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We’re incredibly proud to report that our average client’s revenue has increased by 39% over the last quarter. That’s partially because we’re working with larger and larger clients, to be sure, but also because our individual clients are deploying their paid content strategies more broadly and optimizing their appeals.
We also took a look at our Top 20 customers by revenue in June to see how they’re faring today. And between June and October, those 20 customers paid content revenues increased by 33% on average.
These data conclusively show that smart publishers start generating paid content revenue early, getting insights under their belt and improving over time. Conversely, sites that wait to adopt a premium media strategy will have to start their learning curve after their competitors do.
What accounts for these dramatic increases? We see our most successful clients adopting several key strategies:
Optimizing their appeals to make them more personal, and to emphasize consumer benefits
Consumers are rooting for their favorite sites. The more they can peek behind the curtain and see who they’re supporting, the more affinity they will have, and the more likely they will be to purchase or subscribe.
Further differentiating the value of premium and non-premium content
Many sites start out trying to charge for content that was previously free, or with premium offerings that aren’t significantly different enough from their free content. As they have seen early successes, savvy publishers are making their free site a lighter and quicker experience for “bouncers” (the majority of traffic who has no particular affinity for the site), while they increase the value of their paid offering to appeal to their “fans” (a site’s repeated and engaged customers).
More effective use of email campaigns and social media to raise awareness amongst potential buyers
In any digital sales effort, using social media and email intelligently is critical; our best performers use their communications to continually underscore the value of both their free and paid offerings.
The tightening of paywalls, and optimization of pricing
Most sites underprice their offerings at first, and create preview periods that are far longer than necessary, creating a free-riding problem even with dedicated fans. As publishers’ paid content strategies mature, we see the most successful ones giving less away for free.
All of us at Tinypass wish our warmest congratulations this holiday season to our publisher base and their successes, and we’re looking forward to powering more savvy digital business models in the future. For more information on the Tinypass Strategy Group, contact David Restrepo at david (at) tinypass.com.