A devoted subscriber base ensures that your material is viewed by those who are really interested in it as well as generating income. This post will go through how to maximize your ad placement and create a strong subscriber community. So let’s dive into how to actually get subscribers.

What Makes a Strong Subscriber Community?

A community of users who have subscribed to the information or services on your website is referred to as a subscriber community. These people have agreed to receive emails or notifications from you because they are interested in the content on your website.

You must determine the demographics, interests, and behaviors of your subscribers in order to create your subscriber community. Analyzing the traffic to your website, the number of followers you have on social media, and customer data will yield this information. You may modify your content and services to match the demands and interests of your subscribers after you have a comprehensive grasp of their characteristics.

If you haven’t yet implemented any subscriptions on your website, be it free or paid, you can check for returning visitors in google analytics to get a good idea of how big your loyal community is. All returning visitors have the potential to be turned into subscribers.

Offer Unique Value to Your Subscribers

Getting notifications shouldn’t be the only perk of being a subscriber to your website. The next stage is to provide special value to the people that follow you. Once you have identified your subscriber community and you’ve researched what their needs are, it’s time to monetize.

This value may come in the form of premium materials, first access, individualized experiences, or price breaks on goods and services.

The best approach to thank your subscribers and keep them interested is to provide exclusive stuff. You may produce content, such as articles, films, or podcasts, that is solely accessible to members. Another method to provide distinctive value is to grant early access to new goods or services. Before they are made public, you may give your followers a sneak preview of impending goods or services.

How Important is Engagement for Subscriber Communities?

Building a vibrant community of website subscribers requires engagement. You must produce materials and offerings that motivate your visitors to communicate with one another and with your website. This may be accomplished by promoting user-generated material, providing events, and interactive content.

Sometimes to get subscribers, you need more than just information pieces, you need debate. Quizzes, polls, and surveys are all examples of interactive material that may be used to engage your subscribers. Subscribers are encouraged to engage with your website and one another through this kind of material. To include and benefit your subscribers, you may also conduct events like webinars, workshops, or live streaming.

Promoting engagement is a strategy that can be combined with everything else.  Encouraging user-generated content doesn’t really do you any bad. Reviews, comments, and postings on social media platforms can all be considered user-generated content.

Do You Need to Advertise Your Website?

Typically, websites that focus on a form of conversion like sales, advertise. This means the CPM (cost-per-mile) of your display and search ads would be extremely cheap if you are just giving out information for free and not asking people for anything in return.

It’s always worth a shot to try advertising and run the numbers after. It can help your audience grow and expand.

There are various ways to promote your website, including social media advertisements and display ads on other websites. You may improve your chances of acquiring new readers who are truly interested in your material by focusing your advertising on the correct demographic. You may construct your brand and position yourself as an authority in your area with the aid of advertising.

However, advertising may be expensive, and it might not be the best course of action for many websites. When determining whether or not to market your site, it’s critical to take your spending plan and objectives into account. It could be more beneficial to concentrate on increasing your organic traffic through SEO and social media marketing if you are just starting out and have a little budget.

If you are a large website, and you know your CLTV (Customer lifetime value), and you know how much a monthly subscriber pays, then you can simply do the maths and find out if it’s worth advertising.

Final Words

Website owners and content decision-makers must focus on developing a robust subscriber community. A devoted subscriber base ensures that your content is seen by those who are really interested in it, which ultimately generates more income.

 You must define your community, provide special value to your members, and encourage involvement if you want to develop a successful subscriber community. Once you have established a substantial subscriber base, you can monetize them a thousand ways. Did you know that there are many ready solutions that are just waiting for you to click a few buttons and monetize your existing subscriber base? Check out Publir, and see for yourself!

The post How to Build a Strong Subscriber Community as a Website first appeared on Publir.

Two powerful tactics to increase revenue are upselling and cross-selling. You may boost your sales while giving your audience more value by providing your subscribers with other goods or services that go along with their first purchase. Let’s see how to do that, and what’s in it for you.

Did you know that upselling, on average, increases a business’s revenue by up to 30%?

H2: What Are Upselling and Cross-selling?

Let’s first establish what we mean by upselling and cross-selling before moving on to the tactics. Offering a more expensive item or service to a client who has already made a purchase is known as upselling. Contrarily, cross-selling refers to the practice of recommending an additional good or service to a client who has previously made a purchase.

For firms, especially those with subscription-based business models, upselling and cross-selling may be effective revenue-generating strategies. By utilizing these techniques, you can easily improve client interactions and raise the lifetime value of your subscriptions.

Imagine having 1000 subscribers with a subscription of $3.99. That’s $3,990 USD, make a small upsell to half of them, and motivate them to change their plan to $7.99, and you’ll increase your monthly cash flow from subscriptions by $2000.

Upselling is simply one of the best ways to increase revenue. Especially when you’ve already got the client base, and it’s just waiting for you to act.

A good cross-selling example, on the other hand, would be a person subscribing to you and then offering them something at a discounted price because of their purchase. 

H2: Understanding Your Audience

Understanding your audience is the first step to mastering upselling and cross-selling. A good idea is to segment your subscribers based on their interests and behavior by evaluating subscriber data and learning as much as possible about them.

If you have a set of subscribers, for instance, who consistently buy fitness-related products, you may offer them supplementary items like exercise gear or vitamins. If you don’t know where to get those, or to source them, becoming an affiliate of a large company like Amazon, might be ideal for you.

You enhance the possibility of a successful upsell or cross-sell by customizing your offerings to each category and forging closer bonds with your subscribers. Therefore, the closer the products and services you offer are to you personally, the bigger the chance of a cross or upsell.

H2: Create Different Offers

Once you have an understanding of your audience, the ways to increase revenue are countless. However, it’s of utmost importance to develop unique offerings that go beyond what your members initially purchased. 

Search for goods or services that improve the subscriber’s experience and make their subscription more valuable. Developing exclusive deals for members is a successful strategy for producing a variety of offerings. You might, for instance, grant subscribers early access to new goods or services or give them a discount on subsequent purchases.

Make sure to draw attention to the advantages of the upsell or cross-sell while presenting your offerings. Describe how the extra item or service will improve the subscriber’s experience and increase the subscription’s value and give it at a much-discounted price, compared to what its standalone cost would be.

What is the Best Time and Place to Offer Subscriptions?

Cross-selling and upselling are highly dependent on location and timing. To optimize the impact of your offers, present them at the ideal moment and location.

Make the appropriate time decision while presenting your offers. Consider offering an upsell to a subscriber group, for instance, if they commonly buy a certain product or service, just after they’ve made a purchase. The same thing you can do with certain articles or pieces of content. Make your offers relevant.

Think about where you’ll display your offerings when it comes to placement. Will you put them in a pop-up window or the sidebar of your website? Will you include them in your email marketing campaigns? Try out several placement strategies to determine which ones your audience responds to the best.

H2: Ramp Up Subscription Tiers

Another great idea is utilizing subscription tier upsells to increase income from current customers. You may entice users to upgrade to a higher tier membership by providing more features, advantages, or content. Understanding your members’ requirements and preferences is crucial for upselling subscription packages. Analyzing and segmenting subscriber data can help with this.

You may design tiered subscription plans that suit your members’ tastes if you have a thorough grasp of their demands. Promoting the distinct advantages and worth of each tier helps persuade subscribers to move up a tier. Additionally, it’s crucial to make the upsell procedure simple and hassle-free for subscribers.

The Next Step in Your Subscription Game

Instead of relying on affiliate marketing alone, great websites have merchandise and products of their own. Creating a small online store to complement your website is easier than ever. Check out Publir’s Quickshop solution that can be seamlessly integrated with your website in minutes.

The post Maximizing Revenue: How to Upsell and Cross-Sell to Your Website Subscribers first appeared on Publir.

As of today, there are over 1 billion websites online. How can you differentiate yourself? Let’s go through 5 tested methods for boosting the subscriber base and the revenue of your websites.

1. Give Value for Free and Create Good Content

Producing interesting material for your audience is the first and most crucial step in growing your subscriber base. Your content ought to be educational, interesting, and pertinent to your intended audience. In order to have a clearer understanding of what your audience needs, you should research on a daily basis to pinpoint useful topics.

You must provide high-quality material that interests your audience and tempts them to subscribe after you have decided on your themes. Making a content schedule and organizing your material in advance can help you do this. 

But most importantly, don’t just digest content and reshape it in your own way; instead, be original and create something new that you can’t find on any other website. Something truly unique and useful.

2. Optimize Your Website for Conversions

The main instrument for turning visitors into subscribers is your website. It’s crucial for subscription-based sites to create a visually appealing and simple-to-use website. Make sure the navigation and structure of your website are ideal for quick access to subscription alternatives.

An e-commerce owner would tell you that effective calls-to-action (CTAs) are also essential for the success of any website. Make use of eye-catching CTAs to get people to subscribe. These CTAs may be strategically positioned in the sidebar, header, footer, or pop-up windows, and most importantly, after or around crucial points of interest in your articles.

Imagine you’re writing a 1000-word article where you will reveal the answer to the question posed in the title somewhere in the middle of the article. Place the CTA around it.

3. Leverage Social Media

Social media is a great tool for expanding your audience and increasing website traffic. If you aren’t, start promoting your website on sites like Twitter, Facebook, Instagram, and LinkedIn to increase subscribers. Depending on your niche demographic, you can utilize Reddit, Quora, or even Tik-Tok.

Make interesting social media posts to advertise your website and boost subscriptions. Moreover, using a wider variety of content types, including pictures, videos, and infographics, can help you keep your audience interested and engaged. Additionally, you may utilize social media advertising to focus on your desired audience and expand on it.

4. Use Incentives and Promotions

A fantastic technique to get visitors to subscribe to your website is through incentives and promotions. Visitors might be persuaded to subscribe by offering incentives like special content or discounts. To persuade people to subscribe, you may also provide free trials or samples.

Promoting sales and incentives to prospective subscribers through email marketing is a successful strategy. To communicate with your audience and keep them updated on the resources available on your website, use email marketing.

Moreover, you can also use standard sales techniques while promoting subscribing as if you were promoting a product. For example:

• Upselling.
• Cross-selling.
• Utilizing timers, counters, and social proof.
• Gift cards and promotions.
• Content behind a paywall.

5. Provide Personal Recommendations

Implementing an algorithm that boosts recommendations within your website is something you must think about, especially if your website has millions of visitors.

Personalized content suggestions are one approach to growing your subscriber base. You may provide each user with individualized suggestions based on their preferences, search history, and website behavior by employing data analysis and machine learning algorithms.

In order to keep an audience engaged and interested and to reduce churn, use personalized suggestions. Your audience is more likely to return back and subscribe to your website if you provide them with pertinent material.

Through email campaigns, pop-up ads, and on-site suggestions, you may offer customized recommendations. And you may improve the usability and customization of your website by using these techniques.

How Do You Get Started on Creating Paid Subscriptions? 

Getting more subscribers requires both time and effort but also a well-thought-out approach. The five strategies we described are proven ways to increase your subscriber base and monetize your content.

In conclusion, make sure your website is optimized for conversions, make use of social media, and run incentives and promotions. You can boost your subscriber base and raise your revenue by putting these tactics into practice.

Use Publir’s subscription tool if you wish to advance your content monetization approach. Instead of trying to figure out on your own how to set up your website for a successful subscription model, utilize this time to find subscribers after Publir has set it up for you. The provided solution is a proven technique to boost your subscriber base and monetize your content.

The post 5 Proven Strategies to Increase Subscriber Count on Your Content-Oriented Website first appeared on Publir.

Incentivize Engaged Customers to Pay

Once a user has signed up for your services, it doesn’t mean your job is done. The recurring nature of subscription-based models gives the power to customers to cancel anytime if they are not satisfied with the product or service. As such, businesses should always take proactive steps to engage their customers consistently. Offer your subscribers exclusive offers and deals to make them feel like a part of an exclusive/elite community. If customers are loyal to your business, they expect something in return too. Reward them with freebies and gifts to maintain and increase their loyalty. Highly engaged customers are more likely to upgrade to your premium-tier content when you add another pricing tier.

Premium Content Should be Kept Simple and Familiar

Premium content does not mean something drastically different from your brand’s content style. It should still be in line with your brand identity and style. This is especially important if you have different formats of content, as it can become more challenging to describe what you are offering. If customers don’t understand, they won’t buy. Don’t sell something completely different or new, as customers will not resonate with it. Add a layer of value without changing the core foundation of your product/services.

Make it Easy for Subscribers to Pay for Premium Content

Keep your pricing model easy and simple to understand for customers. Offer suitable and convenient payment options. Customers use subscription-based products and services for the convenience of instant renewal and delivery. As such, make sure to offer several payment options to your customers. This is why recurring direct debit payments are so popular. Customers can set up Direct Debit Payments, and every month the subscription fee is directly charged from the customer’s bank account. Besides offering multiple payment options, you should display your pricing right at the front and center so that customers are not confused about the price. Do not confuse the customer by hiding the pricing. Complete transparency goes a long way in building customer loyalty and more long-lasting, trustworthy relationships. Some businesses try to hide their cancel subscription button by complicating the process, requiring a phone call, or retaining some/all of the customer data. This may keep the customer on board a bit longer, but in the long run, this strategy is catastrophic. Customers share their horror stories with their friends and family and share them on social media, which drastically impacts the company’s reputation. 

The most successful subscription-based companies, like Netflix, are giving more and more freedom to their customers to cancel anytime. They have completely eliminated the annual subscription as they are too binding. Additionally, they automatically cancel subscriptions if the account has not that has been used in 12 months or more. Some companies are also offering a “Pause” button that allows customers to take a break from their subscriptions while retaining all of their data. 

Keep your pricing reasonable

Overall, users believe that digital delivery should cost less and that they should be spending less overall compared to print. However, you have to factor in the instant convenience and searchability of the content, especially for specific kinds of information. Pack as much value into your content compared to the price as possible. Most subscription-based businesses offer some kind of “freemium” to allow their customers to understand the value of their products/services before committing to pay. Offering such “freemium” increase the value of your products/services in the eyes of your customers. 
Subscription-based models are becoming the way for many businesses to grow in this digital-forward economy. Businesses should note that they need to focus on meeting customer demands, needs, and expectations in such uncertain and unpredictable times. As experts in the programmatic advertising market, Publir offers a one-of-a-kind unified platform specifically built to maximize earnings for digital content creators. We provide complete solutions for Ad Optimization, Subscriptions, Crowdfunding, QuickShop, and AdBlock Recovery.

The post Tips for Building a Premium Tier Content Subscription first appeared on Publir.

The Implication of Subscription-Based Content for Brands

Companies can find ways to widen their top-of-funnel content in order to attract even more readers to subscribe to their content. For a successful subscription-based business, brands need to widen the top of their funnel by making mass offerings a part of their businesses. To meet their consumers’ need for new content, businesses have to collaborate with external partners. Similarly, they can use cognitive technology, including artificial intelligence, to predict consumer preferences and behavior and offer them a unique experience.

Despite the initial high investment, subscription-based models are more valuable for customers than single-pay models. Subscription-based models also offer the possibility of expanding the range of services offered and increasing the fee as customers have to pay more for premium content. This means greater profitability. Disney Plus operates on this model.

The Implication of Subscription-Based Content for Customers

As discussed earlier, subscription-based models give more control to the customer by personalizing content creation. Such personalization has distanced viewers from traditional media like television, radio, and print by reducing their attractiveness and influence. To keep up with the change, many traditional media platforms have adopted the subscription model to retain and engage their audience. They are offering 24-hour content, premium content, and even previews.

The subscription-based model leads to the emergence of social tribes, i.e., paying a subscription fee makes consumers belong to an elite social tribe in which sharing and consuming similar content becomes a way of fostering and consolidating existing social relationships.

Transformation of Content

Besides affecting users and businesses, subscription-based models are transforming the kind of content produced, which is increasingly catered to meet the audience’s needs. With regards to this, local nuances to global content is what makes the business different from others. While the content should have a global approach, it must be tailored by keeping the local audiences in mind. Modern content has to focus more on contemporary problems, dilemmas, and political issues, as it has to remain in touch with the social moment. As such, a lot of content these days focuses on diversity, sustainability, and equality which are the major challenges of the current era. However, brands are constantly under pressure to create content. Often, they adopt a volume strategy in which they offer a wide range of content, but all are similar to each other. As such, the level of originality differentiation is low, but the supply is high. 

The Future of Subscription-Based Content

Subscription-based business models have been successful in adapting to the needs of their customers. According to a report by the World Economic Forum, 60% of younger generation consumers already use paid subscriptions for their entertainment and information. In a few years, this will be a reality across all age groups.

The pandemic has particularly accelerated subscription-based businesses that have experienced a digital boom. Overall, the subscription-based economy has grown by 400% in the last decade. As the competition in the space intensifies, players are looking for new ways to innovate, improve their offerings and meet the customer’s needs. They are trying to surprise their customers frequently with new offers, launching new content, and constant renewal of offers. Most customers have subscribed to more than one platform, which means differentiation has become increasingly difficult, and offering just exclusive and diverse content is not enough. 

It must be noted that subscription-based platforms are not just competing amongst themselves; they are also competing with users themselves, who have created democratic platforms like Patreon to democratize the subscription model. As such, differentiation has become a challenge in the face of rising subscription-based content. Platforms like Netflix have become victims of their own success. Continuing to grow has become difficult. They are now controlling shared accounts and family plans, just like Spotify. Even the most successful subscription models have to continuously innovate, expand and evolve to meet their customer’s needs and satisfy them across all touch points.

The above discussion suggests that subscription-based models will continue to grow in an era of increasing personalization. The key to a successful subscription model is continuous innovation and evolution based on customers’ needs and expectations.

The post Why Are Content Subscriptions Most Important Today? first appeared on Publir.

Understanding Your Audience

While your content can appeal to a variety of different audience groups, your goal should be connecting with your regular readers. Tailored content makes your audience feel important and valued. This means that these readers can become promoters of your brand. 

You need to truly understand your audiences and create buyer personas for targeted content marketing. For instance, if you are selling beachwear, you may want to write different content for those who live close to beaches (and visit frequently) and those who live far from beaches (and visit only a few times a year). Curate your content based on your buyer’s persona. 

By creating a buyer’s persona with your customers’ characteristics like profession, age, gender, industry, daily tasks, etc., you can target your messaging to different groups of audiences. 

Assessing Content Quality

1. Relevant KPIs – You can assess the quality of your content by looking at the relevant KPIs, including dwell time, search visibility, and reader engagement. Search visibility shows the website’s content ranking amongst a variety of keyword combinations. Dwell time refers to the amount of time a person spends looking at your website’s content. Reader engagement measures your readers’ interests, thoughts, and opinions. 

2. Use Data Analytics Tools – Instead of assuming what your audience likes or not, use the various data analytics tools to uncover the patterns of content sharing and engagement. Different data analysis tools can tell you how your content is being shared across various social media channels against your competitors. Find out what kind of content is the most successful and tap into that space to create more relevant content for your readers. 

3. Content Audit – Conduct a thorough content audit to reveal the strength and weaknesses of your incumbent content strategy to make improvements moving forward. A complete audit assesses your link structure, current topics, metadata, etc. An audit helps you figure out the shortcomings of your current strategy, thus, allowing you to improve future content marketing campaigns. It is important to note that content strategy is not static, i.e., it should change with changes in market conditions, audience interests, and so on. Therefore, you might need to conduct content audits frequently throughout the year. 

4. Engagement Statistics – The best way to assess the quality of your content is by monitoring your engagement statistics, including views, likes, subscribers, and comments. If you are new to the content creation space, look at what your competition is posting. What generates the most audience attention? Understanding what customers want will help you create content that will cater to their interests. 

5. Check Page Traffic and Rankings – Use Google Analytics to check your page’s organic traffic, the number of keywords, and the ranking of those associated keywords. If you have written something that is of high value for your readers, your page traffic and rankings will organically go up. 
6. Look at Your Competition – One way to assess your content quality is by comparing your content with your biggest competitors. See what your competition is putting out there and what kind of content is trending. Try to make content around similar topics by adding your unique touch to it.

Creating a Sense of Community and Belonging

Creating a sense of community and belonging is crucial to successful content creation and marketing. Your audience should not just be passive consumers of your content. They should feel as though they are a part of a community. One of the ways to make audience members feel a sense of community is by involving them in the process of content creation. Make the channels of communication transparent and incorporate their inputs. Acknowledge and appreciate your readers from time to time for their valuable time. Share content in a way that makes them feel they belong. This can be done with high-quality personalization and customization. Share content that makes them feel seen and heard. Use different ways to ask for your customer’s feedback and opinions in crucial business decisions. For instance, asking them in a poll what they think the next post should be about. This gives them a sense of belonging to a community where their opinion is valued. 
Content creation is an effective marketing practice that publicizes your brand and allows you to reach new readers. A good content creation strategy includes understanding your audience, assessing content quality, and creating a sense of community and belonging. As experts in the programmatic advertising market, Publir offers a one-of-a-kind unified platform specifically built to maximize earnings for digital content creators. We provide complete solutions for Ad Optimization, Subscriptions, Crowdfunding, QuickShop, and AdBlock Recovery.

The post Growing Your Paid Readership: A Guide to Content Creation first appeared on Publir.

Benefits of Monetization

There are several benefits of monetizing your business in addition to making a monetary profit:

1. Increased Prestige – Monetizing your content can make your readers feel more important. Readers get a sense of exclusivity if some of your content is behind a paywall. Oftentimes, they are happy to pay for exclusive content. Additionally, even a small charge for your content makes it seem higher in value in the eyes of the readers.

2. Higher Quality Content – If you are charging money for your content, you have constantly strive for better quality. People can quickly cancel their subscriptions if they find the content sub-par. When you start monetizing your content, you have to invest more time and energy into content quality. Subscribers usually get exclusive access to quality content and premium perks which makes the subscription more attractive to them.

3. Increased Income – Monetizing your content creates multiple streams of revenue. Instead of just relying on advertisements on your website, creating a subscription-based or membership model can help you diversify your revenue sources.

4. Increase Reader Loyalty – By switching to subscription-based paid models, you can actually increase your readers’ loyalty. Readers who invest their time and money in a business are more loyal to it than those who don’t. Readers who have paid for your content want your business to do well.

Planning and Providing High-Quality Content

As mentioned above, subscription-based businesses have to commit to high-quality content to sustain the interest of their readers. Content is an asset for your business, so you must invest in high-quality content writers and editors. Good content should be clear, consistent, user-centered, concise, useful, and supported by references. Here are some things that you should keep in mind while creating content:

1. Having a Purpose – Your content should have a clear purpose, i.e., why are we creating this content? If you can’t answer this question, you might need to re-evaluate your content strategy.

2. Having a Measurable Goal – When you have a purpose for your content, you can measure the effectiveness and ROI of the content.

3. Keeping the Audience in Mind – It is important to keep your audience in mind. You need to understand whom you are creating this content for. You might have to use customer research, drive personas and conduct user analysis.

4. Using Specific Channels – You should know what channels your audience is using to create content tailored for that specific channel. Rather than just creating one type of content and sharing it across different channels, you can cater to your audience’s needs better if you tailor your content according to the channel.

Structuring Your Subscription Model

Building a subscription model is a multi-step strategy that requires prior planning. Consider the following:

1. See if Your Business Will Benefit from Subscriptions – Before switching to a subscription-based model, figure out if it is actually beneficial for your company and content. For instance, is your content something that readers have to access continuously within a period of time?

2. Choose a Pricing Strategy – There are different kinds of pricing strategies to choose from, like tiered, flat-rate, usage-based, module-based, and per user. You should choose the strategy depending on your goal. You can create different levels of subscription packages and levels.

3. Focus on User Experience – Improve the user experience by making the sign-up process easy and fun. You do not want your users to get confused about how to sign up once they browse your website. The sign up option should be clear and bold.

4. Simplify the Billing Process – You should have a robust billing process to make sure that it is set up to accept recurring payments. Your payment gateway should be simple and clear so that customers do not have to navigate a number of links to make a simple renewal. Make the interface as simple as possible. Offer the payment gateways your customers prefer, including various international and local payment methods. 

Marketing Your Content 

In modern times, there are a variety of avenues for marketing your content. For instance, you can offer a “freemium” option for your customers, i.e., they can access the basic version of your content for free, but they have to pay to get access to premium content. For example, Spotify uses such a subscription model. Utilize email marketing to reach your customers. Start making an email list if you do not have it already. Regularly post on your social media platforms to remind your customers of the value of your content. Finally, you can partner with trusted influencers to create mutually beneficial partnerships. You will gain more popularity and trust when a reputed influencer talks about your content. 

Nurturing Your Audience

There are many tactics to nurture your audience to your subscription-based content. For instance, you can reach your audience with uniquely targeted content that leverages their personas. Use multi-channel nurturing tactics that go beyond email marketing. Modern marketers use a combination of different social media channels, dynamic website content, email marketing, paid retargeting, and direct sales outreach. 

Building a paid readership is not a simple process; it is a multi-step, complicated strategy, as described above. However, the transition to this model is inevitable in the current economy. As experts in the programmatic advertising market, Publir offers a one-of-a-kind unified platform specifically built to maximize earnings for digital content creators. We provide complete solutions for Ad Optimization, Subscriptions, Crowdfunding, QuickShop, and AdBlock Recovery.

The post How to Build a Paid Readership? first appeared on Publir.

For businesses, subscription-based models are alluring because they allow them to predict their revenue. The more guaranteed revenue for a business, the greater its value. Since a high percentage of revenue of subscription-based businesses is recurring, its value will be higher than businesses with limited recurring revenue. The consistency in revenue allows various subscription-based companies to manage inventory and the lifetime value of customers, and offer customer pricing and leads to many other business benefits. Here are some of the most prominent benefits of subscription-based businesses: 

1. Reducing Barriers to Entry

In a changing customer market, subscription-based business models reduce barriers to entry and keep your company in line with your competitors. You do not want to be the only company offering a flat rate when your competitors are offering easy monthly subscriptions. Your final price may be even cheaper than a 12-month subscription, but modern customers are not looking to invest all at once and risk their money. The freedom to cancel anytime gives them control over their choices – they can cancel if they do not like the product/service. The perpetual model is inflexible and comes with a high initial cost and risk to the customers. As such, the perpetual model is becoming irrelevant in the face of changing customer expectations.

2. Greater Flexibility 

Subscription-based models offer greater flexibility to both customers and businesses. Customers can choose what tier of service they want. Usually, there are the basic, standard, and premium. Depending on their need, customers can choose what level of service they want. Again, this offers them more freedom to choose and control their product/services. 

Additionally, businesses can upgrade their service and add more tiers. This means they can offer the best version of their product and service, i.e., continuously improve. 

3. Build Better Customer Relationships

Subscriptions allow businesses to know their customers better. Subscriptions give businesses greater access to their customers. For instance, they can ask customers to opt for newsletters while subscribing to their product/service. Newsletters can educate customers on any new updates, new product launches, and so on. You can add testimonials and success stories to your newsletters that allow customers to feel connected with your brand. 

4. Easier to Make Big Changes 

A company is in a better position to make big changes if it works on a subscription-based model. With a subscription-based model, you are simplifying and centralizing your whole product. This means that you can scale your change more easily. In perpetual models, the old version of your product/service may still be in use somewhere. As such, making a major change is more difficult. 

The New York Times: A Success Story

In 2021, the New York Times generated total revenue of $1.36 billion in subscriptions, $497 through advertising, and $215 million in other advertising revenues. Out of the total subscription revenue, print subscriptions contributed $558 million, while digital subscriptions made $773 million. The New York Times subscription model consists of the distribution of its content across various digital and print platforms and a small part to third-party platforms.

Freemium: NY Times’ subscription-based strategy is driven by a freemium model in which it allows users to access a fixed number of articles for free and then asks for a fee to access more articles. The fee is as low as $1 per week. By 2021, the NY Times had 8 million digital subscribers.

The NY Times did not always have a subscription-based model. It shifted to a subscription-based model in 2011 by abandoning its reliance on advertising. This was a major change as news publishers have traditionally relied on advertisers. A small proportion of subscription revenue still comes from print.

The goal of the NY Times is clear: reaching 10 million subscribers by 2025. They use similar strategies – offering substantial discounts, engaging subscribers, and registering new users. The media giant is well-positioned in a digital age where its print customers are more than happy to convert to digital subscriptions. Some lessons that other publishers can take from NY Times include registering your users (they are more likely to convert to subscribers), encouraging original reporting over press releases, offering newsletters and podcasts, improving journalism quality, and focusing on areas that interest your target audience.

The power of The NY Times lies in its strong brand value that attracts users directly to its website. People trust the brand and, therefore, are willing to pay.

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