11 Best Practices for Digital Subscriptions
In this blog article, we give you 11 best practices for digital subscriptions and a short summary of the FIPP Insider Webinar, that took place on 7th of May 2020.
Our Managing Director York Walterscheid was invited to take part in the FIPP Insider Webinar with James Hewes, CEO of FIPP, and Tobias Henning from Axel Springer to talk about best practices for digital subscriptions.
Learnings from the FIPP Insider Webinar
James Hewes provided a deep-dive into the Global Digital Subscription Snapshot 2020 Q2, including the impact of Covid-19 on the industry in the first quarter of 2020. He stated the greatest quarterly growth rate so far, because of the crisis. The need for information has never been higher than in the week of the highest peak. So it was not a big surprise that users went more frequently to news sites.
It was exciting to hear about insights and best practices from the daily working experience of Tobias Henning, Axel Springer’s General Manager for Premium BILDplus & WELTplus, which are two of the most successful news medias and also the first that established digital subscriptions in the German-speaking market in collaboration with CeleraOne.
Together with York Walterscheid, they gave insights about industry best practices for a successful digital subscription strategy.
11 Learnings for Digital Subscriptions
Here you can find 11 key takeaways we extracted from the webinar’s Q&A:
1. Explain the value proposition to your users and convince them to a subscription
2. Target and engage users with the right content and offers
3. Above all create great digital content. Because it is not enough to use just the print content for online
4. Also start with a registration wall! It is the best chance to get to know your readers and to show them your service
5. Try out different paywall models, learn from the failings, because it is easy to change models and prices
6. Video content behind paywalls comes with higher dwell time, because videos make user stickier to the product
7. In the first place focus on digital users and convert them from free to paid, rather to convince print users to digital
8. Provide an easy payment method for smooth access to content user want to read and pay for
9. It is possible to increase prices and generate even higher subscription numbers and revenue streams
10. The younger generation is much more willing to pay for digital subscriptions
11. The best time to start with a digital subscription strategy is now!
Next FIPP Insider Webinar
Besides, our next participation in the FIPP Insider Webinar will take place on the 4th of August 2020 at 3pm cet.
James Hewes will then guide through the Global Digital Subscription Snapshot 2020 Q3 and will talk with York Walterscheid and Caspar Seibert, Head of Digital Marketing at Tagesspiegel, about the go-live of Tagesspiegel Plus and their digital subscription strategies.
Look forward to new insights and best practices and register here.