Earlier this week, we hosted the first Cxense Digital Publishing Innovators Dinner in Miami, Florida. During the evening following Digiday's Digital Publishing Summit in Key Biscayne, 35 executives from leading American publishers such as Condé Nast, Boston Globe Media, Gannett, Meredith, VOX, and Fusion Media Group joined us to discuss the current trends and most pressing challenges of the industry.
We asked them which challenges a publisher needs to overcome in order to build a sustainable subscription business. Here's what got mentioned most:
- Find ways to balance subscription and ad revenues, growing subscriptions should not damage ad intakes
- Build a unique brand that your readers want to be a part of, create a feeling of value and membership
- Have a plan for churn prevention, for sustainable growth you need to constantly prove your value to subscribers
- Partner with someone who has the AI capabilities to forecast which readers are likely to become subscribers and create a personalized customer journey to convert them
A big thank you to our guests for the engaged discussions and new insights.
"It was fascinating to hear how publishers are building a subscription business in very different ways. There is no one-size-fits-all solution, but one thing they have in common is that understanding readers' interests and motivations is a key capability. I believe there is a lot of untapped potential in monetizing audience insight for growing subscription revenues.", summarizes Christian Printzell Halvorsen, Cxense CEO.
We enjoyed the evening so much that we decided to turn this into a series of events in different places around the globe - so stay tuned, maybe the Cxense Digital Publishing Innovators Dinner is coming to a location close to you soon.
Want to learn more about Cxense Conersion Engine, our all-in-one solution for publishers to grow recurring revenue from digital subscriptions?