Congratulations to Infopro Digital who are the winners of Digital Publishing Company Of The Year B2B
2018 saw fantastic financial performance, the introduction of engaged time advertising (cost per hour/CPH) and substantial digital subscription growth, with subscriptions up 9% year-on-year (YoY) – to 79% of total digital revenue. We also increased premium subscribers from 25% to 40% of total cash, raising yield significantly. We introduced CPH advertising using 40% less impressions to deliver 50% more revenue, increasing yields from eCPM (effective cost per thousand impressions) by 150%, and boosting ad recall by 20%, brand familiarity by 50% and brand consideration by 40%. Our revised native offering increased revenue by more than 90% YoY.
Set the Scene
Our Risk.net, FX Week, Central Banking, Technology and Insurance brands have transitioned successfully to digital enterprise subscriptions over the last three years. This has resulted in significant improvements in user experience, speed, content discovery and customer service. This drives our commercial success. Engaged users who find an easy to use website with advanced functions, such as personalisation, followable topics and individual user libraries, deliver better renewal rates and increased spend. However, we wanted to drive up subscription yield. The only difference between our Premium and Standard services was technical content that was not of core relevance to 80% of the Standard subscribers, so we researched and developed a new premium offering. Articles are now short and broken into chunks – the facts, the context and brief commentary – and use data visualisations. 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 also wanted to find better ways to monetise our high-value audience through advertising. We needed a solution to drive up ad revenue and decided to turn our disadvantage (long-form content, low inventory and relatively small user numbers) into an advantage by selling time (CPH) over impressions.
Your strategic plan
As a long-form publisher selling enterprise subscriptions to banks and financial organisations, our strategic objectives were to:
We researched the market extensively and identified a knowledge gap that was not being addressed – a new product that finds insights in data. Articles would be short and highlight the facts, with brief commentary and data visualisations. We hired additional editorial staff and supported them with software to help them trawl through hundreds of pages of company disclosure documents. This content would be made available to Premium subscribers exclusively, but we opened it up to our Standard subscribers for a month so they could appreciate the value of it before they upgraded. On top of this, we digitised our Books content and made this available to Premium subscribers as well. This has driven significant yield improvements through an increase in upgrades, with 40% of cash now coming from Premium subscribers (from 25%) and 30% of our contracts being Premium (from 15%). The advertising model was broken for us, as too many ads upset subscribers and inventory growth had plateaued. We needed a solution to drive up ad revenue and decided to turn our disadvantage (long-form content, low inventory and relatively small user numbers) into an advantage by selling time (CPH) over impressions. This has resulted in yield growth of 50% through the use of 40% less inventory per CPH campaign, delivering 30% more time than CPM campaigns of the same spend.
The Digital Publishing Company of the year B2B is sponsored by PubMatic.