The link between Metadata and Sales... make your titles stand out from the rest and increase your sales!
As part of our commitment to ensuring our POD retail model offers publishers effective incremental revenue, this month Printondemand-worldwide was invited to attend an open day held by Nielsen, focusing on the importance of publisher, distributors, and agencies working together to ensure effective and efficient use of the supply chain.
Nielsen is the leading provider of a comprehensive mix of services that covers print and digital publications; collection and aggregation of data as well as disseminating book records worldwide.
The book trade, more than any other industry perhaps, is reliant on sharing product data in order to function efficiently. That’s why Nielsen has spent time researching the correlation between the detail of metadata provided by publishers and the resulting book sales.
Some of their key findings:
· The best performing titles are the ones containing key enhanced metadata elements
· Titles that meet the BIC Basic Standard see average sales 98% higher than those that don't meet the standard
· The addition of an image has a strong impact on average sales, of 268% in comparison to titles without an image
· Ensuring that all four key enhanced metadata elements are present on product records can help average sales rise by 55% in comparison to records where none of the enhanced elements are present
· Split into offline and online sales, offline sales see an increase of 35% for 'enhanced' titles, whereas online sales see a massive 178% increase
· For Fiction, Specialist Non-Fiction and Trade Non- Fiction the long description appears to be the most vital piece of enhanced metadata, whereas for Children's titles the most vital appears to be the short description
· Fiction is the genre most significantly affected by the completeness of both BIC Basic and enhanced metadata.
In short, in each way that Nielsen analysed the data, there was a consistent positive relationship between the level of metadata supplied and sales, with correlation being particularly strong for the online retail sector. It’s logical that an online consumer is reliant on the bibliographic data to locate the desired product, if that data is lacking or inaccurate, that consumer is bound to be dubious in purchasing that product. At a time where the digital world and online retail of both printed and electronic books is a key focus for publishers marketing I think it gives us food for thought. It is in fact the simple metadata, and enhanced detailed metadata, the small forgotten aspects of a book launch, which could in fact be the key to increasing your sales! Is your metadata as ‘juicy’ as it can be?
Click here to view the full white paper results from Nielsen.
To find out more about our retail model and increasing your platform for sale, click here.