How to increase digital reader revenue
As more and more media houses keep their front dynamic on the digital space, it gets evident that they need to have readers is crucial. With more users prioritizing quality content over free content, the relevance of ads has gone down. Thereby narrowing focus on reader revenue.
Bigger media houses like the new york times proudly have half their total revenue from their reader subscriptions. While the road to running completely on reader revenue might be a few years away, the possibility isn’t thin.
Why reader revenue?
Publishers today have access to a reader base like never before. Having it go to waste, not the best idea.
With reader subscriptions, publishers would have access to the knowledge of what the readers find relevant. This can help deliver content better than ever.
Reader subscriptions also provide a more stable source of income for publishers. Rather than having to depend on ad revenues, this helps maintain an unbiased flow of content as well.
Tricks you should consider :
Create subscription plans properly
Publishers need to create paywall strategies with intentions. There are diverse forms of content available, for readers to subscribe, they must have just the right idea of what you offer but also plans that are easy to follow.
Get your traffic going
Why would readers subscribe to you? Allow the free content consumers to see what they’re missing out on.
Premium stories, exclusive interviews? Have it your way and set up metered paywalls.
Offers? Why not
Be it black Friday sales or seasonal offers, readers are always looking for an offer here and there.
Use a discount or sale to drive in more readers under subscription so you can have better reach. It also helps you analyze if your current subscription plans are not appreciated by a demographic.
What content drives in subscriptions?
Is there a news story that gets the audience hooked? Find the type of content that drives in more subscriptions and expands more of the same. This helps you keep the subscriber base happy while also understanding patterns in the reader space.
More than a membership?
Offer members benefit other than the content. Perhaps a discount on partner services, even member-exclusive meet-ups, adds up.
If there is a sense of community, chances are the word of mouth will work more efficiently.
Make the Switch
Going from a free platform to a concrete paywall might not be the best approach. Allow your users to understand the nature of subscriptions by slowly putting your content, or parts of it behind a subscription paywall.
