Outsell, Inc., one of the best sources for awesome insights and keen analysis for the information industry, just came out with their Information Industry Outlook for 2014. The theme for 2014 is Convergence Now! You can’t read it without getting jazzed, buzzed, motivated, and otherwise encouraged. Here is part of the sentiment that will pull you in and keep you reading:
We see devices, humans, technologies, value chains, content, and workflows blending and becoming one human-machine ecosystem. Techno sapiens, anyone? There’s no need for more discussion about the print-to-digital shift or about device adoption. It’s all one now, as information and technology have come together as a result of the big bang of Break and Reset and industry players grokking what growth in the New Normal requires.
Outsell’s discussion of the information industry is very broad as it encompasses IT, news, advertising, healthcare, social media and other sectors. Some of the more interesting takeaways from the report include these:
- It’s time to stop focusing on separate services within marketing for “mobile,” “social,” and “digital” and rebel against ad agencies that set themselves up as a “Social Agency” or “Mobile Agency.” We’ve shown again and again that advertisers rate cross-media approaches (combining digital, print, and in-person events) as much more effective than any single media — certainly more effective than just digital or pure-play digital.
- It’s becoming increasingly difficult to determine where humans end and where technology begins. Humans want access to everything — social networks, news, games, video, TV, platforms, and applications — and they want it all the time. Because of this, we embody our devices and connectivity to a point that it becomes a part of us; techno sapiens — smart technology getting smarter — live at this intersection of humans and technology.
- This is the time to become a platform. Revenue growth is coming from integrating workflow tools and other value-added services, leveraging and repackaging new combinations of content and analytic assets, and exploring new business models. IHS, Thomson Reuters, Dwell Magazine, and Healthline all exemplify this trend and show that platform can be about coopetition and collaboration, as allowing others to develop solutions for customers on your platform can become a source of competitive advantage.
- The trend away from mass broadcast to 1-to-1 direct marketing will accelerate. Pull, not push, marketing will flip the advertising model upside down. Trusted environments and platforms for programmatic “intent-casting” will allow customers to advertise themselves as interested and willing to buy, not the other way around as it is today.
The global library market place is $24.2 billion! While it may be too soon for substantial hiring increases, these numbers reflect an optimism in the sector that was missing in the past two years.