Monday, February 11, 2013

Five ways media companies can build paywalls around people instead of content

paidcontent reporting:
With a few exceptions, the paywalls and subscription plans that have been erected by hundreds of newspapers and other publications over the past year share one quality — namely, they ask readers to pay a single amount for everything that is published, regardless of what those readers are interested in. What else could these publications do? Here’s one suggestion: Why not monetize individual writers? Doing do could build stronger relationships with readers that would create more long-term value, and possibly prevent some star writers from going the Andrew Sullivan route.
This might not be easy to do — especially since many media outlets seem to have their hearts (and wallets) set on paywalls as a solution — but the industry is in such dire straits at this point that almost any reasonable idea probably shouldn’t be ruled out. Some publications are betting on sponsored content, some are relying on real-world events and others are looking at affiliate links or “brand journalism.” Why not personal paywalls? (Note: We’re going to be talking about alternative monetization strategies at our paidContent Live conference in New York on April 17).

Why personal paywalls? Getting to know readers

I’ve tried to argue in the past that one of the biggest weaknesses of traditional paywalls or subscription plans is the undifferentiated quality they bring to a newspaper’s content: everyone hits the same wall and is asked to pay the same amount, regardless of their interests. This reinforces one of the overall weaknesses many traditional publishers have, which is that they know virtually nothing about their readers — or at least not enough to take advantage of that knowledge in any meaningful way. They are about as personalized as a street-corner newspaper box.
This is important because advertisers in particular are looking for personalized targeting, which is one of the reasons they are looking to new providers such as Facebook and Twitter for their business...
...2) Create new forms of specialized content:
3) Host live events featuring your writers:
5) Provide access to your writers’ expertise:

Offer your core readers more, not less

http://paidcontent.org/2013/02/08/five-ways-media-companies-can-build-paywalls-around-people-instead-of-content/ 

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