Subscriptions, memberships, paywalls, conversions.
Conversations linked to a reader revenue / audience-centred business strategy have been going on for years. This is no temporary hype, no zeitgeist-y philosophy or idea.
This is recognisably the most logical, realistic and studied approach to securing the future of newsrooms, so it’s no surprise that once again it’s been a central theme in this season’s conference season.
The trick of course is how to turn casual users into paying subscribers. Conversion is therefore something which is quite rightly occupying the minds of conference rooms and board rooms. And with good reason. Done right, you’re setting yourself up for a long-term relationship with your subscribers. Get it wrong and those readers will churn faster than you can say ‘have you put the milk in the fridge?’
So what are the secrets to successful (and increasing numbers of) conversions?
Polaris Media outlined the customer journey to subscription very neatly in five parts in their recent WAN-IFRA presentation as follows:
Through each of these stages, three things are worth paying attention to. And anyone can focus on three, right?