The latest FIPP Insider webinar saw FIPP President and CEO, James Hewes, and CEO of World Newsmedia Network, Martha Williams, joined by speakers from Mather Economics and Atlantic Media, in a look at data driven pricing strategies.
The full list of speakers includes:
- James Hewes, President and CEO, FIPP (Host)
- Martha Stewart, CEO of World Newsmedia Network & Author of FIPP Insight Report ‘Paywalls: How to start your subscription strategy’ (Moderator)
- Dr Matt Lindsay, President of Mather Economics
- Sam Rosen, SVP of Growth, The Atlantic
Examining data-driven pricing strategies that grow subscription revenue, the virtual event provides participants with practical tips and insights. Dr Matt Lindsay, President of Mather Economics, introduces a series of datasets that analyse the most important elements of the print and digital subscription strategies, including:
- Evidence of an increase in conversions – and conversion rates – since the onset of the global coronavirus pandemic.
- Surprisingly, unique paywall hits only increased by one per cent during the same period.
- A look at the Average Publisher Conversion Index before and after the Super Bowl, and how this microcosm could indicate a dip in macro subscriber levels after the surge brought about by coronavirus.
- The return on a targeted 10 per cent price increase vs. an across-the-board 10 per cent increase yields 39 per cent more incremental revenue.
- A detailed consideration of elasticity-driven renewal prices, as well as customer acquisition and offer price.
- How higher acquisition prices are linked to longer retention, and the influence of additional factors like Credit Card subscribers and higher income subscribers in improving retention.
Sam Rosen, SVP of Growth, The Atlantic, offers his view on the specific lessons learned by The Atlantic around subscriptions revenue with regard to acquisition, retention and pricing best practices:
“We had a fairly traditional subscription model up until September 2019,” says Rosen. “We offered mostly print and digital, or print only, and we had a modest digital-only package where it got you access to the PDF and other small perks. But we knew we had to shift our strategy to get ahead of what no one knew was going to happen in the advertising market…”
When we launched in September it was incredible, we blew all of our expectations out of the water, having developed a fairly complicated and sophisticated model projecting paywall stops, conversion rate by nudge, etc.
The webinar can now be viewed in full below.