How to Be a Bigger, Better Book Publisher
Was there an overall strategy your company used that was successful in LWW’s growth?
Wohl: The strategy has focused on improving market share in the health and medical publishing areas, both through acquisition and through product innovations to capture more of its existing markets.
In addition, our publishing progress is grounded in its paperless workflow systems that improve article submission and tracking through to the published journal. LWW provides the broadest distribution of its journal content through customized society portal pages and through electronic distribution to the 13 million worldwide users of the online medical information provider Ovid Technologies (Ovid is also part of Wolters Kluwer Health).
LWW’s medical content is also sold to pharmaceutical companies in print and electronic formats, providing helpful educational tools and support for physicians worldwide.
Are there any creative financing/investment strategies that LWW incorporates to experience growth? And if so, what are they?
Wohl: LWW is part of the Health division of Wolters Kluwer, NV, a leading multinational publisher and information services company with annual revenues (2005) of $3.4 billion, approximately 18,400 employees worldwide, and operations across Europe, North America and Asia Pacific. With the backing and support of a multi-billion-dollar publicly traded corporation, LWW is able to make significant investments in new product strategies and new products for adjacent markets.
Does LWW utilize international expansion/licensing and new title acquisition strategies? And if so, what are they?
Wohl: LWW has a very strong international presence. We export our products around the world, as well as license translations in a wide range of languages and regions. …
What is LWW’s most successful strategy?
Wohl: Investing in markets that are experiencing growth, and developing products that better serve the education and information needs of our health care customers, in print and/or electronic formats.