Convert news junkies with premiยญum experiences.
As a seasoned PR proยญfesยญsionยญal, I depend on keepยญing up with the news. I would pay for access to a news siteโฆ if the news site could give me what I want.
This artยญicle will demonยญstrate just how many ways a news pubยญlishยญer can conยญvert news junkiesโโโwithout resortยญing to hidยญing news journยญalยญism behind payยญwalls.
Here we go:
Why Traditional Paywalls Fail
Many traยญdiยญtionยญal news busiยญnesses are struggling.
Their anaยญlogue busiยญness modยญels are foldยญing while they desยญperยญately strive to find digitยญal replaceยญments. The go-to soluยญtion for most traยญdiยญtionยญal news busiยญnesses are to place their best editยญorยญiยญal work behind paywalls.
However, these modยญels arenโt being sucยญcessยญful.
And itโs quite obviยญous why.
Itโs the online value reversal where todayโs news conยญsumers think difยญferยญently about news.
Modern news conยญsumers underยญstand that their attenยญtion is valuยญable and that itโs being monยญetยญised through advertยญising and behaยญviยญourยญal data trading.
The Business Model of Spotify
The Swedish streamยญing platยญform Spotify illusยญtrates the online value reversal perfectly:
While listenยญing to Spotifyโs entire music libยญrary is free, you must pay for its premiยญum serยญvice to elimยญinยญate annoyยญing comยญmerยญcial breaks and improve audio quality.
On Spotify, users donโt pay for music.
They pay for a premiยญum experience.
The baseline here is quid pro quo: Spotify must abstain from playยญing ads for payยญing cusยญtomยญers. Thatโs non-negotiable.
Traditional news busiยญnesses must start thinkยญing the same way. News junkies donโt pay for news the way music lovยญers donโt pay for music. So, what do they pay for?
Why should I pay twice for news? Iโm already donatยญing my attention.
Learn more: How To Convert News Junkies
How To Convert News Junkies
The answer to how to conยญvert news junkies is simpleโโโinstead of selling news, traยญdiยญtionยญal news media must start selling premiยญum news experยญiยญences.
Examples of Premium-Only Features
What types of premiยญum-only news experยญiยญences could potenยญtially attract news junkies?
The value proยญposยญiยญtion could include some (or all!) of the folยญlowยญing feaยญtures for premiยญum-only news consumers:
And the list goes on.
The point should be clear: None of the premiยญum-only feaยญtures includes readยญing payยญwalled articles.
And thereโs more.
Examples of Business-Only Features
Many brands love news. Theyโre news junkies, too. As a PR proยญfesยญsionยญal, I should know. The value of B2B premiยญum subยญscripยญtions could be substantial.
Here are a few examples of a betยญter news experยญiยญence for busiยญness accounts:
Learn more: How To Convert News Junkies
The News Junkie
Iโm a news junkie.
Itโs not weird; Iโm a pasยญsionยญate PR proยญfesยญsionยญal with over two decยญades of experยญiยญence, Iโm marยญried to a nationยญal news anchor, and Iโve been fasยญcinยญated by the news for as long as I can remember.
When it comes to news, Iโm a conยญtent diver.
Iโd pay for news if a news outยญlet offered me a stelยญlar news experยญiยญence. The news? If it was only about the news, I could always get them in exchange for my attenยญtion elsewhere.
When I listen to music, I expect the serยญvice proยญvider to let me choose the music I listen to. The same goes for news. In a digitยญal-first world, the editยญorยญiยญal gateยญkeepยญer funcยญtion doesยญnโt add value; it detracts.
I underยญstand this hurts the feelยญings of news editยญors everyยญwhere, but their emoยญtionยญal states are theirs alone. I expect my premiยญum news source to have โall the news,โ just as my streamยญing serยญvice has โall the music.โ
Itโs nice if you have fancy anaยญlysts, columยญnists, and writers. But for the actuยญal news, Iโd settle for the basicsโโโcorยญrectยญness and objectivยญity. (Which, by the way, seems to be a tall order in and of itself these days.)
The kickยญer here is that non-news junkies outยญnumยญber us, the real news junkies, ten to one. But it doesยญnโt matter.
Weโre not lurkยญers (90%), weโre conยญtribยญutยญors (9%).
Most importยญantly, at the end of a news cycle, real news junkies are the only ones who are potenยญtial conยญverts anyยญway. And there are enough of us to fuel healthy journยญalยญism for everyone.
Learn more: How To Convert News Junkies
The Engagement Pyramid
The 1% rule of online engageยญment was mainly an urbยญan legend on the interยญnet. However, a peer-reviewed paper from 2014 conยญfirmed the 1% rule of thumb. 1Trevor van Mierlo. (2014). The 1% Rule in Four Digital Health Social Networks: An Observational Study. Journal of Medical Internet Research, 16(2), e33โโโe33. โฆ Continue readยญing
Active pubยญlics disยญtribยญute themยญselves in a way proven sciยญenยญtificยญally by sociยญoloยญgistsโโโlong before the interยญnet and social media emerged.
The engageยญment pyrยญamยญid divides pubยญlics into three disยญtinct groups:
When studyยญing interยญnet forยญums speยญcificยญally, itโs not uncomยญmon to find that 90% of users have nevยญer posยญted (lurkยญers), 9% are adding only to existยญing topยญics and threads (conยญtribยญutยญors), and 1% are actยญively startยญing new subยญjects and threads (creยญatยญors).
The engageยญment pyrยญamยญid is someยญtimes called the 1% rule or the 90โ9โ1 principle.
โThe 90โ9โ1 prinยญciple and Zipfโs Law both effectยญively clasยญsiยญfy memยญbers in online supยญport groups, with the Zipf disยญtriยญbuยญtion accountยญing for 98.6% of the variยญance.โ
Source: Internet Interventions 2Carron-Arthur, B., Cunningham, J., & Griffiths, K. (2014). Describing the disยญtriยญbuยญtion of engageยญment in an Internet supยญport group by post freยญquency: A comยญparยญisยญon of the 90โ9โ1 Principle and โฆ Continue readยญing
Learn more: The Engagement Pyramid (The 90โ9โ1 Principle)
The Future of Online News
Why are journยญalยญists so slow to adapt?
Most news pubยญlishยญers are โhomeschooledโ in traยญdiยญtionยญal pubยญlishยญing. They havenโt been exposed to high-level online busiยญness modยญels in highly comยญpetยญitยญive areas like eโcommerce, fashยญion, or enterยญprise software.
News corยญporยญaยญtions are not accusยญtomed to givยญing their readยญers any influยญence over their news experยญiยญence, nor are they willยญing to grant super-users (โnews junkiesโ) any extra favours. This has got to change.
Online busiยญness modยญels seem proยญvocยญatยญive for most traยญdiยญtionยญal news corยญporยญaยญtions. Theyโve been enjoyยญing the traยญdiยญtionยญal role of havยญing passยญive news consumers.
Theyโre unwillยญing to sacยญriยญfice their holiยญest of cowsโโโtheir gateยญkeepยญer function.
THANKS FOR READING.
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Annotations
1 | Trevor van Mierlo. (2014). The 1% Rule in Four Digital Health Social Networks: An Observational Study. Journal of Medical Internet Research, 16(2), e33โโโe33. https://โdoiโ.org/โ1โ0โ.โ2โ1โ9โ6โ/โjโmโiโrโ.โ2โ966 |
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2 | Carron-Arthur, B., Cunningham, J., & Griffiths, K. (2014). Describing the disยญtriยญbuยญtion of engageยญment in an Internet supยญport group by post freยญquency: A comยญparยญisยญon of the 90โ9โ1 Principle and Zipfโs Law. Internet Interventions, 1, 165โโโ168. https://โdoiโ.org/โ1โ0โ.โ1โ0โ1โ6โ/โJโ.โIโNโVโEโNโTโ.โ2โ0โ1โ4โ.โ0โ9โ.โ003 |