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How does this drive conversion exactly?

  • By allowing your readers to pay on a sliding scale based on how much they consume, you in effect create a pathway to conversion.

  • Instead of asking readers to jump from $0 to $20 per month, for example, which is a large ask, they can work their way up to it over time.

  • Publishers can encourage reading, as well as reinforce and reward positive behavior for returning and reading more, helping to engrain a regular habit that builds loyalty and engagement.

  • By setting a monthly spending cap above your subscription rate you can do two things:

    • Encourage reader consumption in general by removing any fear of limitless spending

    • Encourage high-paying readers to convert to a subscription to make savings

  • The data that publishers get from these types of readers will show readers at different levels of spending. This will most likely reflect a Power Law curve, as is common with most 'performance' data. Using StreemPay analytics, publishers can then learn what encourages readers to move along the curve towards conversion.

Conversion chart.png

  • Let’s look at an example scenario:

    • Jane likes reading Example Magazine online, but already has 2-3 subscriptions elsewhere so isn't ready to sign up for the $10 a month subscription just yet.

    • She reads her 2 free articles a month and then waits until the next month to read the next two. She once took up an offer for $1 for 3 months but made sure she didn't sign up for the full subscription when it ended.

    • One day she gets sent an offer from Example Magazine to read whatever she likes and pay afterward for what she read. She signs on and starts reading content. She has transparency into what everything costs and can put limits on what she spends.

    • Best of all, Example Magazine has set a limit of $12 per month that readers like Jane have to pay, after which articles are free to read, just like being a subscriber.

    • In the beginning, Jane reads 3-4 articles a month, then 5-7, then 12-15, and eventually is regularly spending $10-12 every month. Now Example Magazine offers her the $10 subscription saying she can save money if she signs up. Jane has built both the loyalty and the reading habit, so she agrees and Example Magazine has now acquired a high-quality reader who is low risk and likely a long term subscriber.