Results from a Book Industry Study Group (BISG) study on publishing experimentation were shared last week at a BISG event. Of particular note: 69 percent of surveyed trade publishers and 77 percent of nontrade publishers said their experiments resulted in new products.
With a majority of respondents already engaged in experimentation, the focus for many now turns to harnessing innovation and ideas. From Publishers Weekly:
[Michael] Shatzkin advised publishers to have a formulized process for encouraging experimentation and companies should put one person in charge of the process. That person, Shatzkin said, shouldn’t come from the IT department, but rather should be someone from the publishing side with a background in business who understands the needs of the marketplace.