How Investor’s Biz Daily uses reader data to launch new products
Max Willens of Digiday writes about how Investor’s Business Daily uses data about its readers to launch new products.
Willens writes, “Investor’s Business Daily is mining data from its logged-in readers to develop high-priced products for them.
“While IBD routinely ran focus groups and surveyed its subscriber base to figure out how to serve its audience, it realized it could get more information about current and would-be subscribers from content on its website and mobile app. Two mobile products IBD launched last year are already responsible for eight-figure revenue streams, and two more products are arriving later this year.
“‘We’re going to do what the data tells us,’ IBD president Jerry Ferrara said. ‘The majority of our users come several times a day to the site and the app. And because we’re subscription-based, we’re able to learn a little bit more about our customers.’
“IBD got more data about its readers by increasing the amount of content it published, to around 50 pieces per day, optimizing what it hid behind its paywall, and reading signals from readers.”
Read more here.