Subscription revenue is the safe haven for many publishers, and with the growth of online and mobile subscriptions it has grown in complexity. At the Specialist Media Conference in April, expert subs marketers Sarah Aldridge from Dennis, Louise White of Briefing Media and Minal Bopaiah of US based Subscription Site Insider shared their advice on making subscriptions more profitable. Here’s their top 10 tips.
1. Use every opportunity to collect email addresses.
Minal explained that in-house email marketing is still the best way to grow online subs, and using newsletters and downloads to encourage web visitors to provide emails is a smart move. Ask for an email at the start of a sign-up process, so if the visitor abandons the payment, you can still communicate with them.
2. Don’t give digital away
Digital mags are worth paying for – Dennis offers print subs a small digital upgrade fee to add on a tablet edition. And then VAT is chargeable only on this element.
3. Some people want digital only – offer simple options
Readers will pay for the convenience of a digital edition, so offer a digital –only option – eg Consumer Reports in the US or Economist. Keep the options simple and pricing clear.
4. Free trials and samples expand tablet audience
Free trials on digital mags can extend reach, but be prepared for low conversion rates: 10-20% is typical. Dennis have found that a free sampler edition of digital mags has been more effective than short term free trials.
5. In niche markets, focus on ARPU
Farmers Guardian, a niche b2b publisher with limited room to grow volume, is focussed on growing average revenue per user, by bundling additional services with subscriptions to create a membership package.
6. If budgets are tight, use people not systems
Small publishers can’t invest in clever technology. Farmers Guardian are using their classi telesales team to upsell memberships – quick to implement and good customer service for readers.
7. Market through the lifecycle
Renewals are key, but don’t wait till expiry to get in touch. Maintain a multi-channel conversation with subscribers all the way through their lifecycle.
8. Use internal channels to encourage downloads
Unopened digital mags are as much of a problem as subs copies left in polywrap. Dennis use their internal media to encourage digital subscribers to download and open digital editions.
9. A low trial price converts better than free
Offering a low trial price – such as 3 issues for £1 or $1– converts better than a pure free trial, said Minal.
10. Plan for the customer service deluge of digital
Dennis saw a 5-7 fold increase in calls and emails from digital subscribers vs print subscribers, and calls took longer. It’s worth briefing customer service teams thoroughly on any new digital mag and details of entitlement for subscribers.
Still looking for more tips on selling subscriptions? Join us on Tuesday 11 June in London for an intensive 2-hour Issue Brief, with expert speakers on consumer & b2b subs, informal Q&A and networking with other publishers.
Carola York, former subs marketer at Emap, Economist, TSL, Spectator, and now MD of Jellyfish, will share the latest digital marketing tips on acquiring new subscribers, from video ads to social media, PPC to remarketing hot prospects.
Robin Crumby, Chief Marketing Officer and co-Founder of Melcrum, who provide resources & training for internal communicators, will share how they have developed high value corporate memberships, reduced their dependence on email marketing and evolved their sales and marketing cycles.
Join us for coffee and pastries on Tuesday 11 June from 9-11am, at Simmons & Simmons Moorgate office, London, listen to our expert speakers, get answers to your questions in an informal Q&A and network with other innovative publishers like Electric Word, Gambling Compliance, AROQ and Business Monitor International…
Issue Briefs are free for SIIA UK members and cost $95 (about £67) for non-members.
Places are limited so register now
Members can also access the resources of SIIA in the US and benefit from a preferred rate to attend the September summit. Find out more about SIIA UK membership here.
Carolyn Morgan has launched, acquired, grown & sold specialist media businesses in print, web and events. She launched the Specialist Media Show in 2010 and grew a community of ambitious publishers keen to grow their digital activity. SIIA acquired the Specialist Media Show in 2013 and Carolyn is now Programme Director for SIIA UK. Follow Carolyn on twitter at @siiauk.