By Oscar Carlsson
I’ve recently attended and presented at several publisher conferences during the course of this year.
It’s interesting to see that more and more traditional publishers are finding ways to re-invent themselves and build a sizeable digital revenue stream sometime even surpassing the print advertising revenue. Cint provides solutions to help publishers take the first steps to understanding their audience better. Why is this so important and what are other publishers doing with this data and deeper understanding?
Below are 7 things other companies are doing that might help to boost your digital revenue, if it’s advertising, subscription or new product development.
- The subscription economy
- Understand what triggers your audience to be a paying customer
- Understand price elasticity within your target group
- Tailor subscription models and offers to different parts of your audience.
- Create first party content
- Reach out to your audience and ask them about their view on important topics, important events or the upcoming elections.
- Create news value by creating your own content that is relevant to your readers.
- Tailor content to your audience
- Understand reading behavior and let your readers see the most engaging content for their demographic
- Use psychographic data on your audience to understand which articles are most read within certain demographics, interests groups and profiles to create a more engaging and relevant experience for your readers
- Target advertising
- Based on your audience insights and purchasing intent data target advertising more effectively to allow you to charge more for your advertising inventory.
- Understand who is intending to purchase a new car the next 12 months, understand who is a newly become mother. Sell your premium audience groups for a premium, understand where to advise your advertisers to advertise to find their target groups.
- Advertising efficiency
- Prove to your advertisers how effective their campaigns where
- Start competing for your clients brand building budgets by proving the actual brand lift within the exposed target groups and compare to non-exposed target groups.
- Provide your clients with the right data to justify further investment with you and your audience.
- Understand new trends
- Understand quick movements in your target groups on new ways of consuming media and stay ahead of the game.
- Stay future safe by always having an ear to the audience. They like your brand already, keep them still liking your brand by keeping up to date with the latest trends.
- Product development
- Try new products and concepts with testing prototypes with parts of your audience.
- Run A/B testing on new and existing products to achieve the most engaging content and highest conversion.
- Explore new business opportunities within digital publishing, e-commerce, classifieds. You already have the audience, try new ways of monetizing this.
How to do this?
First step is to build a readership panel with your audience. With Cint Engage you can quickly engage your audience in a panel with minimum effort. Once you feel ready to sending questions to your audience use Cint Access to field your questions. In the meanwhile Cint can help keep your panel engaged and provide an additional revenue stream by offering your readers to participate in online surveys from the world’s leading market research companies.
Cint will continuously build out the profiles on your audience by automatically collecting additional data in survey experiences.
A panel built with Cint is compatible to all other research services and 3rd party data management platforms to combine your audience demographic data with behavioral and advertising data. Either in Cint Engage or in your DMP.
To summarize. The first step is to ask your audience if they are willing to help you create a better product and you will be surprised how willing they are to help out if you just ask!