If you make mistakes, donâ€™t worry. Mistakes are lessons in disguise.
In the business of marketing we expect mistakes: they are the dead-ends that indicate a change in direction is needed â€“ and marketing involves constant changes of direction.
Mistakes haemorrhage money, however, so this issue is about minimising them.
The area where the most expensive mistakes are made is the amount we charge for our products. Itâ€™s an easy calculation: if you overlook the opportunity to raise prices by, say, 20 per cent, you overlook a 20 per cent lift in profits. Disaster!
What price should you charge? The question isnâ€™t just about figures. Your price is one of the five variables that have the most effect on the performance of your promotion:
This issue of the Subscriptions Strategy newsletter covers, among other things:
- Raising your subscription rate
- A clever way to raise renewal revenue
- Creating your order page
- Adopting a flexible marketing model
- Example price tests
- The effect of discounting: case study
- Deciding what price to test
- Statistical accuracy: responses per cell
- Free trial cash flow examples
- Free- to paid-for magazine response figures
- How a â€˜bill-meâ€™ option affects response
- How â€˜pretty pricingâ€™ lifts revenue
- Price testing in a recession
- Newsstand titles: cover price vs subscription rate
Subscriptions marketing: confidential information for sale
The Subscriptions Strategy newsletter publishes international case studies of â€˜best practiceâ€™ marketing for the Internet, websites, newsletters, books and magazines etc.
As publishers ourselves, we live or die by results. If a promotion doesn’t work, we lose money. If it works we record the results and use it on our own, and our clientsâ€™ websites and publications.
Every issue of the Subscriptions Strategy newsletter carries examples of successful marketing.
How you benefit by removing risk
As far as we are concerned, our testing means the difficult and costly part is over. As far as you are concerned, you can benefit from this tried and tested knowledge because the risk of failure has been removed and profitability is assured.
You will also find Subscriptions Strategy a great resource for training staff in all aspects of subscriptions marketing.
Please click on the link below for instant access to your subscriptions marketing starter pack. You receive:
1. 20% off the full price of an annual 6-issue subscription to the digital edition of the Subscriptions Strategy newsletter (a saving of Â£40)
2. Subscription Marketing Workbook worth Â£33: 15 Subscriptions Marketing Innovations Every Publisher Should Know
3. Subscriptions marketing ‘rapid update’: three special Subscriptions Strategy reports worth a total of Â£99 to bring you up to date with best practice marketing procedures for online and traditional subscription marketing
You pay just Â£157, a total saving of Â£211. If the material does not come up to expectations, email, write or phone for a full refund. This guarantee is valid for the lifetime of your subscription and can be exercised at any time.