How B2B Media Companies Are Successfully Growing Subscription Revenue
There’s no question that 2018 has seen many publishers make a push to increase revenue from subscriptions and paid content, which many see as a necessity in the face of digital advertising’s many uncertainties. Subscriptions have become the talk of the media industry. Yet most of this talk focuses on upping subscriptions in the consumer publishing space. What often goes overlooked is that many B2B media companies have established substantial revenue streams from paid content and are just as eager as their B2C counterparts to grow this business line.
B2B publishers do face a unique challenge in their paid content efforts. Historically, many, if not most, B2B publishers have offered their content to readers completely free of charge, made possible by the underwriting of advertisers. B2B publishers may need to train their audiences to have new expectations.
Just throwing up paywalls across content that was previously free to access, however, isn’t going to be a long-term strategy for success. Paid content — content people are actually willing to pay for — needs to have a clear value proposition. It needs to help a professional in a specific industry complete their work more efficiently, run their business more effectively, or succeed in their career. And publishers need to be able to directly indicate how their content is useful in that endeavor — or readers aren’t going to pay for it.