Written by: Rashmi
Ever since digital publishing has embraced revenue based on subscriptions, things have changed. They are no longer completely dependent on ad models. In fact, some media houses have shown drastic improvement in their subscription models, which has resulted in more and more media outlets making the big shift.
If you too have been planning to move to the subscription model using a metered paywall, this article is for you.
From the basics and benefits to essential factors and best methods, we have gathered essential information to make the shift smooth and easy. Let’s begin.
What is A Metered Paywall?
Considered one of the most popular options, a metered paywall lets user read a certain number of articles for free. When the quota is reached, a metered paywall locks the content and offers a subscription plan if the user wishes to continue reading the articles.
In simple words, people can read only a few articles for free. After that, they will have to pay to access the content.
Many prestigious publishing companies such as New York Times and Bloomberg Quint adopted this version. The famous online publishing platform Medium also uses the same paywall option to grow its revenue every month.
Why Choose Metered Paywall?
Switching to a metered paywall method can be challenging. It may even lead to lower traffic and social media shares in the beginning.
But the truth is, if you combine it with quality content and the right strategy, it can bring a huge number of digital subscriptions. And good news – people are gradually taking out money from their wallets (or digital wallets) to pay for content they value.
If you are still worried about this step, there are top three reasons why it is a great step:
Not Just Higher But Consistent Revenue:
Usually, online publishing relies on advertisements or other channels to generate income. But with a subscription model, people will directly come to you to offer predictable revenue.
And if you reach a good number of subscribers, it makes you more attractive to advertisers and other companies looking for brand collaborations. No less than a win-win situation at the end!
Kevin Kelly said in “1,000 True Fans” essay that to be a successful creator, you don’t need millions of dollars but just 1,000 true fans who “will drive 200 miles to see you sing.”
Metered Paywall can be your ticket to get those true fans. Your subscribers will not be random people coming and just scrolling on the website. These will be active readers who cherish your content. They will also actively engage with your content to expand your reach and audience.
Stronger Brand Positioning:
It is a common perception that if you have to pay for something, it ought to be special. The same goes for digital publishing.
When a person subscribes to read an article on your website, it automatically emphasizes that your content or website is exclusive and value-filled. Just fulfill this promise of quality pieces, and the reputation will build on its own.
3 Things To Keep In Mind Before Setting Up A Metered Paywall
It is critical to understand your audience, its wants, demographics, and expectations before implementing a paywall. This will help in understanding what’s valuable for them and how you can offer that.
Click baits work when revenue models are based on ads. But it is high quality content that wins the subscription game. So, put efforts in churning out the best quality content that justifies the worth.
As the name suggests, paywalls do create a barrier between consumers and content. This means your traffic will drop once you launch a metered paywall. However, that’s just one side effect. The readership has the great potential to rise after a few initial hiccups.
Making The Shift To Metered Paywall Made Easy
The key to a successful shift to metered paywall lies in a user-friendly experience. Your audience does not want a complicated process, irritating interface, and time-taking payment options.
To avoid that, Quintype has designed Accesstype. This content monetization tool gives you a 360-degree support in all the processes.
Here are some of the best functions you can enjoy:
Easy setup and access
Hassle-free payments through e-wallets, credit cards, net banking, and UPI
That’s not all. Accesstype also facilitates customized subscription options if you wish to create a personalized experience for the readers.
We also offer a consultation to help you choose the right paywall strategies. Let’s get started!