Two decades ago, the internet was still in its first steps, while paid subscriptions to magazines dominated the marketing environment. Nowadays, most readers don’t subscribe for a simple reason: free content is everywhere. So, publishers have to enhance their strategies to reach their public and monetize their content.
Thanks to the internet’s growth and the subsequent proliferation of low-quality publications, users are more demanding with what they read. But, believe it or not, this is an advantage for authors.
According to Reuters, although subscriptions have changed dramatically, paywalls and freemium offers are on the rise. So if you understand why netizens reject subscriptions, you can monetize your content effectively.
The Main Problems for Publishers
Introducing paid material to the public when there are so many options is a challenge. Now, writers have to provide more irresistible offers to catch the audience attention and retain it.
In the article mentioned above, Reuters explains that most of the revenues come from a reduced percentage of content consumers, the ones who are most attached to the brand. Therefore, publishers must understand their audience beforehand.
Three Determinant Factors
Many marketers disagree as to what factors can attract or lose subscriptions. However, all agree on the following problems:
- Lack of brand awareness. Before subscribing, readers want to know the publishers and, above all, the content they offer. Consequently, they distrust immediate subscription offers.
- Inconsistency or saturation. Subscribers neither want to get bombarded with tons of texts nor receive one sporadic article for a high price; they want value for money. The amount of material delivered must fit the necessities of the target.
- Overpricing. If the quantity or quality don’t seem consistent with its fees, subscribers and prospects will leave inevitably.
Estimating the correct quantity of texts for every single person is impossible. Nevertheless, with a paywall based on micropayments, they can decide how many publications they want to digest. With this model, publishers can improve their offers without saturating nor overcharging their consumers.
Why Subscribers Stick to Paid Content
Although there’s more availability to publishers material on the internet, the public for paid articles and newsletters keep rising. In fact, even the great newspapers, such as The Times, The Economist, and The Guardian, rely on this model.
And more consumers stay with paid subscriptions because of:
- Quality. No secret, many netizens are willing to pay for high-quality works that are not available or are difficult to find in the digital environment.
- Additional privileges. Some readers don’t hesitate to spend a bit more to avoid pop-ups and undesired ads and to receive extra material.
- Support. When the work is excellent, but the brand needs help, whether to grow or sustain, subscribers show themselves willing to make contributions.
Nowadays, the public is more severe with creative work but more rewarding with high-quality publications. With an optimized paywall, you can provide your audience with the right amount of content. And with micropayments, they can support you voluntarily while gaining their additional privileges. Thus, you can monetize through every single piece and with every single reader.