Digital Publishing Innovation and David McKnight
A New Kind of Analytics Tool for Publishers
With the exception of Associations, who have been early adaptors of Social Media. Publishers have been slower to respond. However, I sense that is changing. Publishers are racing to build community and to engage the social web. So much so that I think going into 2013 we will see publishers tap into the social web to “create value” which few industries have yet.
One example of this is CoverCake. Quietly being developed in Silicon Valley by a team of Big Data experts. Covercake is a new kind of Analytics software specifically designed for Publishers. Last week CoverCake also announced they are working with Ingram Content Group and integrating into Ingram’s huge database on publications.
Covercake is a “Social Media Influencing Platform”. Their main product is Trending. “CoverCake Trending is a social media monitoring and analytics solution that fits like a glove over the hand of publishers. Average social analytics companies spread their strengths thinly over every industry possible. CoverCake has taken a completely different approach by focusing solely on the book business vertical. This kind of exclusivity allows publishers to get access to data that positively affects their ROI in ways most can only dream of.” (from http://www.covercake.com)
Covercake is unique in the Analytics solution in that instead of just tracking the results at one website or a group of websites, it scans the Internet and social media sites for all conversations about a book. A huge amount of information is distilled into meaningful information about a title.
I find Covercake to be user friendly, powerful and well designed “visual” reporting (image above is small example of their extensive visual charts). I see publishers using it to help measure and gauge the influence of their titles across multiple social sites. Or watch their competitor’s titles. What’s being said and by who. By knowing who is talking they can engage people they may not have otherwise known. From marketing to research to driving growth of titles… Covercake offers publishers new ways to tap into the power of social media.
I spoke with Todd Gibson, Director of Product and he had this to add: “Typical analytics companies have to go where the most money is (large companies across multiple industries) in order to make the most money so because of their structure they actually can’t afford to specialize, and they can’t afford to adjust to serving smaller entities
We’ve focused on the book industry, but we come from Silicon Valley have gone through a lengthy process of understanding the book business and what’s most important to them – point being, now that we’ve really gotten our hands dirty, the platform will be getting even better as we fine-tune and add functionality. You’ll see more and more stuff coming into the platform in the coming months.”
Watch for more partnership announcements for CoverCake in the Publishing world and beyond leveraging the technology in new ways.
Image Credit: CoverCake Image from website http://www.covercake.com