Frankfurt, 16 March 2017 - Frankfurt digital services provider Bookwire is taking the next step by supplying its publishing clients with detailed analysis of reader data. It is adding ‘marketing analytics’ to the ‘enhanced analytics’ tool, which has already been used with great success since autumn 2016. Bookwire is presenting ‘marketing analytics’, an innovation for analysing, evaluating and optimizing price promotions as part of the marketing mix, for the first time, at Leipzig Book Fair.
‘Marketing analytics’ will soon be available to publishers as part of Bookwire’s ‘Bookwire MACS’ distribution platform. It pulls together information from sales and marketing into an intuitive data cockpit. The launch will focus on detailed analysis and optimization of price promotions.
Intelligent algorithm for evaluating, assessing and comparing price promotions
‘Marketing analytics’ is the result of Bookwire’s many years of experience as a comprehensive service provider for publishing clients, providing one-to-one support and advice, as well as programming its own tools and algorithms. The internally developed formula on which ‘marketing analytics’ is based is the result of this combination.
“We have been gathering and consistently analysing sales data and data from marketing campaigns, e.g. price promotions, ever since Bookwire began. This enormous amount of data forms the basis for the algorithm used in ‘marketing analytics’. The algorithm of the self-explanatory and intuitive tool enables publishers to identify, asses and compare price promotions with direct reference to sales achieved, for the first time. This benchmarking gives publishers new findings that can be implemented in future marketing activities’, explains Jens Klingelhöfer, manager of Bookwire GmbH.
Here are some examples of the benefits for publishers of ‘marketing analytics’ in Bookwire MACS:
· Up-to-the-minute performance trends - publishers can measure the success of on-going price promotions at any time.
· Detailed analyses with indicators and statistics on sales and turnover - processed in Bookwire MACS in graph and table form, e.g. a price promotion’s positive effect on sales and turnover or the long-term upselling effect of a marketing campaign.
· Simple comparison and assessment of price promotions - using the filter, sorting and export function, publishers are only a few clicks away from information about a marketing campaign’s success in comparison with other campaigns.
Publishers benefit from big data analysis for individual titles - and their entire catalogue
Jens Klingelhöfer sums up the new tool: “with ‘marketing analytics’, we’re giving our publishing clients a tool that enables them to make optimum use of findings from previous price campaigns for planning future marketing activities. We provide analysis of their catalogue, taking into consideration, along with genre and age-range of the title, the duration of the campaign, price threshold and lots of additional information that, when combined together, decides on a campaign’s success”. He is already looking to the future: “using the formula developed by our experts, price promotions are easy to create and, most importantly, optimise, even for large catalogues. This enables Bookwire and our publishing clients to make full use of so far untapped sales potential and to respond to the market even faster with automated processes. Over the coming months, we will be adding more forward-looking functions to the ‘marketing analytics’ tool and continually expanding our platform’s data cockpit. Our aim here is clear – to make our clients more successful and give them a head-start when it comes to information.”
Bookwire at Leipzig Book Fair: Hall 3, D211