Developing a data strategy with the DIKW Model

We all know that data matters. But for publishers looking to become more data-savvy, it can be hard to know where to start, especially when we are often dealing with qualitative data. Which metrics are important? How do you incorporate data collection and analysis into your workflow? Finding yourself with a glut of data and no real way to interpret or incorporate it isn’t much better than no data at all.

Frameworks for data collection and analysis can help. They provide structuring principles to guide publishers who are developing a data strategy. One that we’ve been thinking about since we attended the Firebrand Community Conference is the DIKW model.

DIKW stands for Data, Information, Knowledge, Wisdom. The pyramid structure represents a process of refining raw data into actionable insight.

Data refers to information in its raw form. This broadest and lowest tier of the pyramid represents the whole glut of information that’s available to you. In this system, data has no context, but is readily available. It needs to be interpreted.

Information begins the interpretation process by putting that information in context. This might mean answering the who, what, when, where, and why’s of the data from the first block of the pyramid.

Knowledge puts the information you have in context. It might link the information you’ve already gained earlier in the pyramid to other pieces of information or take into account trends or events that happened around the same time as the pieces of information were gathered. This block of the pyramid looks at how the information you have fits into a more global view of a project or an industry.

Wisdom, at the top of the pyramid, is what you do with the knowledge you have. Wisdom determines the path forward given the ways you have interpreted the data. Ultimately, when publishers say that they want to be data-driven, they mean that they want to get to this point of the pyramid, where their next steps are guided by data insights.  

Let’s see this in action with a famous literary example.

  • Data: 031544
  • Information: This is a date – March 14, 44 BCE
  • Knowledge: There was a prophecy (at least in Shakespeare’s Julius Caesar) to “beware the Ides of March.”
  • Wisdom: If you’re Caesar, consider calling in sick to the Senate.

Now, let’s put it in terms of the information available to publishers within their NetGalley accounts.

  • Data: 589, 82018, 2304, 011819
  • Information: 589 and 2304 are impression counts for two different titles, Title A and Title B. 82018 and 011819 are the dates that each of the titles went live on NetGalley. Title A went live on August 20, 2018 and Title B on January 18, 2019.
  • Knowledge: Both titles were listed as Nonfiction (Adult) and Biographies & Memoir in NetGalley. The publisher booked an eblast for Title B that went out to all NetGalley members who are interested in the Nonfiction category.
  • Wisdom: By comparing two similar titles that fared differently on NetGalley, we can see two differences immediately. Title A was put on NetGalley in the end of summer when many members are on vacation, meaning that they might be less likely to be at their computer requesting new titles to read. The publisher might consider putting titles up earlier in the summer so that members can read them on vacations, or later in the fall when business-as-usual has resumed. Additionally, we can see that booking an eblast seems to have had a huge effect on impressions, which can help the publisher determine where to best spend ad dollars in the future.

The DIKW paradigm isn’t the end-all, be-all of data-centered decision making. Some critics have pointed out that the pyramid is too rigid and hierarchical. We certainly see their point, and recognize that flexibility is a crucial aspect to successful decision-making.

DIKW is best thought of a starting point – a structure that can be tweaked. It’s a way to begin to think about what data points you as a publisher need to be collecting, what context will help make those data points meaningful, and how you can take that information with you into the future. For publishers who are in the process of asking themselves what it means to be data-driven, the DIKW pyramid is a great place to start.

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Booknet Canada’s Tech Forum: Data, diversity, and collaboration

Each year, Booknet Canada hosts Tech Forum, the largest tech-focused professional development event in the Canadian publishing industry. Like the other conferences and industry events we’ve been attending, panelists were thinking about diversity, inclusion, data, and collaboration. Here are some of our takeaways from Tech Forum 2019’s speakers discussing top-of-mind challenges and trends.

Moving from Diversity to Inclusion

The Canadian publishing industry is no stranger to the conversation around diversity and inclusion in the book world. Tech Forum’s keynote speaker Ritu Bhasin of bhasin consulting inc., addressed this in her presentation, “Disrupting Bias: Overcoming our Discomfort with Differences.”

Diversity, she said, is only one step toward inclusion. Despite best intentions, diversity is a numbers game – counting how many different “kinds” of people are in an institution. Diversity doesn’t ensure that individuals who have been marginalized in the publishing industry and elsewhere are encouraged to be their authentic selves or given the same opportunities as others. For example, diversity means advertising that a certain percentage of a publisher’s list is written by women or POC authors. Inclusion means ensuring that a publisher spends equal resources (or greater resources) to market its diverse list to give those books a better shot in the market.

Bhasin also mentioned that in 15 years Canada’s population is projected to be 35-40% POC and 6% indigenous. So, not only is it an ethical and social imperative to make a more inclusive industry, it is also best business practices.

We also saw questions of inclusion and diversity addressed at London Book Fair. Read our recap here.

Tools for Data-Driven Decisions

Jordyn Martinez, sales representative at Simon & Schuster Canada, explained how to use data to encourage more book sales in her talk, “Finding the Kernel: Data Driven Sales Tactics to Really Sell Your Book.”

She suggested that publishers use Google Trends, which analyzes the top search queries across customizable topics or categories. This useful tool can be used to discover data that can have a major impact on the marketing of your book, especially when it comes to advertising.

Take, for example, regional trends. If you’re hoping to sell your summer beach read, you can use Google Trends to discover which state or province is most likely to be searching for this term. This can help you hone in on how to spend your advertising dollars and get the most bang for your buck. With Google Trends, you can learn that Floridians are much more likely to be searching for beach reads than people living in Alaska, making it a far more sensible decision to start a beach-focused ad campaign in Florida.

Google Trends can also help you pick the optimal publication date for a title, as well. If you’re wondering when you should publish a steamy romance, Google Trends can tell you that the week after Valentine’s Day is the most popular for these types of searches.

Building Bridges Between Publishers and Booksellers

While publishers and booksellers are aligned in goal, we learned during “Building Bridges, Not Walls: Successful Publishing & Retailing Collaborations,” that they do run into issues executing their shared goal of helping books find their audiences.

Laura Ash from Another Story Bookshop told us that as a bookseller, she sometimes has a hard time restocking bestsellers, causing a critical gap between when the book is at its most popular and when they actually have it in stock. If books are out of stock, today’s readers aren’t willing to wait until the bookstore has it again. Instead, they’ll turn to Amazon or a convenient big box store.

Chris Hall of McNally Robinson said that he’s finding it more and more difficult to spot best sellers. But, he noted that for him, a bookseller’s job to generate their own bestsellers. He suggested using engaging displays, interesting newsletters, and targeting the local demographic to set a book up for success. For example, at his own branch in The Forks in Winnipeg, which has a rich history as an early Aboriginal settlement, they’ve worked extra hard to devote shelf space and hand-sell titles by local indigenous authors.


For more of our conference season coverage, check out our recap of London Book Fair and Livre Paris, as well as recent events from BIGNY and the Future of Media. And, keep up with NetGalley Insights conference coverage by signing up for our weekly newsletter!

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Future of Publishing Panel Takeaways

Data-driven discovery and trend predictions, plus what success looks like for books in 2019

On Thursday, March 7, NetGalley attended Centennial College’s Future of Media panel in Toronto. This mini conference features a larger discussion about the media landscape, with a specific panel to focus on publishing. With moderator Manu Vishwanath of Harlequin, the Future of Publishing panelists talked about how to incorporate data into decision-making and how to think about gaining the attention of an audience with limited time and budgets in an oversaturated media landscape. Here are some of the takeaways that we’re bringing with us into the future.

Panelists

  • Cory Beatty, Senior Director of Marketing and Publicity at HarperCollins Canada
  • Noah Genner, Director of BookNet Canada
  • Nathan Maharaj, Senior Director of Merchandising at Kobo
  • Kristina Radke, VP of Business Growth and Development at NetGalley
  • Léonicka Valcius, Assistant Agent at the Transatlantic Agency

The Future of Discovery

At NetGalley, discovery is one of our favorite words. Connecting readers with new books and new authors is the name of our game, and the panelists were just as passionate about this topic as we are.

While discovering the “next big thing” has always been a publisher’s dream, the reality of this actually happening seems to be getting slimmer every year. Not only are there more publishers who are publishing more books, there are hundreds of thousands of books being self published, and the global marketplace seems to promise that anyone with a talent for writing can make big on their own under the right circumstances. But publishers and authors need to work extra hard to retain a reader’s attention. The panelists discussed the pressing question: How?

Director of BookNet Canada Noah Genner opened up this conversation with data. He noted that leisure spending has not gone up and neither has the rate of leisure reading. This means that readers are struggling to prioritize enormous amounts of content without the time or money to spend on it.

To combat this, Genner told the audience that it’s more important than ever for publishers to have a voice and a brand that stands above the rest. Whether this means developing a niche, like Second Story Press, whose books with strong female leads and themes of social justice sets them apart, or running a smart and snappy Twitter account like Coach House Books, it’s your brand–not necessarily the next blockbuster book–that keeps readers returning for more.

Kristina Radke, VP of Business Growth and Development here at NetGalley, added that in order to make your book succeed, it’s crucial to not just look at a variety of KPI’s and early data, but to actually make time to understand it. There will always be multiple points of data that can be collected pre-publication–like the information on NetGalley’s Title Feedback Activity Page–but without taking the time to understand that data and change your plans based on what you learned, it’s never going to make an impact on the success of your book.

Focusing on the end users, Senior Director of Merchandising at Kobo Nathan Maharaj said that publishers should focus more clearly on appealing to readers who don’t have time to sit down for focused reading, through audio. Audiobooks can help rope in customers that don’t necessarily have the leisure time, but are still interested in the story format and do have the leisure money to spend on books.

The Future of Book Trends

On a panel predicting the future of publishing, it’s only natural that the conversation steered toward predicting future trends. Léonicka Valcius, Assistant Agent at the Transatlantic Agency, said that books are a cultural artifact that reflects society as a whole, and by reflecting on the events of today we can predict what trends will pop up in the next few years.

Take, for example, the dystopias of yesterday which became popular as the world experienced great political and economic upheaval. Now, we’re seeing a surge of “up-lit”, which emphasizes kindness, empathy, and happy endings. As consumers, we’re now looking for books that show us the light at the end of a long, dark tunnel.

Valcius also praised the data when trying to hone in on the trends of tomorrow. With all of the data that’s available to us digitally, finding what works is the challenge–but also the opportunity. While we may have a book that will only sell 200 copies throughout its lifecycle, with that data we can now predict what type of reader will buy those 200 copies and market accordingly.

The Future of Success

It is, of course, every publisher’s and author’s goal to see their books succeed. However, as Noah Genner was quick to point out, there are different  kinds of success, and it’s important for anyone in the publishing industry to evaluate their standard for what success means.

Senior Director of Marketing and Publicity at HarperCollins Canada Cory Beatty said that he regularly needs to set expectations with the authors he works with. Sometimes authors may be frustrated that their books aren’t immediately being buzzed about in major newspapers, and yet the marketing team for said book has been celebrating for weeks at the successes it has seen, whether hitting modest sales goals or generating consumer interest on Goodreads.

Kristina Radke returned to the data conversation, piggy-backing on the ideas about anticipating trends. Modern capabilities are making it easier for new players to join the game. For instance, Wattpad Books is launching a new imprint that will use machine learning to help predict the next hit story and further develop content from their site.


Keep up with the rest NetGalley Insights coverage of industry events, plus publishing trends and interviews, by subscribing to our weekly newsletter!

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Social Sharing on NetGalley is Buzzing!

Make the most of NetGalley’s social integrations

Word-of-mouth is one of the most effective ways to increase book sales. Whether this chatter happens face-to-face with friends, or digitally through online reviews or social media shares, the earlier audiences are talking about your book, the better! In order to facilitate this digital word-of-mouth, NetGalley introduced simplified social sharing in November 2017, to allow NetGalley members to connect their NetGalley profile with their Twitter, Facebook, Goodreads, and LinkedIn accounts to share their reviews with just one click.

This is great news for your titles! Reviews of your books are being seen on more platforms by broader audiences. You can track where reviews are being shared by checking the book’s Feedback Report in NetGalley. Plus, it’s easier than ever for publishers to encourage more cross-posting and successfully leverage the buzz. Here are some ideas and best practices we’ve observed in action:

Incorporate hashtags: Publishers can add a custom hashtag for any title on NetGalley. This helps to focus the buzz around a title, and can make members feel like they are joining a rich conversation online. Ask members to share their reviews on social media with the hashtags when you follow-up with them, and then use those hashtags to identify your most vocal pre-publication advocates. Retweet them, favorite them, and consider auto-approving those members in NetGalley! For more information about including hashtags in your NetGalley marketing plan, check out this 2-minute video.

Share the shares: If NetGalley members are sharing reviews on Facebook, Twitter, and elsewhere, consider using those reviews in your own social strategy. Retweet or re-post the reviews you see, and be sure to thank the member. Everyone loves a shoutout! Use screenshots or quotes of these shared reviews to demonstrate the word-of-mouth energy behind your titles and include them in sales presentations. They are visible proof of early consumer interest.

Learn more about your audience: In addition to watching your hashtags, you can use your NetGalley Feedback Report to see who has shared their reviews online. Digging into your data, including the social media presence of members who are talking about your book online, can give you some powerful demographic information about your audience. Are they mostly millennials who post on Instagram? Are they primarily baby boomers who use Facebook to stay in touch with their friends and family? Use this insight to guide your marketing messages and to determine which platforms are worth your investment of time or advertising dollars.

How have you successfully leveraged social media sharing in your marketing campaigns? We love to feature case studies from our community of publishers and authors.

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