Content Access Becomes King

The old mantra was that "Content is King" but that's changing quickly and it's now more true to say that "Content Access is King." The software applications that put the content in front of the user is what determines the winner.

In the overall evolution of the mobile app market, the open web, and the semantic web one irony is that while content is becoming more accessible, more accessed, and more widely used the seeming importance of the actual content is going down. Consumers have always thought of the content access tool as the product, not the content itself. When it was difficult to get to the content repositories, the Bloomberg terminal, LexisNexis green screen, and the CompuServe dial-up software were the product and there was no way to get to the content without going through the access platform.

The internet and search engines started the trend - consumers did a search and got results and never knew that the content was not owned by Google or Yahoo - and did not think about the quality, accuracy, or completeness of the search results because they were much more focused on the ease of access. This trend accelerates with newer internet applications and the Mobile Internet in particular. Users, consumer and professionals, will buy the apps that give them access to content - regardless of the content source. Yelp! and Urban Spoon replaced Zagat because it was easy to find and contribute reviews on your mobile device, not because the content was better or more complete than Zagat.

To compete in this industry today information services companies must:

1. Continue to make your content better - try to maintain the Accuracy, Completeness, and Timeliness gap between proprietary content in captive repositories and the Free Content so that the upstarts stay at 80% solutions (or go down, not up)
2. Innovate and deliver the world class applications and access points that consumers want. Incumbent information providers need to create rich mobile, always on, easy-to-use apps that make it easy to find, read, and contribute content from any device at any time that consumers like to use and promote to their friends. Rich User Experience, cutting edge software development.
3. Open up your content repositories through APIs to get your content used by new innovators. Embedding your content in the largest social media applications, the new local apps, and every entrepreneur's crazy new idea gets your content in front of new users and new customers. By making it easy to use your content in new ways and new ideas, you also forestall the creation of even more competitive content sources and make your content the preferred choice for every new innovator.
4. Overhaul your content supply chain. Make it nimble, make it flexible. New content sources, new content enrichment, new content integration. Faster, cheaper, and better.

More sophisticated customers may realize that free or smaller content providers do not meet the very high Accuracy, Completeness, and Timeliness hurdles that Professional information workers have. But they will still buy and use the easy-access mobile solutions to get access to the 80% content anywhere and all the time. As the 80% solutions get better (85%, 90%, ...), the professionals may decide they don't need to pay full price either.

Most ironically, the more content providers try to lock up their content, the more it will become commoditized -- startups who make great software products using a free content source because it's available and easy to use convince customers that the free content is good enough. There goes your proprietary brand and content differentiation.

Networked Content Manifesto

Yesterday Temis distributed print outs of their newly released "Networked Content Manifesto" at the SIIA conference in New York. Ignoring the irony of a firm focused on digital content processing printing copies of their content and handing them out (or maybe that's an accurate reflection of the current state of online publishing?), the manifesto is a good introduction to the concepts surrounding Semantic technologies and "Content Enrichment". In Alliance's Information Services industry focus, wework frequently with clients on implementing taxonomies, ontologies, classification systems, and other tools to automate the "Enrichment" portion of the information supply chain processing pipeline. Combining these sophisticated tools with good Master Data or Master Entity repositories and linking with other internal content or the public Linked Data initiative provides a much richer experience for researchers and content users.

By providing more meaning - more semantic information - about the concepts, people, and entities that are in the document and providing easy ways to navigate through the overall content space we can create a richer experience for the end user and make it easier to discover the information she is looking for. For the publisher this translates in to increased usage which means easy subscription renewals, so that's a good thing too!

Integrating Content in Customer Workflow Applications

As I discussed in my last post, it is critical for information firms to distribute and deliver their content where their customers want to purchase, read, and use it. In addition to needing to support more platforms and mobile devices, publishers need to integrate their content in to their customer's workflow applications. Typical customers do not purchase data, reports, articles, or analyses for fun - they purchase these content pieces to help them accomplish their larger business objectives. This might mean checking the credit history of a loan applicant, scouring scientific literature for a grant application, or analyzing the legal precedents of an upcoming case. In each situation, the goal of the customer is not to get a document to display on her bookshelf, but to get access to the information in the course of performing a larger task.

Obviously, the key to make this easy is to not force the customer to leave their workflow tools and go to a discrete content website but to INTEGRATE the content in to the workflow tool. In many cases Information Providers are moving up the value chain and selling those workflow enabling tools - for example:

• LexisNexis Litigation Workflow Tools
• D&B Risk Management Tools
• Thomson Reuters Healthcare Clinical Evidence Solutions

In each case, the Information Provider adds value to the raw underlying content by providing a business process focused (or Knowledge Worker focused) workflow tool to help the knowledge worker turn the content from "information" in to "knowledge". Of course, this value-add is in addition to the direct content value-add through aggregation, classification, entity recognition & linking, and analytics applied in the Information Factory.

By building these Workflow solutions on top of standard REST or WebServices API's, the provider is able to leverage the existing content repositories, search, and enrichment capabilities without having to create duplicate product stacks. And, as I mentioned last time, the same content could be directly integrated with a customer's proprietary workflow tools or data. A well thought out and designed API enables many additional distribution channels and revenue generation options with a high ROI by enabling both provider built workflow tools and customer integration. And of course those same API's can support the new mobile applications that customers want.

There is also a very fast growing and productive middle ground for Information Providers to integrate with - Microsoft Sharepoint. This is one of the fastest growing products in Microsoft history, and used (admittedly to varying extents) by many, or even most, Corporate customers. The ability to provide pre-built Web Parts that customers can easily install in to their Sharepoint portal to integrate a provider's search and document retrieval capabilities are very powerful and provide a low-cost, very easy way to move beyond a generic internet content web site to a more integrated Enterprise application. Providing additional Sharepoint workflow enabled components can enable an information provider to provide the full range of on-premise, Enterprise capability without the cost and complexity of Enterprise application development and maintenance.

Sell Where Your Customers Buy

Many marketing or business planning discussions eventually hit on the seemingly self-evident notion that you should "Sell What People Are Buying." (For a humorous discussion of this, see this blog) In addition to this basic truth, it is also important to "Sell Where Your Customers Buy." Think of the sidewalk entrepreneurs in New York City selling ice cold sodas or bottled water out of a cooler on the corner in lower Manhattan on a hot summer day. These vendors are able to charge a premium for a cold drink because they are right where the people are walking and thirsty - they are selling Where their customers want to buy.

For Information Providers, this truth is becoming very important. Not only is the Information industry moving heavily from a print to an all-digital delivery model, and not only are the roles of intermediaries and centralized procurement "locations" (such as corporate libraries) being diminished, and not only do Information Consumers have more choices and more access mechanisms than ever before, but in addition the easy access to information is changing the notion of information gathering from a stand alone task to simply one small (and hopefully automated) step within a larger process. Let me explain what I mean in a little more detail.

We all know that Print media is turning Digital. See the news stories about declining Newspaper readership, Amazon's (and BN's, and Border's, and...) push for digital books, the frequent discussion about the "Google Effect" on content providers, and the Open Access Initiative. The digital content is available on many platforms - the web, your mobile phone, smartphones, tablet computers, and e-readers. Information Consumers expect to be able to read the articles, analyze the data, and do their jobs on any of these devices, anytime during the day, on the train, in the airport, or wherever they are. This is what I mean by "Sell WHERE Your Customers Buy" - you need to be able to sell the article, or provide the data visualization, or the drill-down analysis on any device connected to the internet. If your valued, long-term Customer is sitting in the airport, curious about something she is not going to wait to get back to her office to use her subscription service to order a new report - she wants to download it to her phone, right now. If your service does not provide that, she will go to your competitor's app and get her Information right now. Your valued, long-term, trusted relationship goes right out the window because your Web 1.0 Information Delivery website cannot meet her expectation of instant information access.

The effect of this is to require every Information Provider to need an iPhone app. Well an iPhone app and an Android app. Oh, and an iPad app. And probably a Galaxy and Playbook app. And of course, a mobile friendly version of the web site. You can see, this quickly adds up.

Early attempts to create mobile apps usually involved creating a separate application stack, content collection, or Information Delivery Channel. This was the quickest, and least expensive approach to get the first mobile app out and does work. But the cost curve is not pretty, and you soon need to maintain and support 10 different applications, delivery channels, etc at 10x the cost for only marginal revenue increases.

The better approach is to build an API. Not just a dirty hack of a url that can be used to access content, but an actual, thought-out Service Oriented API that provides billing, metering, search, retrieval, and easy integration for apps. Now those 10 apps are just thin layers reusing the core SOA enterprise services and can be built and maintained cheaply. Better yet - if you have a loyal community who truly values your content, they will wind up building innovative apps on every platform you have never heard of to access and embed your content. This is because your customers are empowered to scratch their own itch, and build an application to solve their own personal or particular corporate need. And it turns out that a lot of times your customers know how to use your content better than your own product development team -- so the apps they build and the embedded data usage they put together are more useful to your customers than the pre-built website or stand alone applications you might design. Your customers become your distributors and open up entire new retail channels you were not even aware of.

So... you get more sales channels, at a cheaper delivery cost, with more customer value from enabling your content through an API. Sounds like a Win-Win-Win!