With the increasing adoption of technology across the globe the world is only becoming better connected in terms of the information we share. With hyper-connectivity and device convergence becoming a reality, creating and consuming content is no longer time or device-dependent. While this puts the publishing industry on the threshold of a great opportunity, it also poses a challenge – or a problem of plenty if we could say.
In a world where content consumption is only increasing publishers have their hands busy, and despite their years of experience in understanding audience requirements, there is a huge gap between the supply and demand of quality content. According to a 2014 survey by the Content Marketing Institute, 64% of publishers say that their biggest challenge is producing enough quality content.
So how do publishers augment their content creating capabilities in a world that only seems to be asking more of them everyday? Well, the answer lies in something that started off as a means to increase traction on online content – content sourcing. Not only has content sourcing grown exponentially as a business in itself, but it has also helped publishers in managing their content shortfalls and expanding their content capabilities.
How do publishers augment their content creating capabilities in a world that only seems to be asking more of them everyday? Here are some of the key reasons why content sourcing is the next big thing in the world of publishing!
#1 Augmenting core publishing expertise
Through acquisitions and organic growth, major publishing houses have built their expertise in multiple content formats, but the industry overall is far from achieving the milestone. With formats like video, AR (Augmented Reality), and VR (Virtual Reality) becoming mainstream, content sourcing helps publishers augment their core capabilities with sourced content. This is becoming a trend with scientific publishers who have typically lacked video and VR capabilities that are fast becoming popular with their audience.
#2 Technology advancements in content sourcing
Think of content sourcing as the Gen Y of the publishing world. While the publishing industry has evolved to adopt technology, content sourcing was born in it. With advancements in technology and the rise of content aggregation, large publishing houses such as Springer Business Media and Macmillan are building their own content platforms where users can access content as well as contribute content or collaborate to create content.
Start-ups like NewsCred are leading the way in aggregating content and developing co-partnered platforms with publishers, making content sourcing really easy.
#3 The continued rise of influencers and thought leaders
What started as a means to keep subject matter experts engaged and motivated has ballooned into a business that just keeps on growing. With social media becoming a key part of our lives, the pedestal that thought leaders have been put on has got many publishing businesses to collaborate with for sourcing content. Such collaborations are mutually beneficial, in that influencers get to associate with a renowned brand and publishers get content that is guaranteed to work since influencers have a strong social following.
Many publishers are even setting up thought leadership incubators to promote subject matter experts to create content which clearly indicates how important content sourcing is becoming to the industry.
#4 Content based on experience over content based on facts alone
While this doesn’t apply to scientific publishing, in other cases content consumption has evolved with the rise of influencers. Audiences prefer content that is experience-based rather than purely fact-based since it creates a personal connection with the reader. While publishers can collate inputs and publish content based on research, getting an experience-based perspective calls for sourcing content from subject matter experts.
#5 Content sourcing
As subject matter experts have a better ‘on the ground’ view of the gaps in knowledge, many publishers work with them to source content ideas for developing quality content that is guaranteed to work with audiences. Not only does this give publishers better returns on content, but it also helps them create an engaged community of users and focus on their core competency – publishing.