There is no longer room for error in product packaging and pricing. Flat budgets for information subscriptions are colliding with rising prices — around 3.5%, up from 2.9%. This dynamic is creating heightened pressure for information managers and information providers, alike. The Outsell Benchmarks and Best Practices: 2018 Information Pricing Study delivers support for information providers grappling with tough choices. By helping benchmark pricing practices and by understanding information management budget trends, information providers can avoid pricing and negotiation pitfalls and chart a course toward effective product and customer management for the coming year.
This report provides perspectives from information providers on pricing dynamics and IM budgets as well as key IM strategies and best practices around evaluating and negotiating for content.
For guidance on pricing changes for paid content, a high-level benchmark for library budgets in 2018, and essential actions, download this report.
Outsell used three methods to develop the 2018 Information Pricing Study.
- We gathered quantitative and qualitative feedback from approximately 25 information providers and other information services companies to get a sense of their plans for price changes for 2018. We requested input on three key themes:
- Perceptions of buyer budget trends
- Price increase expectations for 2018 for products aimed at enterprise and academic buyers
- Significant buying or licensing trends in the market
Outsell conducted research across vendors of company information, credit and financial information, legal, e-books, education, general information and business aggregation, news aggregation, media and marketing, and subscription services, as well as scientific, technical, and medical information.
2. We interviewed approximately 30 information managers across enterprise, academic, and government information management in North America and Europe on trends in pricing, budgets, and contract negotiation. We selected interview respondents from the corporate sector across a diverse range of segments. The most represented industries are pharmaceuticals/biotechnology and professional services (including financial, insurance, and B2B services), followed by personal care products, food and beverage, and the automotive and space industries. Overall, this picture represents a fairly typical mix of the industries that tend to house IM functions today and which invest most heavily in content services.
3. We combined this research with Outsell’s own insights from many years covering this space and our knowledge of information buyers and providers.
Why This Topic
Content Budget Trends
The Vendor Perspective
Vendors Perceive a Flat Budget Environment
Vendors are Employing Higher Price Increases, Often in Tandem with Added Content or Services
Vendor Perspectives on the Overall Buying Climate
Key Information Management Strategies
Evaluating Content for Renewal
Negotiating a Better Contract
Cost Management Strategies
Perceptions of Vendors
Essential Actions for Information Managers
Table 1. Vendor Perception of Buyer Budget Changes
Table 2. Vendor Price Changes — Directional Guidance
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