Digital transformation is a process affecting all industries. While some sectors are more inclined to adopt new ways of working, others are more resistant to innovations introduced from outside. However, the conclusion is always the same: digital transformation is essential to maintain competitiveness in today’s business landscape.
In the publishing world, this transformation has also brought a shift in the business perspective, focusing not on the product itself but on the reader and consumer and their needs. This new approach was highlighted in the report “Industry Leaders’ Perspectives on the Digital Transformation Journey in Publishing,” presented at the Frankfurt Book Fair.
To compile this study, 25 key figures from the international publishing industry were interviewed to identify the objectives, obstacles, and solutions in this ongoing journey within the sector.
State of Digital Transformation in the Publishing Industry
The primary driver of digital transformation is consumer demand (41%), followed by the search for new revenue streams (26%) and the creation of new products and services (22%). Among those interviewed, there is unanimous agreement that digitalization is critical for business growth, though many frustrations have been encountered along the way.
The study focuses on analyzing the importance of five key elements of digital transformation: content storage, metadata, content agility (its ability to be reused), discoverability, and collaboration. The industry’s current approach is to prioritize some of these aspects, but not all of them simultaneously.
One of the most crucial points about digital transformation is that it must be undertaken as an integrated process, involving all parts and embedded in each company’s way of working.
Currently, metadata is the top priority (4.6 out of 5), though it is also the area with the largest knowledge gap (2 out of 5). Investment in metadata will continue over the next three years, as 90% of respondents confirmed they would make strategic investments in this field.
Discoverability (the ability of content to be easily found) is the second most preferred element as a transformational factor (4.5 out of 5).
At the bottom of the list is organizational culture, described by some as “fragmented,” “inconsistent,” and “limited,” which ultimately hinders collaboration among employees. Many still consider email and Excel spreadsheets sufficient tools for sharing documents in the workplace.
The biggest challenges executives face when addressing digital transformation include the lack of consistent standards, outdated files, the need for leadership to drive cultural change, and the search for people with the necessary skills.
Omnichannel Strategy in Digital Transformation
As part of the process of change and adaptation inherent in digital transformation, a new term has emerged: omnichannel strategy. The consumption of books was once limited solely to physical objects. However, over time and with the evolution of technology, numerous mediums have been created for consuming books (web, tablet, app, etc.).
Last year, the Unión de Editoriales Universitarias Españolas (UNE) and CSIC Publishing invited us to the VII Digital Conferences to discuss the challenges of operating in a digital environment. The roundtable in which our CEO, Juan Prieto, participated focused on “omnichannel efficiency” as the central topic of discussion.
At Ximdex, we have developed a technological component (XBUK) designed to take advantage of this technological context. It is a visual editor, similar to Canvas, that allows the creation of enriched books and their export in various formats, such as apps, EPUB, or multimedia web pages.
Its main advantage lies in its ease of use, thanks to the Canvas-style editor that enables any user, whether beginner or expert, to create complex eBooks. Users can work with layers to insert different elements such as text, images, or buttons, allowing them to design their own digital books, which can then be converted to the format that best suits their needs.
This solution is not only intended for publishing companies but also for other groups that work with these types of products, such as mass media outlets or communication agencies.
In conclusion, the publishing industry must face the challenges posed by digital transformation, which will ultimately result in benefits for both the companies involved and the end consumers, who have now become the central focus of the industry and the main driver of change.
