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This is the third part of a three part series by Piano Lead Data Scientist Roman Gavuliak that was posted earlier on Piano Media’s blog.
Another question we frequently are asked is, what time frame is best for my meter? For the sake of convenience consider both a weekly and a monthly limit. Data reveals that most web page visitors generally consume more content on a weekly basis than they do on a cumulative monthly basis. This means a stricter weekly limit might impact more (even less regular) readers. The weekly limit also runs a lower risk of losing visitors because free article counts are refreshed every 7 days. On the other hand, the monthly limit imposes more pressure on users because if they deplete their limit too quickly, the waiting time to reset their meter is much longer.
The following summarizes the pros and cons of both limits:
+ More users might hit the paywall if the limit is set correctly
+ Lowers risk of losing users due to a shorter waiting time
+ More flexible, can be adjusted in shorter intervals
– Weekends account for over 28% of all days within the limit
+ Irregular users are less affected
+ Higher pressure for purchase due to a longer waiting time for the meter limit to refresh
As shown, any advantage can also become a disadvantage based on how the limit is set. A metered paywall might seem as one of the easier options (besides hard locking all content) but it needs careful thought. When setting meter limits you should listen to the data rather than to your heart.
With a weekly meter limit, even users that only use up their free articles and leave the site after encountering a request for payment, generate on average many more page views because they read up to their weekly limit. The following chart shows three examples of the average number of paywall hits for users that never paid for two monthly and one weekly titles during a one month period.
To make matters more complicated, there are several issues that haven’t been touched yet (the list is non-exhaustive):
* How will the conversion rate change after the first month or week? Will it ever stabilize?
* How does the price of a subscription affect the conversion rate? What is a reasonable price for a
subscription? How do I bundle my online and print edition?* How will users adjust their behaviour to the paywall over time? Will I have to adjust the limit?
* What is the ideal limit
Do questions like these keep you up at night? Get in touch with us and we’ll be happy to tell you more.
This is the second part of a three part series by Piano Lead Data Scientist Roman Gavuliak that was posted earlier on Piano Media’s blog.
There are multiple options to attain data with Google Analytics among the most popular. However, most relevant Google Analytics metrics (such as page depth) are measured per visit, certain aggregation and approximation must be applied in order to achieve the right result. Therefore estimations based on Google Analytics have several shortcomings; it overestimates the percentage of users who consume less content while underestimating those who consume more.
To eliminate this discrepancy Piano has developed a tool for collecting relevant content consumption data called the Piano bar. Using sophisticated tracking technology Piano compensates for the shortcomings from systems such as Google Analytics. Below is a comparison of how the curve using Piano bar data compares with a curve constructed through approximation from Google Analytics data:
The parameters of the curve shown above vary greatly for different media based on both their content and website structure, yet can be approximated by a single mathematical function. In some media a limit of 11 free articles per month might affect 40% of readers, while 5 monthly articles for a different title might hit only a little above 15%. Despite certainly not revealing the whole story, it allows you to make an informed decision on the limit of free articles in a metered paywall.
This series of three articles that Piano’s Lead Data Scientist Roman Gavuliak wrote in 2014 and is being reposted for the edification of Piano’s current clients and readership.
A metered paywall is one of the most popular options to monetize media website content. The notion seems simple: users can read a predetermined number of articles for free before being asked to pay for more access. Usually only regular users will be impacted; those who visit occasionally will probably never reach their pageview limit.
Where to set the meter limit?
Setting the meter limit is literally the million dollar question. Further, any kind of limit needs to be tied to a particular time period, so instead of one question, there are two:
1. How many free articles?
2. How often should the meter refresh? Daily? Weekly? Monthly?
Choosing the limit
Setting the limit too low means users will reduce their engagement, search for information elsewhere or simply leave. On the other hand, setting the limit too high results in little to no conversion. Naturally limits can be adjusted, but doing so might both confuse users as well as discourage others from implementing a metered paywall. Keep reading