Dovetail grow rev per sub 25 june 14
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Transcript of Dovetail grow rev per sub 25 june 14
10 ways to grow revenue per subscriber
Carolyn Morgan @carolynrmorgan Dovetail User Group
British Library, London, 25 June 2014
� Carolyn Morgan
� Publisher, Event Director, Strategy Director, Digital Director at EMAP Specialist
� Launched Specialist Media Show in 2010
� Sold to SIIA in 2013; ran their London media events for Information Industry Network
� Consultancy for media businesses on digital strategy � @carolynrmorgan � https://www.linkedin.com/in/carolynmorgan � www.penmaen-media.co.uk � [email protected] 07887 625229
Why grow revenue per subscriber?
� Specialist markets limited in size
� Subscribers most enthusiastic customers
� Easy to collect data
� Build intelligence about purchases
� Direct marketing channels
� Move to premium membership
� Not just direct subscriber revenue: ads, merchandise, events…
� Total Lifetime Value
1. Digital upgrades � Make digital upgrades
affordable for print subs
� Direct promotion (carrier sheet, email)
� Add extras for digital subscribers
� Motorsport F1 Grand Prix reviews & photo galleries
� Revenue up 39% yoy
� Plus new ad revenue
2. Create a premier tier � Exclusive online content
� Digital back issues
� Retail discounts
� Premier members card
� Editorial access
� Reader events
� Product testing
� Priority booking
3. Add premium products � B2B mentality
� Small group of buyers: high value deals
� Build on editorial insight
� Gather public and proprietary data
� Useful interface
� Premium pricing
� HSJ Intelligence, Wind Intelligence
� Prosumers?
4. Package discounts � Subscribers are powerful
buyers
� Negotiate discounts from retailers
� Provides added value to subscribers
� And can generate new advertising revenues too
5. Sell holidays � Bespoke packages
� Like-minded travellers
� Tailored travel content
� Investment in database and skilled team
� Editorial buy-in
� Smart e-marketing
� £4m bookings for partners in year 1
6. Sell merchandise � Detailed database
� Select products
� Retail partnerships
� Who holds stock?
� 220 Triathlon
� Songlines: editorial content: collections & awards albums
7. Sell tickets � Time Out
� Event Reviews > tickets
� Multi channel: web, mobile, daily email
� 2 Fore 1 discount green fees
� Search hundreds of courses online
� Plus e-marketing
� Readers buy e-vouchers; redeemed by golf course
8. Launch events � Future Photography Show
� Editorial contacts
� Secure key sponsors
� Promote across media channels
� Subscriber packages
� Co-market with sponsors
� Logistics team needed
9. Sell training and skills � Prosumers
� Editorial knowhow
� Brand trust
� Marketing reach
� High value events
� Guardian Masterclasses
� Econsultancy training
� Wired consultancy
10. Promotional platform for professionals
� Sub group in audience keen to promote themselves
� Leverage brand trust & traffic of core site
� Add relevant editorial content
� Provide simple online platform
� New revenue stream
Key requirements for growing subs revenue
� Sophisticated database – to segment your subscribers
� Smart email marketing – good analytics
� Close collaboration with editorial
� Insight into your skills and your subscribers interests
� Web development resource
� Transaction tracking/ single customer view
� Third party partnerships
� Open mind: look outside your market sector