Innovation in Publishing

The innovation imperative is vital to every business's survival and growth. “If we don't change what we offer the world (products and services) and how we create and deliver them, we risk being overtaken by others that do.” (Bessant, 4) According to Bessant & Tidd every innovative measure undertaken should follow a model where the opportunity is recognised, resources are found, the idea is implemented and value is created.

In publishing the Book App is a new product that has taken advantage of the opportunity opened by technological change in the form of Apple's touchscreen Ipad device. Increasing digitisation has allowed publishers to create an entirely new storytelling product. Publishers are making impressive use of such opportunites, incorporating audio readings, video performance, interactive notes and original manuscript scans into these apps.

Secondly publishers have had to compile the right resources in the form of people and money. Publishers are training and recruiting new staff and investing large sums in this costly enterprise, (Ustwo's Nursery Rhymes with Story Time costing £60,000 to make). This commitment towards innovation contains a high amount of risk, but one can argue that publishers are prepared for this as they are fundamentally risk takers, carefully studying markets and investing in products with the biggest chance of success.

Publishers are subjecting the process of creating their content to innovation in order to implement their idea. This takes the form of changes to their overall business model and strategic use of their resources. Publisher Faber has formed a radical partnership with creative agency Touch Press in order to create pioneering product The Wasteland. Touch Press's influence has brought a “different and native way of thinking about digital” (Franklin) enabling them to push the medium forward through this partnership perhaps more effectively than through simply training and recruiting individual staff. Faber's business model for app publishing rests on this partnership and the strategy of sharing costs between the two companies.

Publishers should however look to use risk management in their implementation, as the revenue made from apps is still so low (Ustwo's chart-topping app only making £2,000 a day). “By installing a series of “gates” ...it becomes possible to review -and if necessary redirect or even stop something which is going off the rails.” (Bessant, 19). Innovation requires caution, but publishers should not be so quick to assume failure where apps are concerned. As the model states “Innovations diffuse across populations over time,” (Bessant, 19) and the Book App is still in its youth. Publishers must now maximise their chances by initiating innovative app marketing strategies.

Bessant, J. and Tidd, J. (2011) “The Innovation Imperative,” Innovation and Entrepreneurship, 2^nd ed., Chichester, UK: Wiley & Sons

Franklin, D, Dredge, Stuart (2011) “Book Publishers Hope for a Sales Boost from apps innovation” The Guardian <http://www.guardian.co.uk/technology/appsblog/2011/jun/17/futurebook-apps-conference> Accessed 29^th Jan 2012.