Benefits of smart Paywalls
Most publishers are already using paywalls to diversify their revenues. Digital subscriptions are becoming more and more important in the mix, as advertising revenue and print subscriptions are declining. For publishers, the use of paywalls is a crucial factor in converting readers to subscribers. However, there are significant performance differences between a simple paywall, which is raised equally for all readers, and a smart paywall. In this post, we give you an overview of the benefits of smart paywalls.
How to successfully convert readers into subscribers with smart paywalls
As with any product sales strategy, simply asking users to buy is not enough. The product must be made palatable to the potential buyer and the value of the product needs to be communicated.
Therefore, publishers should not put all content behind a payment barrier and simply wait for readers to immediately buy a subscription. After all, readers could previously access all content for free.
The path from a reader to a potential and then loyal subscriber is through building a direct relationship with the reader. Personalized communication, offers, and reading recommendations are key for a successful paywall strategy and to enable the development of readers into subscribers.
What is the definition of a smart paywall?
In contrast to non-distinctive payment barriers, smart paywalls are aimed at individual readers and enable the publisher to build a relationship with them through personalized communication. Smart paywalls know where the reader is located on the customer journey and whether the reader is ready to subscribe. The right offer will be displayed to the reader at the right time. With certain actions, an anonymous reader is converted into a subscriber and the bond with the publisher is thus strengthened.
The benefit of smart paywalls over payment barriers, which target all readers with the same message, is obvious: personalization and the further development of readers into potential subscribers.
We summarize the benefits of smart paywalls for publishers in this infographic:
The most important factor in a paywall strategy is to establish a direct relationship with your readers. Personalized offers, communication, and recommendations are key for a successful paywall strategy which develops readers into subscribers.
Smart paywalls support publishers in personalization and enable you to display the right offers when the reader is ready for a subscription.
Start engaging your readers and develop them into subscribers now!