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Digital Subscriptions Strategies for Sustainable Revenue Growth

Learn the best practices for digital subscriptions from industry expert Tim Thomas, focusing on cutting expenses, changing print strategies, increasing digital ads, and launching subscriptions. Discover key tactics, case studies, and approaches to drive engagement and revenue. Implement successful metered approaches, pricing strategies, and promotions to convert users effectively. Enhance distribution, pricing, promotion, and content for a thriving digital subscription model.

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Digital Subscriptions Strategies for Sustainable Revenue Growth

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  1. Digital SubscriptionsBest Practices Tim Thomas SVP, Business Development

  2. Industry Challenge NAA says print ad revenue declined by almost 50% in past 4 years

  3. Industry Response • Cut expenses Fewer pages RIFs No promotion Centralize

  4. Industry Response • Cut expenses • Change printing and delivery Outsource Get out of the mail Print others Deliver others

  5. Industry Response • Cut expenses • Change printing and delivery • Raise print prices Single copy Home delivery

  6. Industry Response • Cut expenses • Change printing and delivery • Raise print prices • More digital ads and services Ad mail Tablet Mobile Impressions Directory Video pre-roll

  7. Industry Response • Cut expenses • Change printing and delivery • Raise print prices • More digital ads and services • Launch digital subscriptions Meter Hardwall Press+ Registration Intercept Conversion

  8. What do you have to believe? • We have unique, relevant content . . . • . . . That some people are willing to pay for • We have more page views than advertisers can buy • Digital subscriptions and digital advertising can co-exist

  9. Baltimore’s Best

  10. The Product

  11. Use a metered approach • 8% of users generate 80% of your traffic • 80% of users view 1-5 page views per month • “Drive-bys” aren’t interrupted • Heavy users are the most likely to pay

  12. Don’t be afraid to go low • Launched at 15 page views/30 days • Lowered to 10 page views after 9 months • Going to 5 page views this year • Intercept rate: 1.5% of users see the “Stop” box

  13. Meter most of your content • Exempt home page, section fronts, classifieds, obits • Meter staff stories, photos, video pages, breaking news, wire stories, talk boards • When in doubt, meter it • Let the market decide which content is “premium”

  14. Place (Distribution)

  15. Stop the leakage • Apps • Mobile WAP • RSS feeds • Content alliances • E-edition

  16. Package “All Digital Access” • Desktop site • Apps – iPhone, iPad, Droid phone • HTML5 site • Loyalty site • E-Edition

  17. Pricing

  18. Use trial pricing • Reduces consumer perception of “ commitment risk” • Automatically rolls to regular rate • Gets credit card number • Gets email address • Gets physical address for better “match” to print subs • High retention rate

  19. Charge print subscribers for digital (but at a much lower rate) • Establishes value right away • Digital has more content than print • Digital is real time • Conversion rate is about the same as registration • Keep the charge on the statement reasonable (<$20)

  20. “All” new print starts to include digital • Introductory rate increased through most channels • % increase allocated to digital circulation revenue • Direct mail/FSI allows print-only start

  21. Decide rules and process for comp accounts • Exempt meter within your IP range • Remote access for news, sports, photo • Ad reps • Agencies • Large advertisers • Content partners • Other papers in your corporation • Execs • Bloggers

  22. Set institutional pricing • Libraries, law firms, chambers, government, colleges • User ID/Password vs IP exclusion • Set annual rate per person • Higher per-person discounts for more people

  23. Promotion

  24. Announce ahead of time • Publisher letter to readers • Press release • FAQs • Employees

  25. Anticipate reader issues “If you make me pay, I’ll just go somewhere else for my news.” “Why do I have to pay for a digital subscription? I already pay for the paper.” • Establish FAQs and post on your site • Arm the newsroom and CSRs with FAQs+

  26. Tie promotion to these issues

  27. Tie promotion to unique content

  28. Promote in all channels • Email marketing • Print ads, wraps and front page notes • Contest on loyalty site • TV spots • Kiosk and door-to-door sales • Direct mail and print inserts • EZ-Pay postcards • Subscriber bill inserts

  29. Anchor homepage link to splash page • Up at launch • Makes it easy for people to buy

  30. Pay Attention [The 5th P of Marketing]

  31. Watch your digital inventory to ensure ad commitments are met • Used to having unlimited inventory • Higher targeting should mean higher CPM • Tighten up the discounting • Kill “value added” • Watch charity and house ads

  32. Results

  33. Page Views Down, Users Up -18% +12%

  34. Ad revenue grew While adding a new revenue stream

  35. Almost 30K new subscribers

  36. So, come on in. The water is fine.

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