A decade after the shift to digital publishing, media companies have still not really figured out how to convert to a reader-revenue model, as opposed to a print subscription and advertising-based one. From his experience working at The Boston Globe and McClatchy, Damon Kiesow wrote a detailed guide to assist publishers in the technical and strategic challenges to achieve this.
Why it matters:
Launching a paywall is easy. Pivoting a whole business from an advertising-centric mindset to one focused on reader revenue is not. Fundamental changes and a deeper understanding of audience are needed to develop the culture, technology and skills to successfully transition to reader membership and subscription revenue programs. Kiesow’s report addresses what it really means to shift to reader revenue — which really means shifting to a focus on trust, loyalty and data.
What publishers need to do better:
- Make reader revenue the top objective that the business is aligned around.
- Data collection and analysis that drives business decisions.
- Eliminate internal silos and streamline operations, to reduce time to market for new products.
- Provide a better user experience online and in mobile.
- Test, measure and market subscription program performance.
- Establish a reader-first culture within the organisation.