Membership Team Training Guide - Membership Application - The
Membership Has Its Plusses: Growing Slate’s Member Model
29
Transcript of Membership Has Its Plusses: Growing Slate’s Member Model
WHY LAUNCH A MEMBERSHIP PROGRAM?
WHY LAUNCH A MEMBERSHIP PROGRAM?
#1. Revenue diversification
• Volatile brand and DR advertising markets • Long term downward trend on CPMs • Risk reduction
WHY LAUNCH A MEMBERSHIP PROGRAM?
#2. Aversion to site-wide paywall
• No history of subscription to physical paper • No geographic or subject niche monopoly • Competing with high quality free content elsewhere
99%
1%
63%
37%
Daily visitorsAll visitors
Unique Visitors Pageviews
WHY LAUNCH A MEMBERSHIP PROGRAM?
#3. Because we can.
• A highly engaged segment of users derive great value from content they don’t pay for.
• We were leaving money on the table by not offering users a way, and a reason, to pay us.
WHAT IS SLATE PLUS?
Cost: $5 per month or $50 per year
Slate Plus is an all-access pass for readers who support our journalism and want a closer connection to it.
SLATE PLUS BENEFITS
• Bonus and early access content on the site
• Extra podcast content
• No ads in podcasts and iOS apps
• Reduced advertising on site
• Weekly email
• Commenter labeling
• Discounts and early access to event tickets.
(mug shot)
SLATE PLUS BENEFITS
(mug shot)(mug shot)
RESULTS
RESULTS
Total Members
0
4,500
9,000
13,500
18,000
2014 2015 2016 (forecast)
RESULTS
Annual Revenue
2014 2015 2016 (forecast)
RESULTS
Net Members Added by Week
-800
-400
0
400
800
1,200
1,600
RESULTS
Net Members Added by Week, Post-Launch
-500
-375
-250
-125
0
125
250
375
500
RESULTS
Key Numbers
• 70% join as annual members
• 50% have been reading Slate for >5 years
• Second most popular reason members join: to support Slate.
KEYS TO GROWTH
KEYS TO GROWTH
#1. Target benefits and marketing at highly engaged user segments.
Segment Conversion Rate
Daily visitors 3.3%
Dear Prudence fans 1.5%
Podcast listeners 2.9%
Commenters 11.6%
KEYS TO GROWTH
#2. Promote membership wherever users access Slate.
Ideally with a native-feeling UX.
KEYS TO GROWTH
#3. Experiment, but with a consistent strategy:
Offer more content and a better experience to highly engaged groups.
Measure results and discontinue poor performing tactics.
KEYS TO GROWTH
KEYS TO GROWTH
KEYS TO GROWTH
#4. Increasingly ambitious editorial vision.
WHAT WE’VE LEARNED
Paying users have high standards, and so should we.
• Customer service
• Login & registration
• Payment processing
WHAT WE’VE LEARNED
Editorial buy-in is essential.
• Production staff now on editorial team
• New senior editor
• Fund ambitious editorial projects
• Break down barriers with readers
WHAT WE’VE LEARNED
Sales team buy-in is essential.
• House ads drive large number of signups
• Sensitivity to promotion of reduced ad benefit
• Members are evidence of our status as a premium publisher
LOOKING AHEAD
• We’re capturing more of the value we create. We can do more.
• Focus on needs of core audience rather than sideways visitors.
• Distributed platforms.
• Better modeling and targeting of likely subscribers.
Projection: in a few years, Slate Plus will drive 10-15% of our revenue, but 40-50% of our profit margin.
