Overview of this campaign
The digital subscriber base of Bergens Tidende has grow steadily since its launch in 2013. Our digital subscriber base has surpassed the print subscriber base in volume, and it has also become a substantial source of revenue. However, as we have prioritized volume growth, the price of the subscription has not been adjusted since launch. Being priced far lower than our print products, digital subscriptions only account for a third of our total subscription revenue.
The decline in demand for print products over the past years has made it imperative that we find ways to make up for lost revenue by creating digital products with strong financial viability. Therefore, it was necessary to increase the price of digital, as we cannot rely on volume alone to match the revenue brought in by print. However, introducing a price hike put us at risk of stifling the growth in volume, potentially eroding the effects of the price increase altogether. With that in mind, we decided to introduce new features and a structure enabling us to reduce the potential negative effects. We decided to make use of a Good-Better-Best model where we could distinguish new features in the more expensive subscriptions, while giving more price sensitive customers access to our core news product at a lower price increase.
Results for this campaign
The results we have seen in the past year show that we have been able to establish our digital products at a higher price, while maintaining growth in digital subscription volume.
By highlighting our new features, and giving new life to some existing ones, we have been able to record a growth in digital revenue by 44% in just one year. The new structure has given us more opportunities in terms of working both with churn and upsale, and we have successfully led new subscribers to opt for one of our more expensive subscriptions.
Some of the results include:
- Increase in digital ARPU by 29% on new subscribers
- A 50% increase in subscription sharing (a key driver for retention) during the first month
- An average increase in new subscription prices by 31%, while maintaining volume growth
- A 20% increase in overall digital ARPU