The Ebook Value Proposition Problem
My youngest daughter asked for a Harry Potter boxed set for Christmas. As I wrapped the heavy, bulky package I kept wondering why she didn’t opt for the ebook collection instead. On Christmas morning I learned why: each title in the boxed set comes with a new cover. Actually, they were supposed to have new covers but we got the wrong box, so the heavy, bulky package is about to be returned.
My daughter reminded me that ebooks are often inferior to print books. In this case, she values the ability to showcase her collection, something you just can’t do with ebooks. When we finally get the right set I’m sure she’ll smile every time she looks at the box on her shelf.
Let’s compare that to the ebook experience. My collection is a library buried deep within my iPad. When I look at my iPad I don’t smile . . . I just wonder if it’s fully charged for the day ahead. And although services like Goodreads can fill the digital void and help you show off your print and ebook collection, I stopped logging books there years ago; Goodreads can never replace the serendipity and conversation-starter capabilities of a physical bookshelf.
DRM and publisher pricing models also often make print more attractive than e. DRM prevents me from sharing a book with a friend or passing it along to a family member when I’m finished with it. Also, the new agency pricing model means that consumers often only see a small savings between the e price and the print price. In some cases publishers are asking consumers to pay almost the same price for the e edition which clearly has no COGs, comes with plenty of restrictions, and offers nothing more than a print-under-glass experience.
In short, most ebooks suffer from a value proposition problem. To address this situation publishers need to rethink their digital value proposition and invest in innovation.
Regarding value prop, publishers need to understand who is buying their content and how it is being used. For example, if the ebook is simply a digital alternative to the print version, offering nothing more than a print-under-glass experience, they might want to consider employing the digital companion model I described last week.
Innovation is where the real future opportunity lies though, and I’d like to illustrate that with a product that seemed to reach the end of its innovative life long ago: maps.
Remember when GPS devices became affordable several years back? They brought an end to wrestling with enormous maps that required an origami degree to fold back into their original state. Then smartphones hit the scene and their built-in sensors made dedicated GPS devices obsolete. Google Maps on your phone showed you where you were and gave you turn-by-turn advice on how to reach your destination. It seemed as if there were no more innovation opportunities for maps. . . and then Waze arrived.
Waze brings the power of community to mapping and navigation. Thanks to Waze I see real-time warnings for debris on the road, stalled vehicles on the shoulder or congestion to avoid. Before I hop on the interstate I make sure Waze is up and running. And because Waze is community-based I try to be a good community member by contributing as much information as I consume.
The next time you think about your digital content strategy, try to avoid looking at everything through the simple, restrictive lens of print-under-glass. If maps can continue to evolve I’m quite certain books will as well.