Marketing Behind Paid Wall

I was at the 18th Marketing Conference organised by Internet and Mobile Association of India in Mumbai on 12th December 2022. Under mentioned notes are the homework I did before the session, content came from various sources and a story evolved.

3 Key Paid-wall?deployment objectives

A. Diversify your revenue streams -?allows you to?diversify and increase income?but do so?without damaging any existing revenue streams.

• Automobile - Tesla, BMW, Merc - Subscription for speed, heated seats & steering, etc
• OTT - Layers of subscription services?
• Newspapers - Freemium, Hard/Soft/ Dynamic walls - New York Times, The Key, financial express, etc
• Sports - Exclusivity of experience or first views / experience, immersive experience, merchandising - EA Sports & even sporting teams/clubs?
• B2B - Special content, personalised services, event invites, exclusive community, etc
• B2C - Exclusivity, special designs or products, first right to buy/experience, special club status, privileges, etc - Fashion specifically?
• Hotels / Restaurants -?Sticky’s Restaurant?used the platform to offer a special menu with the subscription fees donated to out of work industry professionals in New York. They boosted sales.?
• Influencers - Subscription services to know more about them, personalised responses if you pay more

B. Achieve multiple goals simultaneously?- to?increase engagement,?collect 1st party data?(solving the challenge of the cookieless future and increasing ad-based monetization through targeting) and?personalize a user's experience?

As marketing becomes a more complex one-to-one communication process, companies need to reconsider how the process of using first-party data is incorporated into their campaigns. When it comes to reaching your audience, adding value with segmentation and personalization will remain a key component.

C. Learn about your audience and their behaviours?- having a?data-informed strategy

Customers like to be engaged and entertained, so the best way to create a relationship is to leverage audience data. With the right data-capture and subscriber management tools, highly detailed viewer interaction and engagement data can be passed directly to marketing automation and CRM platforms to build comprehensive profiles, more easily qualify and convert leads, and allow for more effective sales interactions.

Key task at hand - Understand audience behavior, identify key segments, determine the most effective paywall scenarios and measure KPIs.

Some key questions

AUDIENCE

• Understanding your audience and their behaviour?— a critical first step
• Analyze your current paywall; how exactly are you dissatisfied with its performance?
• Study the key segments of your online audience.
• Ensure you have a reliable, complete and quality source of digital analytics data to measure your audience behavior.
• Look at the ways each of your segments serves each of your business models.
• Map out the key steps your audience takes before reaching your goal, such as subscription.
• Establish if there is a link between user engagement and conversion.

STRATEGY

• Setting out an effective strategy — a methodological approach
• Clarify your business models; which ones do you want to develop?
• Consider which business goals you want to achieve for each segment.
• List the KPIs that will determine if you’ve reached your goals.
• Decide which hypothesis you will test to reach your objectives.
• Make sure this test hypothesis is founded on reliable statistics.

MANAGING YOUR STRATEGY

• Pin down precisely how your teams can optimize their strategy
• Identify who will own this subject internally. Does this person have a comprehensive view of the company’s challenges and its different business models?
• Considering your goals and segments, set out which reader scenarios should be implemented.
• Decide if you intend to implement a reference pathway.
• Ensure you document the various tests and their conclusions.