With the advent of the Internet, traditional media like print has struggled to survive. One of the ways for publications to boost revenue is the paywall — content that’s only available for subscription members.
As with all paid things, there was an outcry when media outlets like The New York Times and The Washington Post started implementing paywalls. Readers were understandably upset when news that used to be free was now hidden behind a subscription-only barrier. On the other hand, the expected consumer outcry was a small price to pay if these pillars of print journalism were to survive in the Internet age.
However, this doesn’t mean that premium models are necessary to stay relevant. There are plenty of tactics that media companies can utilize simply by optimizing their content, or making full use of their traffic data.
Bill Ammerman, author of The Invisible Brand: Marketing in the Age of Automation, Big Data, and Machine Learning, outlines three such strategies:
- Increasing traffic to offset revenue loss
- Optimizing user data collection
- Knowing more about individual readers
For an in-depth explanation of these pointers, head on over to CEO World.