Categories: OLD Media Moves

A more product-led approach at The Economist

Deep Bagchee

Meg Carter of InPublishing wrote about The Economist chief product officer Deep Bagchee and his product-led approach.

Carter writes, “One example of this in action is what’s been done around customer retention by one of the cross-functional product teams over the past twelve months. Informed by data, they came up with a retention plan with a number of components.

“‘We removed our introductory 12 issues for 12 pounds offers which, though it brought in a lot of people didn’t retain them well, and went up in price, replacing it with a simple 50% off quarter one proposition,’ Bagchee explains.

“Also, when Covid-19 hit, it acted quickly to overcome any short-term Covid-related print distribution issues by offering all new subscribers the option to subscribe to either print-and-digital or digital-only. Those already subscribing to print-only, meanwhile, had their subscriptions upgraded at their next renewal date – to either print-and-digital or digital-only.

“Work was also done to ‘increase the cadence’ of customer communications – especially during new subscribers’ onboarding journey. And a new raft of subscriber-only events was developed, including a Bill Gates webinar on Covid-19 and vaccines – all of which attracted an audience of tens of thousands.”

Read more here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.

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