Are you still selling your magazine on one platform? Sure, print magazines smell good and even look good on a coffee table, but the most successful subscription publishers we know are leveraging more than paper to increase profits.
What are they doing exactly? They’re adding a web magazine, back issues and special collections to their magazine offers and are creating an all-access membership that includes both print and web. This allows them to price the web magazine and the all access membership at higher price points than their print editions, causing a significant increase in their average price per order.
They also experience lifts in conversion rates due to the overwhelming value proposition that is created by a web magazine library and special collections. Having collections of archival and curated content, which is often valued at hundreds or thousands of dollars, creates a perfect direct marketing offer that generates more orders at a higher price per order. Factor in conversions and renewals over a five-year period and revenue doubles while profits soar.
What’s driving the doubling?
Unleashing the power of a magazine archive allows a publisher to increase the number of subscriptions sold online at a significantly higher price. For a publisher already generating a substantial print only order volume, the math is incredibly compelling.
We also recommend initiating a high frequency Six Sigma marketing program. This program would be anchored by the digital collections and could produce another 50,000 to 100,000 orders annually depending on the size of the existing database, website traffic levels and email capture rates.
If you’re a legacy publisher with a valuable archive of evergreen content, schedule a free consultation with a member of our consulting team to discuss how we can help you dramatically increase your subscription revenue and profits.