This year I have had several conversations about converting free media products to paid ones.  This cyclical topic is timely; AI is changing the way we search online, website traffic is dropping and media companies are in search of new revenue streams.

For the first time, controlled magazines, newsletters, website access and more are all being considered.  But, rather than a wholesale shift to switching from a free to paid magazine (so tough right now)  some are testing a hybrid controlled-paid tiered subscription/membership model. 

The most successful conversions have a very loyal audience, offer unique content, or are large, brand-name publishers like NY Times.  The latter has found growth promoting “all access family” for only $1 a week, for a year.

There is usually extra content for paid readers, in addition to the paid subscription.  Some examples of exclusive content for paid subscribers are:

• White papers and research
• Exclusive webinars and educational materials
• Media including magazines, newsletters, newspapers
• Website access
• Membership and event discounts

Some brands are offering low entry costs to get people to try it out. For example, Digiday has both long and short term offers, while Fast Company only charges $1 for the first month.

There are risks with trying to convert free to paid, such as:   

• Drop in website traffic, with barrier access
• Decline in leads
• Smaller circulation, but possibly more engaged
• Customers have already subscription fatigue
• Brand decline, if these efforts fail

A simple start is to create a free gate on the website.  Then build your strategy and KPI’s, measure the traffic changes, see the site visitor responses, and start training your users that site access has value.

This shift will take time and planning, but done thoughtfully, it can be successful.

The journey continues. Cindy

P.S.  I created a .pdf about gated content with ideas you can use now for guidance to setting up these changes.  Message or comment below, and I will send you a copy.