Why Buying Beats Building: The Case for Established eBook & Audiobook Apps
Audio
Jul 27, 2024
In the competitive world of digital publishing, offering readers a seamless and engaging experience is crucial. Publishers often face a critical decision when it comes to delivering eBooks and audiobooks: should they build their own app platform or purchase an established one? While building a custom solution might seem appealing, buying an established eBook and audiobook app platform usually proves to be the wiser choice. Here’s why.
Total Lower Cost
Building an eBook and audiobook app from scratch can be a costly endeavour. Development costs encompass salaries for a team of developers, designers, project managers, and testers, along with expenses for hardware, software licenses, and development tools.
Benefits of Buying:
Economies of Scale: Established platforms benefit from economies of scale, spreading development costs across many users, resulting in a lower price for each customer.
Reduced Upfront Investment: Purchasing an app platform usually involves a subscription fee or one-time purchase cost, significantly lower than the cumulative costs of building a platform from the ground up.
Example:
A publisher might spend $500,000 over two years developing a custom platform, whereas an established platform might cost $50,000 per year. Over two years, the publisher saves $400,000 by choosing an established solution.
Known Cost
When you buy an established eBook and audiobook app platform, you have a clear understanding of the costs involved. This includes the initial purchase price, ongoing subscription fees, and any additional costs for support or upgrades. Building software, on the other hand, can come with unforeseen expenses that can exceed your budget.
Benefits of Buying:
Budget Certainty: Known costs make it easier to plan and manage your budget effectively.
Financial Predictability: Predictable expenses help in financial forecasting and risk management, ensuring no unpleasant financial surprises.
Example:
Building a platform might start with an estimated budget of $300,000, but unforeseen complications could push the cost to $500,000. Buying an established platform at a known cost of $50,000 per year avoids these unexpected increases, providing financial stability.
Speed to Market
Developing a new eBook and audiobook app can be a lengthy process. From initial planning and design to development and testing, it can take months or even years to bring a custom-built solution to market. This delay can lead to significant opportunity costs.
Benefits of Buying:
Immediate Deployment: Established platforms can often be deployed immediately, allowing your company to start reaping the benefits right away.
Faster ROI: The quicker you can implement and start using the platform, the faster you can see a return on your investment, enhancing your competitive edge.
Example of Lost Opportunities:
Consider a publisher who opts to build their own platform, which takes two years to complete. During this period, the publisher misses out on two years of potential revenue from digital sales, customer engagement, and valuable market insights. For example:
Revenue Loss: If the publisher could have generated $100,000 annually from digital sales via an established platform, the two-year delay results in a $200,000 revenue loss.
Data and Insight Loss: During those two years, the publisher would miss out on collecting user data and insights that could inform future strategies. This data is crucial for understanding reader preferences, optimizing marketing efforts, and improving content offerings.
Market Positioning: By delaying the launch, the publisher risks falling behind competitors who are already leveraging advanced digital platforms to capture market share and engage with readers.
Capacity & Resources
Building an eBook and audiobook app requires significant capacity and resources, including a skilled development team, adequate infrastructure, and effective project management.
Benefits of Buying:
Resource Allocation: Purchasing a platform frees up your internal resources to focus on core business activities rather than software development.
Expertise: Established platforms are often developed by experts in the field, ensuring a high-quality product with features that are refined and reliable.
Example:
A publisher’s internal team might consist of skilled editors and marketers but lack the technical expertise to build and maintain a robust app. By buying an established platform, the publisher can leverage external expertise and ensure the app is built to the highest standards.
Customisability & Control
A common argument for building your own app is the ability to tailor it precisely to your needs. However, many modern eBook and audiobook platforms offer extensive customisation options.
Benefits of Buying:
Flexibility: Purchased platforms often come with customisable features and integrations that can be tailored to meet specific business needs.
Upgradability: Regular updates and enhancements from the vendor ensure that the platform evolves with your needs, keeping you up-to-date with the latest technological advancements.
Example:
An established platform might offer a range of customisable themes, integration with various content management systems, and analytics tools. This flexibility allows publishers to tailor the app to their branding and functional needs without the burden of ongoing development.
Maintenance & Support
Maintaining and supporting a custom-built app requires ongoing effort and resources. This includes fixing bugs, updating the software, and providing user support.
Benefits of Buying:
Vendor Support: Established platforms usually include comprehensive support and maintenance services, reducing the burden on your internal team.
Reliability: Regular updates and patches from the vendor help keep the platform secure and functioning optimally, ensuring a smooth experience for your users.
Example:
A publisher might need to hire additional IT staff to maintain a custom-built app, costing $100,000 annually. In contrast, an established platform includes maintenance and support in the subscription fee, reducing the need for extra hires and associated costs.
For publishers looking to deliver top-notch eBook and audiobook experiences, buying an established app platform is often the superior choice. Lower and predictable costs, faster time to market, efficient use of resources, and robust maintenance and support make purchasing an existing platform a compelling option. By opting for a proven solution, publishers can focus on their core competencies, leverage advanced features, and stay competitive in the rapidly evolving digital landscape. Embrace the future of digital publishing with a ready-made, reliable, and feature-rich eBook and audiobook app platform.
