Focusing on the quality of engagement over driving volume improves subscriber retention at The Economist, reports Alice Brooker at Press Gazette.
Brooker writes, “The news magazine brand, which reports a 93% retention rate for its B2B offering in its latest figures, is pursuing quality over quantity in its approach.
“It is putting a focus on building subscriber habit and engagement and encouraging those on free trials to realise what they’ve got, said Nada Arnot, executive vice president of marketing.
“A number of publishers are shifting away from volume and chasing clicks in an effort to focus on quality original content, including Reach, The Times, Axios, Hearst UK and The Telegraph. It comes amid the decline of third-party cookies, with a focus on first-party data, and the rise of AI answers in response to search queries.
“‘Five to seven years ago, we decided to take ownership over our relationships with our subscribers,’ said Arnot, with all subscription information moving in-house at the newsbrand rather than through a third-party vendor. ‘It was at that point that our retention efforts really started dialling up.’ The Economist now has a subscription retention team of around 15 people.”
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