The Local Media Association’s latest innovation report looks deeply at digital subscriptions and membership models.
The report features the successful strategies of the Star Tribune (Minneapolis), The Denver Post/Digital First Media, The Buffalo News and Spirited Media. All of those companies presented at the 2018 Media Transformation Conference.
The report goes into great detail on the strategies being implemented at each of these companies. It is the first project of the newly launched LMA Local News Resource Center, a Partnership with Facebook, Instagram & CrowdTangle.
Here are four things that you will learn in the report:
1. An investment in technology is critical
If you want to have a great digital subscription strategy, you will need to invest in technology to help with gathering user data, analyzing content decisions, setting paywall meters, and more. Find out how the companies listed above are doing this.
2. Eliminate the friction for users
Eliminating user friction for newsletter signups, registration and login, payments and other technological processes also improves rates of conversion. Putting a priority in these areas will also help when building a successful strategy.
3. Make data your focus
Creating a data-driven culture with dedicated resources is fundamental to digital consumer revenue growth. Obtaining and using multiple data touchpoints—such as email addresses or user behaviors—brings both challenges and advantages. Data is the currency for digital transformation.
4. Move to dynamic metering
Dynamic metering for the paywall is a common strategy, and meter rules are becoming less transparent to the reader. News sites aim to test, innovate and customize meter rules, often per audience subset, and strike a balance between potential income from a converted subscriber and potential ad revenue lost from a decrease in pageviews.
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