Defining e-commerce as “revenue driven business on digital platforms,” Anders Ovesen says that Ekstra Bladet does not differentiate between commerce on various channels — for example, mobile app or Internet — because its customers expect the same high level of service, regardless which platform they are using.
“Our approach is to be innovative and open-minded, having a ‘let’s try it’ attitude to all possible e-commerce revenue streams,” says Ovesen, mobile sales manager. “Of course, we are not just testing everything blindfolded. We do analysis and create a business plan and model for each initiative.”
The company has launched several projects and partnerships, from investing in digital project and apps to even gaming producers. Using a self-service booking platform for ad campaigns called Easy-Ad enables Ekstra Bladet to give its customers new possibilities.
This full service concept allows Ekstra to offer banner production to its customers, or alternatively lets the customer book banner campaigns themselves. The media company plans to expand this area with more products and market places.
Of course, digital subscriptions are an important part of the strategic approach. “The e-paper, via paid subscription (online only), gives the readers more depth in various editorial sections, analysis, graphs, and so on,” Ovesen says.
The digital subscription also provides more information around specific stories and events, such as a major boxing event with local warrior Mikkel Kessler, providing coverage of his life and his matches in specialised content.
“At the same time, we ensure that our free sites still offer the same high-quality editorial. We cannot afford to disappoint the many readers who are more than satisfied with the existing product.”
Since the launch of the subscription based e-paper, Ekstra has seen the number of subscribers increase dramatically. “The strategy of paying only EUR€4 a month for Ekstra, with no long-term commitment, seems to attract readers and the market in general,” Ovesen says.
While he won’t divulge the profit margin, Ovesen says that the e-commerce activities are profitable: “Subscriptions are still in the early stage, but turnover figures are better than expected. Investments in such a strategy are high, so we see this as a long-term strategy.”