B2B Business information companies are wondering whether to take an encroachment of B2B Media companies seriously. Firstly, there is the issue of how big is the current pie in ‘rich data’ sales? If one looks at the chart below ‘rich data’ as new revenue sources is still miniscule. Based on a recent survey of Folio: and Readex Research, publishers seem to drag their feet when it comes to online services: 42% received no revenue from online services, 53% received no revenue from ‘rich data’. Roughly half of the respondents have not diversified or have not monetized ‘rich data’.
Secondly, what textual data do b2b publishers possess that can be easily be converted into data to be appended to other data elements or numeric databases currently in use in business information services? There is already ample competition in business intelligence services, and more competition may result in commoditization of ‘rich data’, rather than being high-value, high margin. Therefore monetizing fee-based business intelligence may be easier said than done.
Business information companies however should view this development as an opportunity rather than a threat. They should seek out partnerships with b2b publishers that have intelligence that can be added to business information products, thus creating high-value industry or product specific information services.