Tuesday, 3rd September 2013
The first phase of data collection on our annual survey on News Needs & Preferences already highlights the impact felt by information managers by the changes in Dow Jones' product strategy. Initial data suggests that information managers in organisations where Factiva is currently a preferred product are more likely to be looking at alternatives for the future. However, analysis of all responses to date indicate that the difference may be one of degree rather than of substance: More than 50% of respondents are at least somewhat likely to be looking at alternative products.
We launched the 6th annual FreePint Survey: News Needs and Preferences earlier in August, and initial results demonstrate the degree to which changes to Factiva are making waves for information managers.
As in past years, we ask respondents to indicate which premium news provider is their preferred provider, then go on to ask a number of questions about their satisfaction with that provider, duration of use, and what they wish the provider would change.
In response to industry discussion regarding to Dow Jones' change in product strategy, in which Factiva will be subsumed into the more comprehensive DJX product, we added a question this year to this section:
How likely are you to consider alternatives to replace this as your primary product?
At the time of writing, we have 80 responses; slightly more than one-third of those report that Factiva is their current primary and preferred product. The figure shows the differences how those respondents answered this question, compared with the full dataset of all 80 responses.
Two-thirds of those for whom Factiva is the preferred product are likely to consider alternatives, and 40% of them are "very likely" and actively seeking those alternatives.
This contrasts sharply with the full dataset, in which just over half are likely to consider alternatives.
This snapshot has been taken relatively early in the data collection process, and it will be interesting to see if the trend holds as more information managers complete the survey over the coming weeks.
Overall Movement of Contracts?
Also interesting is to note how high a percentage of respondents are considering alternative news providers, regardless of their preferred provider. Contracts for news content can run into the tens of thousands even for a relatively small organisation, depending on the scope of content, usage and distribution; if half of those contracts are truly under close examination to be moved elsewhere, that represents a significant movement of funds.
Other questions in the survey are designed to clarify why such a movement might be coming: We ask about the importance of non-traditional sources; the value information managers feel they get from their premium products; pressure on their budgets to move to less costly news products; and related needs like integration of content into an intranet and mobile capabilities.
As in prior years, our analysis of the aggregated responses on these pictures will paint a picture of where and how information managers are satisfied -- or not -- with their current resources.
If you haven't yet done so, please complete the FreePint Survey: News Needs and Preferences 2013 now. Your responses are fully anonymous, and if you provide an email address at the end of the survey, you will receive a free copy of the resulting report.
FreePint Topic Series: Beyond Aggregation
This year's FreePint Report: Survey on News Needs & Preferences 2013 will be published as part of the FreePint Topic Series: Beyond Aggregation, which is running from October–November 2013. Register your interest for notification of content and resources published as part of the series.
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