So you want to run a holiday subscription promotion?
How should you approach it? We dive into a successful Black Friday promo that was recently run and reveal the results. These strategies can apply to all your promotions. Join us to find out what actually worked.
Topic summary
The episode of the Paywall Podcast, provides insights into effective subscription promotion strategies, particularly for Black Friday. Key takeaways include:
- Consumer Preferences: Data from Toolkits.com shows 73% of subscribers are more likely to subscribe with an introductory discount, 76% with a free trial, and 54% if they can access some content for free. Moreover, 60% prefer easier cancellation processes.
- Creating Payment Habits: According to Twipeonline.com, it takes approximately 66 days to form a new habit, emphasizing the need to cultivate a habit of paying for content.
- Price Strategy: Raising subscription prices moderately can effectively increase revenue. For example, a 20% price increase is suggested as manageable for readers.
- Annual vs. Monthly Plans: Annual plans have a higher uptake (71% publishers sold annual plans when discounted), especially among younger audiences who respond well to discounts.
- Case Study – Dominion Post: They implemented a free registration for content access, followed by a promotion for paid subscriptions. This approach converted 4-5% of free registered readers to paying subscribers.
- Promotional Emails: The effectiveness of clear, concise, and visually appealing promotional emails was discussed, using the example of the Dominion Post’s Black Friday promotion.
- Comparison with Other Publishers: The Wall Street Journal’s cleaner and more straightforward promotional strategy was highlighted as a more effective approach.
- Trial Subscriptions: The Salem Reporter’s successful trial subscription model was discussed, where a low-cost introductory offer leads to regular pricing, resulting in high conversion rates.
- Newsletter Strategy: The importance of reliable, engaging newsletters in converting and retaining subscribers was emphasized.
- Upcoming Topics: The next podcast will focus on using Facebook for promotion, completing a series on effective subscription promotion strategies.
The podcast highlights the importance of understanding consumer behavior, the power of trial subscriptions, and the effectiveness of well-crafted promotional materials in increasing subscription revenue.
Listen to this audio podcast here: paywallpodcast.com.
Watch the videocast
Let’s talk paid subscriptions
Want to learn more about growing your audience and converting subscribers with your paywall? Get in touch with Pete.
