Publishing Models for Internet Commerce
The “information transaction” between advertiser and reader can culminate in a financial transaction [online], in which the reader actually orders (and perhaps receives) the product being shown.
The “information transaction” between advertiser and reader can culminate in a financial transaction [online], in which the reader actually orders (and perhaps receives) the product being shown.
Continued development of ever-more-powerful hardware and software, allowing easier and faster access to vast resources of information and entertainment, will within 15 years make the Internet nearly as ubiquitous and pervasive as the telephone is today.
Because of the limited information available via most other advertising methods, detailed product information must be provided “out of band” in a separate information transaction. Online, this information can be delivered immediately, at little or no incremental cost.
There is clear feedback to the advertiser about what “works” and what doesn’t [on the Internet], in the form of access logs. This feature tends to drive advertisers toward providing valuable content rather than hype.
Because the reader is free to turn away at any point, there is a clear incentive to the advertiser to provide information that the reader really wants.
If libraries do not charge for electronic books, not only can they not reap rewards commensurate with their own increasing importance, but libraries can also put publishers out of business with free competition. If libraries do charge, that will disenfranchise people from information – a horrible thing. There is no obvious compromise … Compromise is badly needed – the technology is on the verge of transforming the great libraries’ vision of paradise into a global reality.
Libraries will be a powerful force in the emerging world of electronic information … What happens to the publishing industry when publishers can reduce their risks by not printing any copies of all but the most popular journals on paper – but instead can wait for interested readers to print their own copies of the articles they want from (taxpayer-subsidized) library databases?
The commercial consequences of electronic libraries could be huge – and publishers’ trade associations are already closely watching libraries with a suspicious eye. More simply, the libraries do not want to be stuck with loss-making electronic services that taxpayers are reluctant to support.
The Bibliotheque de France will install 200 research workstations in the library’s public areas when it opens in 1995. The workstations will provide a network link to the card catalogs, note-taking and bibliography software, and, most ambitious, a sort of electronic notebook customized for work in electronic libraries … the plan is to allow a researcher to scan pages of text directly into a personal database instead of photocopying them for hard files. Scanned text can then be annotated, indexed, and searched by a variety of means.
When trying to make my mark on the Web, I’d opt for a site with a narrow focus and an audience that can grow over time, rather than going for a big splash. Even from a pure marketing point of view, a smaller number of more targeted readers may be worth more than a larger, more random group.