Turning Challenges into Opportunities through Complete Digitalization

The New Way Forward for Corporate Communications

corpcom.amnet.com

2

Executive Summary

Rapidly advancing technologies, digitalization of content, and democratization of marketing through social media have brought about a paradigm shift in the B2B publishing industry. Publishers in this sector are increasingly adopting new technologies and implementing smart content and business solutions to meet evolving market demands and stay competitive. They are striving hard to adapt to changes quickly and provide anytime, anywhere access to informative and relevant content.

Executive Summary 2

Digitalization of publishing has already ushered in a new age in B2B publishing. Players are increasingly pushing the boundaries, creating digital strategies, and trying to tap into new revenue models through print and digital content. The B2B publishing industry was already in the process of reimagining its role to seize overwhelming digital opportunities at the start of 2020 when the world found itself thrust into a global pandemic. As the coronavirus pandemic created unprecedented challenges, businesses went into overdrive to reposition themselves to sustain their performance. Even though B2B publishers face profound challenges, this downturn has only catapulted their need to go completely digital to survive the crisis and build future-ready capabilities.

corpcom.amnet.com

corpcom.amnet.com

3

Contents

The Layout: An Overview of the B2B Publishing Industry ..............................................................4

Key Turning Points: The Evolution of Corporate Publishing ...........................................................5

The 2008 Financial Crisis: B2B Publishers Find Themselves in Uncharted Waters .....................6

2020 COVID-19 Pandemic: The World Lands in Hot Water .........................................................8

Customer Intimacy: A Strategic Imperative for B2B Publishing’s New Normal.............................11

A Collaborative Approach: The New Wave of Profitable Partnerships ........................................ 12

Future-Readiness:The Right Mix of Strategy and Digital Capabilities Is Key to Sustainable Competitiveness ......... 16

Contents

corpcom.amnet.com

4

The Layout: An Overview of the B2B Publishing Industry

Corporate publishing, or B2B publishing, is a traditional marketing discipline that entails planning, creating, and publishing business content. B2B print publications comprise an extensive range of collaterals intended for both internal and external stakeholders. These typically include press releases, white papers, weekly/monthly trade magazines, directories, journals, stylebooks, training manuals, newsletters, and others, published and distributed in both print and digital media. Corporate communication is not undertaken by traditional publishing houses; it is an entirely different domain. Corporate communication is an incredible combination of marketing and journalism/communication, in that B2B publishers create compelling brand marketing strategies and deliver it using journalistic communication.

As effective marketing communication (marcomm), B2B publishing requires companies to understand a multitude of factors that go into creating successful strategies and high-quality collaterals. And even though it differs from conventional publishing, there are several common challenges that B2B publishers also face and need to address in order to stay relevant and informative. The marcomm production and operation services landscape has undergone tremendous changes over the decades and is continuing to evolve in the face of digital transition and rapidly shifting market trends.

In today’s environment, immediacy and relevancy are key for any kind of communication to be successful. And as the rules of engagement continue to evolve and disruptive business models continue to emerge, B2B publishers are striving hard to modernize their communication techniques. With digital democratization of access to information, successful B2B publishers are increasingly adopting collaborative approaches to take advantage of smart content and business solutions to stay ahead of the curve.

corpcom.amnet.com

5

Key Turning Points: The Evolution of Corporate Communications

Traditionally, corporate communication was focused on marketing rather than informing, with a unidirectional content and advertising strategy designed to maximize customer acquisition. This approach is what characterized the B2B marketing landscape for decades. And while the Corporate communication landscape did witness continuous changes over the years, it all came to a head in the wake of the 2008 financial downturn. Every recession poses difficulties for B2B marketers, but this collapse had a drastically adverse impact on purchasing power and the business landscape, in general. Sales plummeted, and markets went into complete turmoil. Every bump along the value chain had a domino effect with lasting consequences that created unprecedented challenges for marketers, not just during the recession but also in the recovery that followed.

Key Turning Points: The Evolution of Corporate Communications 5

corpcom.amnet.com

corpcom.amnet.com

6

The 2008 Financial Crisis: B2B Publishers Find Themselves in Uncharted Waters

As companies and clients started to exert tighter control over expenses, advertising across television and magazines and newspapers plummeted, and marketing became the first sector to suffer major cost cutbacks. Companies now had to find newer and more cost-effective ways to connect with their audiences and markets. This is where perhaps marketers began to recognize the need to understand the behavior and motivation of their customers in order to create targeted marketing communication strategies, thus optimizing cost, effort, and ROI. This triggered the shift in approach from advertising to informing, placing customer-centricity at the heart of B2B publishing campaigns.

Besides the changing market landscape and customer behavior, B2B publishing also came under tremendous pressure due to dwindling print revenues. This decline, however, was not an aftermath of the crisis, but rather, a fallout of the democratization of content marketing and publication, fueled by the rise of digital and social media. And as the use and popularity of digital and social media continued to grow exponentially, it also very quickly became a blessing in disguise for B2B publishers, allowing them to reach out to a wider audience, tap into newer revenue streams, and offset declining print revenues to an extent.

corpcom.amnet.com

7Key Turning Points: The Evolution of Corporate Publishing

With the internet and digital media becoming a mainstay, digital marketing replaced traditional marketing, and print publications gave way to digital content distribution. And to meet the growing customer demand for information anytime, anywhere, B2B publishers started to create a plethora of online content to connect with and engage their audience. But digital communication also opened floodgates, overwhelmingly crowding the B2B publishing marketplace. As companies wrestled against each other to gain market share and overcome competition from new entrants’ ever-disrupting business models, B2B publishers continued to scale their content production. However, the collaterals that were intended to strengthen market position, on the contrary, rendered it increasingly difficult to capture and retain customers because of media fragmentation and isolated digital content strategies. The need to cut out noise and stand out in the crowd paved the way for integrated corporate publishing campaigns, which helped B2B publishers create a consistent brand message and image.

While print advertising still remains a part of B2B publishing, it has transitioned largely to digital publication. This shift not only helped B2B publishers to overcome the crisis but dramatically changed the B2B publishing landscape. It enabled publishers to gain customer insights and actionable data related to viewership, buying intentions, and budgets. Such proximity to readers is what defines B2B publishing today; it helps marketers create custom content and publications to be delivered on a preferred channel of interest to their audiences.

corpcom.amnet.com

8

2020 COVID-19 Pandemic: The World Lands in Hot Water

Now, cutting to 2020, the world has found itself in the midst of a pandemic threatening every aspect of human life. As COVID-19 continues to make a dent in the world’s economy, B2B publishers are finding themselves in yet another soup. The growing uncertainty is compelling them to reevaluate and make viable decisions, especially surrounding the creation and distribution of print publications.

This pandemic has already taken a huge toll on the B2B publishing industry’s revenue streams. With offices shutting down and looming logistical issues, B2B publishers have been forced to shut down the printing of trade magazines for now, which still is a major source of revenue. Already, due to rising digital content consumption, B2B print media has seen a decline in the number of advertisers by 13 percent; this was at the start of 2020 (pre-COVID-19). By July, however, in the midst of the pandemic, the number of advertisers had further declined by 42 percent.1 The impact is not limited to print revenues. According to a survey of B2B media professionals, 70 percent indicated that they had to cancel live events, while approximately 25 percent said they were planning to cancel live events for the next six months.2 Other critical challenges include budget cuts and the loss of accounts as a result of the economic fallout.

Key Turning Points: The Evolution of Corporate Publishing

# of Advertisers in B2B pRint Media

JulyJan

5,000

10,000

15,000

20,000

25,000

1* How COVID-19 Is Impacting B2B Print Publications,” MediaRadar, accessed October 21, 2020, https://mediaradar.com/blog/how-covid19-impacts-b2b-print/.2* Marjorie Romeyn-Sanabria, “New Research: 70% of B2B Marketers Project Minimal Shift in Budget amid COVID-19,” Demand Gen Report, accessed October 21, 2020, https://www.demandgenreport.com/features/news-briefs/new-research-70-of-b2b-marketers-project-minimal-shift-in-budget-amid-covid-19.

corpcom.amnet.com

9

Despite these hurdles, B2B publishers are striving hard to find a smart way to retain and expand their client base. No matter the situation, businesses cannot afford to vanish into the night. Maintaining visibility within the market is absolutely indispensable for any company to stay in business and ensure long-term profitability. Moreover, as the pandemic continues to rip through existing business models, demanding a newer and safer way to conduct business and ensure delivery, organizations are compelled to reposition their brand. As a result, there is a renewed and increased focus on branding and publishing activities. Plus, as businesses are transitioning to a virtual world, conducting

meetings, exhibitions, and even events online, the demand for digital publication is escalating, and this trend is likely to only accelerate in the near future.

This is why the B2B publishing industry should brace itself and prepare to go completely digital to build agility and future-ready capabilities. In fact, many savvy B2B publishers are already switching gears and ramping up low-cost and high-impact digital publishing. They are increasingly adopting more flexible approaches in their roles and services delivery to not only meet their client’s evolving expectations but also to stay ahead of the game.

Key Turning Points: The Evolution of Corporate Publishing

corpcom.amnet.com

10

The Impact of COVID-19 in a Nutshell

Key Turning Points: The Evolution of Corporate Publishing

Trade Magazines Customer Behavior

Events and Exhibitions Business Information

Withdrawal of trade magazine subscriptions and their declining revenues need to be offset by transitioning to e-magazines

Lasting change in customer behavior post COVID-19 results in overwhelming demand for digital content anytime and anywhere

Exhibitions and events will continue to be conducted virtually, further increasing the demand for digital content support

Reduced spending will compel businesses to subscribe only to informative, insightful, and relevant business information

corpcom.amnet.com

11

Customer Intimacy: A Strategic Imperative for B2B Publishing’s New Normal

Although a complete digital transition is necessary to survive this crisis, this drastic shift was always imminent; it has only accelerated in the wake of this pandemic. As far as technological development is concerned, the world has seen monumental leaps in the span of a few decades. New smart devices and digital media platforms are being introduced at a whirlwind pace. And as millennials and digital natives continue to use and get comfortable with the seemingly all-pervasive smart technologies of today, the demand for digital business information anytime, anywhere is going to skyrocket.

This shift in tide presents enormous opportunities for B2B publishers to get closer to their clients through digital content that is rich, contextual, and of a wide range. Many B2B publishers are already taking the leap to completely digitalize their content to help clients cope with the impact of the crisis and meet changing customer behavior. Savvy and forward-thinking publications are already transitioning to e-magazines, e-books, interactive content, videos, e-brochures, white papers, special reports, press releases, case studies, and more. With B2B publishers looking for new ways to service their clients, multiplatform digital content can not only help retain subscribers but also gain new ones and offer highly targeted business information across e-subscriptions.

With every kind of information being consumed on the web, corporate publishers have an incredible opportunity to offer a wide range of curated reading experiences. Albeit, to maximize online subscription, it is critical for B2B publishers to gain in-depth audience knowledge to offer contextualized materials that deliver value to their target market. As it is often said that every cloud has a silver lining, this crisis can help B2B publishers build new skills and expand upon them to exploit digital channels to their advantage and realize the potential of the ever-growing popularity of smart devices. A sound digital communication strategy and its timely execution can not only help expand reach and deepen customer connection but also generate new revenues.

A case in point is the way the education sector is continuing to embrace digital publishing to rise to this challenge3. As the pandemic has forced universities, colleges, and educational institutions to shift to virtual classrooms, edtechs and academic publishers are now trying to harness various digital tools and platforms to create, publish, and distribute a portfolio of curricula and other learning materials. This quick transition to digital publication is helping educators provide high-quality learning experiences as they continue to weather the impact of the pandemic.

Customer Intimacy: A Strategic Imperative for B2B Publishing’s New Normal 11

3* How B2B Edtech Startups Are Reacting to COVID-19?” Higher Education Digest, accessed October 21, 2020, https://www.highereducationdigest.com/how-b2b-edtech-startups-are-reacting-to-covid-19/.

corpcom.amnet.com

12A Collaborative Approach: The New Wave of Profitable Partnerships

A Collaborative Approach: The New Wave of Profitable Partnerships

There is no doubt that as digitalization continues to reshape the future, B2B publishers are finding themselves in a great position to break location barriers and tap into a global market. Digital publication provides opportunities like never before to better engage and communicate with businesses on a more intimate level. That said, rapid and ongoing structural changes, shrinking marketing budgets, and the demand for measurable results pose several challenges for

corporate publishers. The difficulty is further compounded, as resources are stretched thin in the wake of the pandemic. Consequently, planning and managing multiplatform content portfolios, streamlining content production and delivery, and accelerating go-to-market strategies present a complex and unique set of difficulties. These challenges underscore the importance of collaborative partnerships that promise richer benefits for all stakeholders within the value chain.

corpcom.amnet.com

13

Amnet has been recognized as one such publishing partner due to its demonstrated top-of-the-line publishing services with editorial support. Our comprehensive suite of creative content production services helps B2B publishers, agencies, and corporate customers create compelling, bespoke, and informative digital contents.

Amnet understands the power of identity in an excessively crowded and competitive marketplace and is committed to delivering your brand values to the target customers. It is this focus, combined with unwavering client-centricity, and the continuous development of our skills, capabilities, and resources that have helped us emerge as reliable business partners instead of being mere content providers.

Amnet has been successfully helping its clients produce and publish digital content that is rich, contextual, and of a wide range, thus helping them retain existing revenue streams and even tap into new ones. Over the span of just two decades, we have gained significant industry experience and domain expertise, working with several global B2B publishers of various sizes and capacities.

A Collaborative Approach: The New Wave of Profitable Partnerships

corpcom.amnet.com

14

Amnet’s Corporate Publishing Services Portfolio

Magazines/Coffee-Table Books

• Design beautiful corporate magazines aligned with company’s image, corporate mission, and values• Digitally convert trade magazines that are virtual replicas of physical copies

Employee Manuals and Handbooks

• Create inspiring employee handbooks and informative manuals • Articulate and present company’s culture to nurture and build employee trust

Conference Materials

• Organize and package conference proceedings of any size• Present innovative ideas, network partnership, and thought leadership through inspirational designs to maximize readers’ experience

E-books

• Convert any collateral and deliver in digital formats such as JSON (Apple News Format) and optimized EPUB3• Use state-of-the-art technology for analog-to-digital conversion and creation of feature-rich content that is easy to access and read

Newsletters

• Create newsletters that engage the audience and generate interest and leads• Power digital marketing campaign performance with informative and unique newsletter content

Marketing/Branding

• Create well-articulated and compelling marketing collaterals that resonate with the target audience• Develop extensive range of materials including brochures, logos, presentations, flyers, branded office stationery, and more

Advertising

• Design visually stunning ads to better connect with audience• Create ads in wide range of formats: HTML, print, web banners, and billboards

Financial Reports/Technical Contents

• From designing to storytelling, we create impactful annual reports• Present important financial information using data visualization that is visually pleasing, effective, and easy to understand

A Collaborative Approach: The New Wave of Profitable Partnerships

corpcom.amnet.com

15

As your publishing partner, Amnet works as an extension, helping you design and develop compelling and engaging publications that fit business and brand-specific requirements. Whether it’s designing, copyediting, enrichment, composition, and/or accessibility and project management, we are equipped for and adept at supporting corporate publishers at every step of the way and throughout the publishing life cycle. Drawing on our extensive publishing experience and long-standing relationship with Fortune 50 companies, we have developed agile capabilities that enable us to deliver cost-efficient, scalable, reliable, and customized content and design services. Over the years, Amnet has strengthened its position as a trusted publishing partner. We believe that our success depends heavily on our client’s growth, and therefore, we are committed to helping B2B publishers navigate through the crisis and into the future with certainty.

20 years of B2B publishing experience

Recognized as a global iBooks conversion and delivery house

approved by Apple and an Amazon-recognized EPUB

conversion and delivery house

Proficient in 13 languages

A Collaborative Approach: The New Wave of Profitable Partnerships

corpcom.amnet.com

16

Future-Readiness: The Right Mix of Strategy and Digital Capabilities Is Key to Sustainable Competitiveness

Every health crisis has had an impact on consumer behavior and business operation. While this pandemic has caused unprecedented disruption, the transition to digitalization is not surprising. This is a great opportunity for B2B publishers to develop new, unique, and engaging digital publication strategies to offset the damage done by this crisis and ensure continued support to their client base.

B2B publishers need to take a closer look at some of the newer digital publication trends across the industry in order to identify opportunities and reimagine and refine their go-to-market strategies. It is well

acknowledged that there is a lot of uncertainty about how the economic future will unfold. As we work toward and await recovery, it is likely to vary vastly in terms of region, pace, and industry sector. Having said that, the players who respond quickly to the unprecedented market demands, build momentum through small but continuous and effective transformation, and ensure sustained performance will emerge winners. And to be able to do that, in the face of the monumental challenges as a result of this pandemic, a strategic partnership with an experienced publishing service provider can help publishers weather the storm and swiftly adapt digitally and reshape the new corporate publishing reality.

Key Turning Points: The Evolution of Corporate Publishing 16

corpcom.amnet.com

17

Contact Us

ABOUT AMNET

Amnet, a large multinational with two decades of experience, provides a comprehensive suite of services to agencies and corporates that need reliable and scalable creative content production services. Amnet’s relationship-centered, customer-obsessed approach provides clients with the certainty that their expectations will be met or exceeded every time. Amnet is trusted by customers of all sizes, including Fortune 50 companies, large multinationals, and corporates who are leaders in their respective markets. We are committed to providing a competitive edge in your corporate communications and brand value to your target audience.

Our mission is to be the champions of Smartshoring® by delivering certainty, creating impeccable value, and delivering WOWs for our customers.

corpcom.amnet.comhello@amnet-systems.com

amnet-systems amnetsys