version to the Premium (paid) version. Their email announced a “Plus” version with a laundry list of features.

Evernote Plus costs half the price of Premium and offers benefits that are somewhere between Basic and Premium. After reviewing the features I decided Basic still suits my needs, so I remain an Evernote freeloader.

I’m sure I’m not alone and I’m equally certain Evernote will continue tinkering with their business models. At some point they’ll likely hit on a combination that finally gets me to open my wallet.

You could argue that the biggest challenge for a company like Evernote is finding ways to convert more freeloaders into paying customers. It’s a tricky business situation and something that’s totally foreign to book publishers.

Why aren’t book publishers exploring more viable ways to acquire customers with free content and then converting them into paying customers?

The biggest free tool book publishers use today is a poorly conceived one: the ebook sample. When it comes to nudging prospective customers to click the buy button, most ebook samples are only marginally better than the book’s product page description. Samples are also distributed in a manner that doesn’t exactly encourage sharing with friends and family. 

Simply alerting me to a new book doesn’t do the trick either. I’m a big sports fan, mostly baseball and hockey. Long ago I subscribed to an email newsletter telling me about new books as they’re published in the sports category. I’ve never made a single purchase because of that email newsletter.

What I’d love to see, and something that’s more likely to drive conversion, is a service that gives me access to super-sized samples and other behind-the-scenes information about interesting new (and old!) sports ebooks. The service should surprise and delight me. Make me want to come back to this site/app by tossing in unexpected and unannounced deals, including ones that might only be available to me.

I’m simply looking for a better path to go from free content to paid content. Give me access to more content than I can get from a limited sample. Bring the authors into the mix and give them a voice at the table. Make them readily available for Google Hangouts and other ways of engaging with the audience.

Content distributed via this service should be completely free of walled gardens. The material must be available for download into whatever reading app the customer chooses. There should be buy buttons at the end of the super-sized sample and they should be offered for all retailers, including the publisher’s own website.

Don’t forget the data opportunity here. An opt-in could enable user data to flow back to the publishers (e.g., page views, popular titles, sample downloads, purchases, etc.). 

A well-designed service like this would have to be developed independent of the retailers; otherwise it simply becomes another extension of their walled gardens. It would also greatly expand the reach and success of plenty of ebooks.

In order for this to succeed, publishers (and authors) must be willing to make more of their precious content available for free. They’ll eventually face the same dilemma Evernote faces every day, but I’d argue that’s a problem every book publisher should embrace.

Lessons from one publisher’s aversion to ebooks

I recently did something that I haven’t done for more than five years: I bought a physical, print edition of a book. For myself. I didn’t want to, but I had to. The publisher made me do it. The story behind my purchase offers lessons for all book publishers, but especially those who have yet to embrace the ebook market.

I’m a huge baseball fan and when I heard that Hal McCoy, a legendary sportswriter, recently published a book about his career covering the Reds, well, I had to have it. If you take a quick look at that link to the book on the publisher’s website you’ll see they only sell a print edition there. A quick look on Amazon shows that print is the only option online as well.

What's next, now that ebook sales are flattening? Join me at a free webinar on April 28 to see how to drive revenue growth. Click here to register.

That made me stop and double-check the pub date. It’s 2015, after all, and surely every publisher offers e-editions of their frontlist, right? I’ve apparently stumbled across one of the remaining publishers who is still stuck in the 1990’s. 

Not to worry… I figured I’d just run out to one of the many local brick-and-mortar stores and buy a copy there. No dice. There’s not a single copy of this book to be found at any of the local stores.

Amazon offers it at 21% off the publisher’s list price though, and since I’m a Prime member I’ll get it in a couple of days. So here we have a small boutique publisher who is contributing to their own market limitations. In this world of digital abundance they prefer to live in the era of physical scarcity.

Why print-only? It’s hard to assume they haven’t found a viable way to quickly, easily and inexpensively create EPUBs and mobi files. Not only are there a variety of simple tools for this but there are dozens, if not hundreds, of outsource providers willing to do it for a song.

Is it fear of cannibalization? Perhaps. But is that such a bad thing? I’d argue in this case that the number of potential customers who aren’t buying the print edition because it’s not available far outweighs the number of customers who might opt for a cheaper e-version over of print.

Here’s a radical idea: Charge 50% more for the e-edition. So that $19.99 print book lists for $29.99 as an ebook. Even after Amazon applies their consumer discount the publisher still makes more than they do on any print copy sale. Btw, I paid almost $16 for the print edition through Amazon but I would have gladly paid $29.99 for an e-edition, if only they’d offer one.

The publisher wouldn’t have to stick with a permanent digital list price that’s 150% of the print list. Maybe they could just have it set that high for the first 30 or 60 days, for example. The key is to measure the results, see what can be learned from the combination of print and digital sales and adjust accordingly.

Here’s another radical idea: Sell the ebook direct exclusively for 30 or 60 days. After that initial period offer it through all  theother ebook channels. (Yes, I realize this means the publisher has to renegotiate terms with distributors.)

As a consumer I admit that I’m not a fan of paying more or having to go through some crazy DRM process on a publisher’s website when I buy direct. But in this case I’d be willing to live with both of those situations.

At the very least, how about this?: Offer me an e-sample on the publisher’s site so I can start reading the book while I wait for the print copy to arrive. And please don’t lock that sample…make it easy to copy and send to others; after all, it’s a marketing tool for the publisher and the author.

Lessons learned at Book Business Live

The team at Book Business recently hosted a one-day, invite-only event in NY. I had the pleasure of attending as well as moderating the first panel of the day, Transforming Your Company for the New Era of Book Publishing.

The day was filled with highly engaging discussions featuring panelists from McGraw-Hill, Pearson, Hachette, Cengage, Perseus, Rodale, HarperCollins and Scribd. Here are a few of the most interesting points I took away from the event:

Direct-to-consumer (D2C) and competitive pricing – Towards the end of my session an audience member asked our panel the following question: How is it possible to build a direct channel when Amazon is always going to at least match, if not undercut, your prices? Clancy Marshall of Pearson provided a terrific response. She noted that her team is focused on creating a broader, more compelling learning environment, not simply trying to sell a book at the lowest price. This is perhaps the most important thing for publishers to keep in mind as they build out their direct channels: It’s all about creating a reason for consumers to come to you, not simply trying to offer the lowest price. You’ll lose 100% of the time if you’re trying to build a D2C channel based solely on low prices.

What's next, now that ebook sales are flattening? Join me at a free webinar on April 28 to see how to drive revenue growth. Click here to register.

What are you going to do with that data? Tom Breur of Cengage told an interesting story of a correlation they noticed between text highlighting and student performance. They looked at the performance of students using a particular title and tracked how often the student tended to use the ebook’s highlighting feature. It turned out that students who highlighted more often generally got lower grades in the class. Their conclusion: Students who highlight are just skimming, not closely reading the text. The real question here is this: As you and your organization gather more data from ebooks, what will you do with that data? It reminds me of those registration cards that used to appear in the back of print books. I once worked for a publisher who had an office with stacks and stacks of those cards, carefully filled out and mailed in from their readers. The cards were just sitting there, taking up space and collecting dust. Gathering the data is just the first step. In the Cengage scenario, I’d like to think they’re developing ways for their platform to help highlight-happy skimmers become more engaged readers.

The lean model is alive and well – I almost stood up and cheered when Mary Ann Naples of Rodale mentioned their use of the lean startup model. We first started talking about the lean approach at Tools of Change several years ago and it’s great hearing that at least one publisher has fully embraced the concept. If you’re not familiar with the lean approach you’ll find all the resources you need here.

Indirect and direct can coexist and thrive – Mary Ann Naples also helped explain how a publisher’s D2C efforts don’t have to conflict with indirect/retailer channels. She talked about the importance of building community, something I believe is critical for publishers to create consumer brands, not industry brands. Further, she pointed out that a publisher’s community-building efforts help establish a compelling D2C solution while also helping their product stand out in the crowded indirect channels. In short, community can be leveraged to build a stronger consumer brand across all channels.

Focus on your biggest fans – I loved this point made by Rick Joyce of Perseus. He talked about how the music business is so good at selling more products to a band’s mega-fans. A broad consumer approach is fine but what about that portion of your list that tends to have the strongest following? It might be a particular series or author, for example. Are you creating the deluxe editions, the boxed sets, the must-have versions that those fans crave? And are you working with that part of your customer base to build the community foundation of your D2C efforts?

Kudos to Denis Wilson of Book Business and all the speakers who were remarkably transparent in their discussions and audience Q&A. If you ever have a chance to attend one of these Book Business events I highly recommend you make the time for it.

Is the Ebook Revolution Over?: Driving Ebook Growth as Sales Plateau

You knew it wouldn’t last forever. You expected the double-digit growth rates would taper off but you never anticipated your ebook sales would flatten out so quickly.

Is the ebook revolution over?  Is this as good as it gets for ebooks? Or is there something you can do today to generate ebook revenue growth like you’ve seen in the past?

To help answer these questions I'm pleased to announce a free Olive Software webinar I'm hosting which will show how publishers can grow their top line and, at the same time, wrestle back control of their business.  

Here are just a few of the topics we plan to cover:

  • Why the market is flattening out
  • What will drive future growth
  • It’s not print or digital; it’s print and digital
  • How indirect can help drive direct sales
  • The tools and techniques you need to succeed
  • How Olive can be your growth partner

Please join us at 1:00PM ET on April 28 for this 30-minute session – click here to register now, as virtual seating is limited. 

How digital can be a companion for print

Congratulations, print publishers. You dealt with enormous disruption these past several years and you managed to avoid the same fate as your music industry counterparts. For example, most book publishers still generate 70-80% of their revenue from print. How many music labels can say they generate anywhere near that percentage from CDs?

Is the survival of print a good thing or a bad thing? Rather than worrying about that one, here’s the question we really need to think about: Why do we treat these two formats as mutually exclusive?

Depending on what they’re doing, why do consumers tend to use either print or digital but almost never use print and digital for the same product?

I’ll use myself as an example... Believe it or not, my wife and I still subscribe to our local print newspaper, the Indianapolis Star. Our subscription plan includes a digital version as well as print. When I’m at home I always read print and never bother opening the digital edition; when I’m on the road, of course, I’m limited to a digital-only experience.

Why do I never bother opening the digital edition when I’m home? Because it’s just a digital replica of the print edition I read over breakfast. OK, there might be a few extra bells and whistles in the digital edition but they’re not significant enough to get me to open the app after I’ve read the print edition.

The same is true for books and magazines. Digital simply replaces print, so there’s no reason to use both formats for any given title.

I think it’s time to reimagine digital as a companion to print, not simply a replacement for it.

Today’s digital editions are nothing more than print-under-glass. They’re digital replicas of the print product. As a result, we tend to buy one format or the other, but rarely both.

I used to publish technology books for IT professionals. Many of those books on programming languages and productivity tools had companion websites. The websites offered additional content, sample files and other goodies that didn’t come with the book. These sites also represented a way for the publisher to dynamically extend the original content with additional elements and coverage, some of which might not have been available when the book was originally published.

I’d love to see the industry evolve to the point where each print product has a digital companion, not just a print replacement. The digital companion would extend and enhance the print experience and would be an optional add-on to the print product. Some of these digital companions could be free but the more valuable ones could have a price.

Btw, publishers could offer these companions exclusively on their websites, converting print customers who bought from Amazon and elsewhere into direct customers. Promote them in the print product and bring those customers to your website where you can build a direct relationship, up-sell, cross-sell, etc.

A couple of weeks ago I wrote an article called Why Johnny doesn’t like e-textbooks. Maybe Johnny doesn’t want the print-under-glass digital edition of the textbook, but I’ll bet he’d be interested in a digital companion for the print textbook featuring notes from other students, cheat sheets for test prep, sample quizzes, slide decks from class lectures and better explanations of key topics from other students and teachers.

Textbooks aren’t the only products that could be further monetized with digital companions. Just about any type of content lends itself to digital extension and enhancement. We just need publishers and authors to start thinking of digital as a companion for print, not simply a replacement.