View
440
Download
0
Tags:
Embed Size (px)
DESCRIPTION
Reynolds Fellow Matt Sokoloff discusses how to market paid content and shares paid content best practices at #2013MegaConf.
Citation preview
University of Missouri
Missouri School of Journalism
Paid ContentKey Executives Mega-Conference
Matt Sokoloff, Reynolds Fellow@MattSokoloff
University of Missouri
Missouri School of Journalism
Paid Content Paid Content for Local for Local
NewsNews
Building a Building a Paid Content Paid Content
ProductProduct
Marketing Marketing Your ProductYour Product
University of Missouri
Missouri School of Journalism
•In 2012 nearly half of all newspapers surveyed charge users for content.
Paid Content Model Adoption
Source: 2012 Daily Newspaper Publishers Annual Index, Donald W. Reynolds Journalism
Institute
University of Missouri
Missouri School of Journalism
•Early estimates show that more than half of the nations dailies require users to pay for content as of today
Tipping Point for Paid Content
University of Missouri
Missouri School of Journalism
Smaller Papers Lead the Way
Source: 2012 Daily Newspaper Publishers Annual Index, Donald W. Reynolds Journalism Institute
University of Missouri
Missouri School of Journalism
Most NP Groups Adopt Paid Models
University of Missouri
Missouri School of Journalism
Setting the Meter
Source: 2012 Daily Newspaper Publishers Annual Index, Donald W. Reynolds Journalism Institute
University of Missouri
Missouri School of Journalism
No Revenue Impact
•Page Views down but sometimes recover
•Loss usually just remnant inventory
•Shifting sold inventory may have been required
•Subscriptions easily make up any difference
•No ones reported net revenue loss
University of Missouri
Missouri School of Journalism
Success?
•Immediate revenue needs
•Small percentage of active online users are now subscribers (print)
•Necessary but not sufficient
•A digital paid content model doesn’t mean you have a digital product
University of Missouri
Missouri School of Journalism
Paid Content Paid Content for Local for Local
NewsNews
Building a Building a Paid Content Paid Content
ProductProduct
Marketing Marketing Your ProductYour Product
University of Missouri
Missouri School of Journalism
Build a Digital Product
•Solve a problem and/or provide a real benefit for your users
•Need to sell more than “All Access”
•Designate and remind users that your content is unique
•Your newsroom isn’t representative
•Traffic doesn’t mean users will pay for it
University of Missouri
Missouri School of Journalism
What’s behind the wall?•About 70% of surveyed sites are
charging for breaking news or wire stories
•Better off putting less behind the wall but setting the meter lower
•Less than 15% charge for tablet or mobile products
•People are more used to paying for tablet and mobile products
Source: 2012 Daily Newspaper Publishers Annual Index, Donald W. Reynolds Journalism Institute
University of Missouri
Missouri School of Journalism
Change from Page Views to Quality
•You may have lots of people on your site but they might be the wrong people
•Goals in the newsroom need to change
•Build franchises and sub-brands that you can monetize
University of Missouri
Missouri School of Journalism
Paid Content MatrixC
om
mod
ity
Pre
miu
m
Low HighInterest
Un
iqu
en
ess
Breaking News
Event Listings
Watchdog
Photo Galleries
Obits
Community News
WeatherTV Listings
Columnist B
Columnist A
Classifieds
Local In Depth Coverage Local
Sports
Wire Stories
University of Missouri
Missouri School of Journalism
Examples
University of Missouri
Missouri School of Journalism
SiriusXM
University of Missouri
Missouri School of Journalism
SiriusXM•Paywall at zero
•Free Trials to get you hooked
•Premium/Exclusive content
•Commodity content with a benefit
•Tiered Pricing
•Aggressive marketing
•Understand the lifetime value of a subscriber
University of Missouri
Missouri School of Journalism
Hulu+
•Show/Brand specific
•Other sites offer recent shows for free
•Hulu+
•Entire season
•All Devices
•Original Programing
University of Missouri
Missouri School of Journalism
Hulu+C
om
mod
ity
Pre
miu
m
Low HighInterest
Un
iqu
en
ess
All Episodes
HD
OriginalPrograming
Recent Episodes
Devices
University of Missouri
Missouri School of Journalism
Consumer Reports
University of Missouri
Missouri School of Journalism
Consumer ReportsC
om
mod
ity
Pre
miu
m
Low HighInterest
Un
iqu
en
ess
Expert ReviewsConsumer
News
Ratings Guides
University of Missouri
Missouri School of Journalism
Subscription Based Sites
•ESPN Insider
•Netflix
•eHarmony
•WeightWatchers
•DailyBurn
University of Missouri
Missouri School of Journalism
Paid Content Paid Content for Local for Local
NewsNews
Building a Building a Paid Content Paid Content
ProductProduct
Marketing Marketing Your ProductYour Product
University of Missouri
Missouri School of Journalism
Tiered Approach — Chicago Tribune
• Non-subscriber - Commodity content
• DigitalLITE (free registration) - Metered premium content
• DigitalPlus (paid) - Access to all premium content, apps, achieves, e-books, events
• Built a funnel to paid subscriber
• Capturing e-mail on prospects
University of Missouri
Missouri School of Journalism
E-Commerce Funnel
Purchase
Awareness
Consideration
Intent
Branding/Prospecting
University of Missouri
Missouri School of Journalism
Awareness• Drive to landing page
• On site messaging
• Icons for exclusive content
• Designating paid users in comments
• Promote content behind the Pay Wall
• Paid online ads (monitor CPA)
University of Missouri
Missouri School of Journalism
Consideration• Drive to checkout
• Expressed interest...convince them to purchase
• Landing page MUST match how they got there
• Ad creative
• Content type
• Online Display Re-marketing
University of Missouri
Missouri School of Journalism
Landing Page Optimization
•Tease content
•Benefits clearly explained
•Signup ATF
•No navigation
•A/B test and track everything
University of Missouri
Missouri School of Journalism
Intent• Drive to purchase
• Make it easy
• Capture e-mail asap
• Test & Track cart abandonment
• Re-marketing and e-mail follow up
• Lowest CPA
• Remind them what they are getting
• Only as good as the weakest link
University of Missouri
Missouri School of Journalism
Smart Prospecting
•Drive new users to your site who will eventually subscribe
•Market to lookalike purchasers
•Find users who don’t regularly visit
•Track everything
•Determine the best entry point
University of Missouri
Missouri School of Journalism
Metrics to track
•Lifetime Value of a Subscriber (LTV) — Crucial number to determine how much money you can spend acquiring members
•Cost Per Acquisition (CPA) — Ensure that CPA stays below LTV.
University of Missouri
Missouri School of Journalism
Metrics Cont.•Conversion Rate
•Overall, landing page, traffic source, marketing campaign, demographic
•Useful for
•Setting newsroom and marketing goals
•Understanding what content to put behind the wall
University of Missouri
Missouri School of Journalism
Invest in Technology, People & Ideas
• Technology — Build, buy or partner to test, track and manage the relationship with your customers
• People — Invest in people internally and externally who are focused on growing your digital subscription products
• Ideas — The fourth most serious threat to newspapers according to publishers is lack of resources to develop new products (only after declining ad revenue, circulation, print readership)
University of Missouri
Missouri School of Journalism
RJI’s Efforts
•Marketing Case Studies
•Paid Content Best Practices and Guides
•Paid Content Research and Database
•RJIOnline.org