Congratulations to Risk.net who are the winners of Best Online Brand: B2B
Risk.net uses ongoing research to understand its position in a changing market. It has continually evolved to ensure content, product and subscription propositions are customer-centric. We re-launched the Risk.net website in 2015. Every year since, we’ve achieved double-digit subscriptions growth on the brand. In 2018, we prioritised adding more content (Risk Quantum) to our Premium subscription offering to grow the brand further. This combined editorial, sales, digital and marketing strategy was a huge success, and helped drive a 40% increase in our Premium contracts, which contributed to 15% cash growth.
Set the scene
We set ourselves a huge growth target of double-digit percentage subscriptions cash growth. Off the back of phenominal growth since 2015.
Delivering growth: find even more users within the existing subscribing firms, source new business and grow yield on existing accounts via product improvements.
Adding more value: renewals were already very strong and garnering new product development ideas was tricky as subscribers were very happy with the existing offering.
Upgrading users to Premium: the only difference with our Premium and Standard service was the technical content which wasn’t of core relevance to 80% of Standard package subscribers.
Tell us the story
The Risk.net brand was already very well respected. But our vision was to up the ante – delivering more content that readers could not source anywhere else.
We extensively researched the market and sought feedback from our audience. Our vastly experienced and connected editorial team identified a knowledge gap that wasn’t being addressed. Enter Risk Quantum – a new product offering that finds insights in data. The service tracks the public disclosures of more than 120 banks, funds, insurers, corporates and central counterparties, finding the needles in these haystacks that are relevant to the community.
Articles are short and broken into chunks – the facts, the context and brief commentary – and use data visualisations to get each story across. The aim is to help our readers stay in touch with what their peers and competitors are doing and how their markets are changing. We invested in two additional editorial staff and supported them with software to help them trawl through hundreds of pages of company disclosure documents. This content would be exclusively available to Premium subscribers. But we opened it up to our Standard subscribers for a month to appreciate the value of it before they upgraded. On top of this, we also digitised our Risk Books content and made this available to Premium subscribers as well. Thanks to our digital development team – the presentation of this content has been extremely well executed online. The books are separated into chapters and the reading experience is as close to a book experience as possible.
Subscriptions cash saw double-digit percentage cash growth. Despite unfavourable FX rates.
Overall revenue up 5% as our digital advertising benefited from the additional page views and time spent on site.
New subscriptions cash increased by 23.4%.
Renewal rates remained strong
Increase in upgrades, with 40% of cash now coming from Premium subscribers (from 30%) and 30% of our contracts being Premium (from 20%).
Subscriber engagement – 4 percentage point increase in overall engagement, 7pp increase from our core market of banks.
The Best Online Brand: B2B category is sponsored by Sloop Media.