Looking to Monetize your Digital Magazines?

 

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Most magazine publishers find digital strategies challenging. It’s understandable; the luster of the launch of the iPad, alongside the early expectations that tablets would be the magazine industry’s panacea for declining print sales, has long since worn off, best illustrated by Apple’s retiring of the Newsstand in 2015.

So, what now? The simple answer is that while there is no “one size fits all” solution for every magazine publisher, there are some basic rules of thumb that every publisher can follow, as well as monetization models that work better for certain publishers.

Free content is ubiquitous. Do not try to package and monetize content that a reader can very easily find elsewhere for free. This only serves to devalue your brand.

Keep things simple. The success of media service providers like Netflix and Spotify is in no small part due to the fact they have very simple, easy-to-understand pricing models that give the user a clear idea of what they’re paying and what they’re getting. An overcomplicated subscription model helps no one.

Make sure your marketing is reflecting your development and strategy. Be as loud as possible about your digital strategy and aim to cross-fertilize different types of audiences in both print and digital to get a better idea of their idiosyncrasies.

Use push notifications with your magazine app sparingly. If users are bombarded with redundant push notifications while on their mobile devices, they’ll simply ignore them in the future.

Use multiple media channels, also commonly called “omni-channel marketing”. Make sure that when a new edition goes live, all your social media channels, as well as traditional channels like your website, are all singing the same song.

Become acquainted with App Store Optimization or “ASO”, as it is more commonly referred to. This is the app store equivalent to SEO and allows you to gain maximum possible exposure. We’ve written a small piece on how to best exploit ASO here.

You can read YUDU‘s full ‘Guide to Monetizing Digital Magazines’ here.

To speak to one of the team about the next generation of magazine apps, get in touch with us today.

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