Boost Black Friday Revenue Without Devaluing Your Subscriptions
Skip deep discounts on Black Friday; instead, offer time-based promotions like three months for the price of one to encourage trials without lowering perceived value. Focus on annual plans and a tiered upgrade strategy to build loyalty and reduce churn.
This podcast (video version below) discusses a strategic approach for publishers considering Black Friday promotions without eroding their subscription value. Here are key takeaways:
Avoid Deep Discounts: Traditional large discounts, like 50% or more, often devalue your content and create “sticker shock” at renewal, increasing churn. Instead, consider moderate offers or add value in other ways.
Sell Time, Not Price: Rather than slashing prices, offer time-based promotions, such as three months for the price of one. This encourages trial without implying lower content value.
Encourage Annual Subscriptions: Annual subscriptions tend to have lower churn than monthly ones. If a discount is necessary, apply it to annual plans only. This gives users more time to build loyalty before renewal.
Use a “Leveling Up” Strategy: Think about subscription as a progression. Start with an affordable plan and gradually offer upgrades, such as ad-free options, access to premium content, or even a higher donor level for supporters.
Referral Promotions: Offer subscribers a three-month gift subscription to share with a friend. This brings in qualified leads and grows your newsletter list without heavy discounts.
Test Simple Offers: A well-designed subscribe page with a clear offer, such as “First 3 months for the price of 1” alongside an annual option with a small discount, can increase conversions.
Ultimately, structuring your promotions around time and experience upgrades rather than steep discounts can protect your brand and reduce churn, building a loyal subscriber base.
Listen to this audio podcast here: paywallpodcast.com.
Watch the videocast
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Want to learn more about growing your audience and converting subscribers with your paywall? Get in touch with Pete.
