08 Aug

Making Online News Pay – Pt 1 paywalls

I am currently exploring the various avenues for making money from online news as part of my MA Online Journalism.

Over a series of Posts I hope to explore the various methods of generating revenue from online content – looking at the various issues, and pitfalls along the way.

The Project

My idea is a website that offers short, exclusive video interviews with bands – often bands that would not get mainstream coverage elsewhere (e.g. radio and television) but have a small, but cult, following.

The Money Making Options

  • Paywall
  • Standard Banner Ads
  • Ad-content (more on this in future posts)

Paywalls

First, then – the big talking point of the moment, Paywalls.

I would not even consider a paywall model, were I providing standard, general interest news that could be read anywhere. Why would people want to pay for my content, if they could read it for free on a rival site? The beauty of the internet is the sheer volume of material out there, and the means by which to get at it. Websites, RSS feeds, email, social networks – they are all serious competition now for the news outlet.

“The Times”
Image by tripu via Flickr

The Times is attempting to do exactly this with their paywall. Initial figures are not healthy (losing 2 thirds of their online readership). Of course, that means a third of their readers are happy to pay £2 a week for online news – and those figures may eventually work in their favour, who knows. This is The Times, however, they had more readers to play with in the first place. A small local paper that attempted a paywall would be looking at 33% of not-very-much – an impossible situation.

There have been more successful attempts at a Paywall, all of them offering something unique to the reader (the old ad-men phrase of the USP) be it useful information (in the example of the FT or Wall Street Journal), or “celeb-toriety” (right wing commentator RushLimbaugh in the USA). In fact, many of us already accept paywalls as a way of life – Sky TV subscriptions anyone? Again – offering something that you cannot get for free elsewhere.

The question really is not, WILL people pay for “exclusive” content, but how much?

The Content

  • The content I am offering is exclusive video interviews with bands.
  • These will be video interviews, which are quick to digest, interesting to watch and entertaining.
  • The bands I am interviewing are small enough not to get mainstream media coverage (radio or TV) hence the content has a unique value
  • The bands have a cult following within their field and there is a genuine interest in their activities
  • Content will tend to gathered in batches (ie at festivals) so there is an opportunity to promote interest between similar bands

The Audience

  • This audience are not a business audience – they are music fans (teenagers, early 20’s) who consume their magazines, news etc online via social networks, websites and apps.
  • They will be happy shopping online, and in theory, would be comfortable using Paypal to sign up to a site
  • However, would they see the value of this content? And how much would they be willing to pay for it?

Maintaining the Exclusivity

This is icon for social networking website. Th...

Image via Wikipedia

I would go to great lengths to maintain the exclusivity of this content – attending small niche festivals where no other media is interviewing, locking the content as private on video website Viddler,  and embedding it behind a subscription page on my own site.

The downside of this is that the content itself cannot be shared, passed on or promoted – only the link to the page – for which you would need to have paid to access.

Add to FacebookAdd to DiggAdd to Del.icio.usAdd to StumbleuponAdd to RedditAdd to BlinklistAdd to TwitterAdd to TechnoratiAdd to Yahoo BuzzAdd to Newsvine

07 Aug

Facebook: groups V fan pages

I am currently working with several companies to develop their online marketing via Twitter, Facebook etc.

A new client currently has a profile, which they actively use, and a Group. However, I wonder if this is the most effective way of marketing their company, besides which, having 2 searchable profiles (group and page) is confusing to the searching user and hard work to maintain.

I am proposing they focus instead on a Fan page.  However, with more than 2500 members of the group, moving away from it is a big decision. Or is it?

I have started investigating the pro’s and con’s of a Page, against a Group, and I am still convinced that, for a business with ongoing activity, a Page is the better option.

  • A Page is Open: once a person “likes” the page, updates will then appear in their News Stream. The only way for Group members to find out what you are doing is for you to invite them to an event or message them. Many people are now event and message weary on Facebook.
  • Cross Promotion: a persons activities within  a Group are not posted onto their wall – so other people are not exposed to the group or it’s activities. A fan page, however, is open and Likes, Comments etc, appear on that persons wall. This leads to free promotion to their friends.
  • Easier to join – like buttons on sites etc automatically add people
  • Clear message – Groups can turn into a free for-all with random people posting random things on the wall. The Group messages are then lost in a sea of irrelevant chat. A Fan page allows the reader to pick JUST the page owner, or page owner and others. The message is more focussed.
  • Remote posting/monitoring – You cannot post to a group remotely (from a 3rd party programme like Hootsuite or Tweetdeck, only a Page) For round the clock management and monitoring, a Fan Page is easier to monitor, along with Twitter and other accounts, from one location.
  • Analytics: Fan Pages come with detailed analytics of members, interactions, quality of posts etc so you can monitor how your page is doing. Groups do not have this luxury.

How to make the jump:

  1. First thing is to HIDE the profile – we still need it as a base for the new fan page – but we don’t want more people to join it.
  2. Launch a fan page, Anyone now searching for the product will find the Fan Page NOT the profile – this is what we want.
  3. Promote the fan page on the Group and  the profile page encouraging people to LIKE
  4. Place a button on every page of the website/other social networks, which people can simply click to “like”
  5. Phase out activity on the group but continue to advertise the Fan page
  6. Close the group.

It may seem like a risky move but the effort currently going into promoting through the group, which people are not reading, interacting with or mentioning on their own site, seems wasteful.

All content (c) Caroline Beavon 2020