How can publishers formulate pricing strategies to both acquire new customers and retain existing ones?
He writes that there aren’t straightforward answers, but there are some straightforward principles to implement:
Pick the Right Competitors
Don’t use Netflix as a benchmark if you’re a local news product. Know who your competitors are and benchmark accordingly.
Use the Right Messaging
Do your research and discover what your subscribers care about. Then, adjust the way you talk about (and offer) pricing.
Read on for more principles.
If you’re asking what exactly the creator economy is, you’re not alone.
“Even proponents of the so-called ‘creator economy,’ the lattice of new platforms and tools meant to serve creators, can’t quite agree on what the term means or whom it includes.”
Even if we can’t pin-point the definition, Kyle Chayka thinks we should admit that the creator economy is still highly reliant on big-tech:
“Participants are still precarious workers, relying on the whims of corporations for their livelihoods.”
This New Yorker article is worth a read.
Discovered via Raisin Bread.
Byrne Hobart writes to convince readers of this (new) truth: “newsletters are increasingly able to move stocks.”
From examples involving Facebook advertising to hard data and economic models, he makes a persuasive case for the financial impact of newsletters.
Don’t miss the Twitter conversation that ensued.
Spencer Bokat-Lindell’s opinion piece on the potential impact of paid newsletter subscriptions on traditional media captures the events that prompted many journalists to become independent newsletter publishers and breaks down the arguments for and against the movement’s ability to influence democracy.
My favorite line:
“But perhaps the most valuable function of the paid newsletter is to remind people that journalism costs money.”
You know those articles that you have to really spend some time with to fully absorb their value? This is one of them.
Glen Allsopp examines over 15 different newsletters, explains why their business models work, and breaks down how he’d monetize in different situations.
Bookmark this link for when you’re ready to spend time discovering if these models could work for you.
Ioana Dulcu makes the case for programmatic native ads in newsletters. Essentially, it’s AI assisted native ads, which should combine native ads (ad content that aligns with editorial content) and programmatic placement (using an algorithm to show people who’ve clicked similar ads in the past an ad they’re likely to like).
Publishers would place code into their newsletter templates just once, and then let an ad server automatically show relevant ads to subscribers.
I’m skeptical. Especially considering the source sells this service.
If you’re thinking of monetizing, this practical 4-step process for forecasting opportunity for membership revenue could help:
Step 1 Calculate total addressable audience
Step 2 Estimate monthly unique users and monthly site visits
Step 3 Estimate newsletter subscribers
Step 4 Set targets to convert newsletter subscribers to paying members
Discovered via Publisher Weekly.
Related: Does your subscriber landing page need help? Check out these 7 tips designed to increase subscribers.
NFT’s (non-fungible tokens) are like the trading cards of the digital world. Someone can create something digitally (gifs, articles, etc.), and sell them as NFTs.
Media companies have made some money this way selling cover art and such, but, for the first time, a newsletter creator proved the concept that NFTs could support a small media company.
Instead of the standard paid subscription approach, NFT buyers were given tokens that gave them access to exclusive membership content.
Discovered via Editor and Publisher