Improve your Magazine Circulation with this Simple Tip
January 25, 2023 / Bob Vitek
Most magazine and newspaper subscriptions last for a single year but it doesn't have to be that way. By offering longer terms you greatly reduce the cost of renewing subscribers. Instead of running your renewal effort series every year, for subscribers on longer terms, you can renew them once every two or even three years. That can be a significant saving.
And yet, only 56% of publications are even offering terms longer than one year.
At SimpleCirc we analyzed data for hundreds of magazines and newspapers and found that those offering enticing long-term pricing had a significantly higher percentage of their circulation on multi-year subscriptions. Some were even as high as 50%!
So what constitutes an "enticing long-term offer"? First, of course, you need to offer options for subscriptions where the term is longer than 1 year. As we said, only 56% of publications are doing this. Of those who were offering longer terms, most offered both a 2-year and a 3-year term.
Second, putting your best offer at the top (and having it as the default option) helps a lot. Some people will just leave the default option checked but more importantly, it highlights the value of a long-term subscription for the subscriber.
Finally, showing the subscriber exactly how much they will save is also an important factor in convincing a subscriber to choose the longer term. Tell them how much they will save by purchasing a longer-term upfront and tell them what a great deal it is. The more you highlight the savings the more you will see people picking the long-term options.
And one last note, don't just assume long-term deals are only for new subscribers. When it comes time to renew, offer the same long-term deals to your existing subscribers. They already know how great your publication is and they want to keep getting it, so they are prime candidates for selecting a long-term deal.
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