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With the increasing popularity and usage of e-Readers and smart devices on which eBooks can be accessed, the publishing industry is undergoing major changes. eBooks are taking a front seat with the evolving landscape of book sales. Publishers are keen to open their own eBook stores.
An eBook store is an Online Bookstore where one (a reader) can download eBooks in the form of eBook Readers. Publishers have an option of launching their own eBook store or take up sale online via affiliate programs.
Publishers can benefit from eBook stores in the following ways, as setting up an eBook store is a promising business opportunity due to the low start-up costs involved. Even more promising is the ever-expanding markets for eBooks over the global arena:
1) Differential Pricing:
Different sellers of eBook stores have different pricing strategies for the same eBook in the online eBook market, unlike the traditional book-selling system. The only downside is most eBooks are compelled to be sold at a lower price than the actual printed market cost, due to competition, availability & distribution concerns.
2) Global Outreach:
Publishers will have an enhanced outreach – nation wide and into international markets as well. Digital Publishing and hence distribution showcases unlimited scope with increased social media audiences across the globe apart from making the eBook available on Publishers website. Making use of widespread distribution on other digital platforms will further enhance the visibility and hence the outreach for wider audiences.
3) Low cost entry:
Entry into digital ecospace is a simple process with low entry barriers as having an online presence for publishing needs will also assist in building valuable relationships with the customer base thus benefiting the owners of Publisher.
Venturing into online publishing doesn’t require a huge investment and hence this is a boon in disguise as it’s a major incentive for novice publishers if they choose to be an early entrant sooner than later for quick adoption.
4) Minimal cost of Production:
In traditional publishing whilst bulk printing leads to lower costs, with the advent of eBook publishing, this is not the case. Also with eBooks, there is no concept of physical warehousing and the costs incurred, as eBooks can be downloaded innumerable times for free or once when subscribed. Updating an eBook is relatively easy, simple and more economical than its traditional physical book counterparts.
Hence the inventory, warehousing, maintenance and distribution costs are low with eBooks available in the digital formats.
5) Potential to generate new revenues:
eBook stores offer publishers to unlock newer revenue streams – in addition to saving costs in the form of inventory, printing, maintenance and distribution. eBooks can be made available on the website and also on market places so as to capitalize on the revenue generation streams.
Making independent authors to partner with publishers in facilitating an eBook platform to provide books for sale is also a revenue generating option.
6) Greater access to Content and Improve Visibility:
Being digital showcases wider visibility via websites, social channels and other digital platforms for publishers, to market their eBooks. The use of various social media platforms will assist to build brand, reach a wider audience to refine, re-define content and its marketing in various content forms for increased visibility and maximizing on the outreach.
7) Enhanced Storytelling with dynamic elements:
Evolving technological enhancements are making it possible for publishers to enhance their eBook reading experiences via incorporating interactive elements of storytelling into the content of the eBook.
Incorporating audio/visual elements such as animations, graphics into the content and its various forms will enhance the reading experiences to create a rich environment for reading and learning purposes.
Talk to the team of mPowerO experts to leverage on the prospects for Publishers, as Product Offering.
Write to us at firstname.lastname@example.org to get your queries duly answered and enable/switch to the revenue generation model of the Publishers’ Segment.
Happy to Help!