The Times, They are a-Changin!
Publishers can no longer expect consumers to buy a subscription to one format, such as print and then to pay again for another format, such as iPad or web. The integration of paywalls into digital content are fast becoming the norm, meaning it is vital for publishers must have a joined up strategy when it comes to monetising their digital content through eCommerce.
Pivotal to this strategy must be a centralised entitlement database complimented by a centralised payment account, or eWallet. Once in place, the publisher has a choice of product bundling options offering various permutations of content. This could include print only subscriptions, digital only subscriptions including iPad, mobile and Connected-TV content or a combination of the two.
There are reasonable suggestions why publishers would offer digital version of content for free to existing print subscribers to encourage customer retention and minimise churn; added content for existing customers is always an effective avenue to improve brand loyalty.
However, diversifying into different markets through monetising digital content, driving ARPU and thereby developing new revenue streams hits the commercial bottom line considerations of publishers. Utilising robust eCommerce payment solutions with cross payment integration gives publishers the tool to accept cross platform payments and the ability to interact with customers across multiple channels effortlessly.
Having a centralised eCommerce platform in place which handles content entitlement as well as payment transactions and customer accounts, publishers would be in the enviable position of placing their customers just one-click away from any other subscription or service within their catalogue. Together with the opportunity to offer linked product discounts through the platform means that consumers have a greater sense of perceived value within the product and are thereby more likely to remain brand advocates for the publisher.
MPP Global’s eCommerce product suite offers the same cross platform services to drive the monetisation of your content, digital or otherwise.