Digital Inevitability Hits Encyclopedia Britannica

Victim or beneficiary indeed? This morning I saw an interesting piece on the plight of Encyclopedia Britannica and their decision to finally accept the need to focus on digital media as opposed to traditional print publication.

This is a decision that will not have been made lightly, and will disgruntle much of its core audience. After all, a 32 volume staple that has been in print for 244 years is going to have a considerable loyalty base and brand backing. But that backing and that audience has dwindled. Their ship has had to set sail as a result of societal shifts in knowledge culture, mobility, technology platform reach, and at a very fundamental level, as a result of our time.

The digital age is not new, and almost all types of content are destined to fail if they do not embrace the digital media of today. That is a given. But reader engagement and behavior seem to be far more important "laws of attraction" for online readership than pin point accuracy and professional opinion. That is a bad thing. However, content is now so readily available, and in most cases freely attainable. That is a good thing. The happy medium is in our ability to market content based on trusted personal insight and deeply respected, vertical-specific knowledge.

As an unavoidable trend, all content is shifting to digital platforms. Here the comparison between say an Encyclopedia Britannica and a Wikipedia is an obvious one to make, but comes at a cost. That cost is nostalgia. The historical value of such well-rounded reference material remains. It has stood the test of time and been a cultural icon. As a rich collection, it adds to knowledge wealth and credibility of personal understanding. This should not be underestimated.

Be that as it may, the modern day family, researcher, hobbyist or professional does not have the time, space or desire to flick and search via physical means. Certainly when it comes to finding and filtering information, nothing can do that better than the Internet. The problem is this: It’s a fast food culture. Too many online reference sites – I use the term “reference" loosely – do not have the credibility our research needs demand. The Encyclopedia Britannica gave us that credibility.

However, as they have said themselves, their print volumes go out of date as soon as they are published. That is an eye opening admission, and in many cases very true. The pace of society, the thirst for relevant, up-to-date information means print publications that deal in on-demand content have a very short shelf life. They have little to no margin in printed material coverage. The audience they seek and the demands on real-time relevancy dictate that they cannot survive without a quality content focus that is brought to readers via digital means and through simple, clean, effective platforms that will make them engage.

It is sad to see such a font of all knowledge make this decision, but it is the right one for so many reasons. How they monetize in this brave new world is another question entirely. After all, information is now so freely accessible, very few will pay for the digital permissions. That is not the audience that took pride in such a voluminous collection. The Encyclopedia Britannica is a cherished “possession” and that sense of feeling and personal touch is lost in a digital format. Understanding this and embracing the techniques to capture today's digital aficionado through online content marketing is the key. That is where skilled digital publishers are worth their weight in gold.

It is a very interesting time for traditional print publications. When Encyclopedia Britannica makes such a profound, far reaching and ultimately rational decision to embrace the digital age, it’s obvious everyone should… But let's do so based on understanding our audience and what we aim to achieve through digital means.

As Jorge Cauz, president of Encyclopedia Britannica says, “We’ve traded print dollars for digital pennies.” That unfortunately is a sign of the times and traditional institutions have to evolve to their customers' needs in a digital world that will see them bypassed and ultimately go out of business quicker than they realize if they stand still.