Immediate Media’s subscription team is split across London and Bristol and includes brand leads, specialists across digital marketing, apps and digital editions and analysts.
Alongside rigorous acquisition testing and improving renewal and churn rates, the team tests various data cohorts across the brand’s portfolio, to understand sensitivity to direct debit price increases in order to grow yields.
This strategy helped Immediate Media increase the prices of 200,000 subscribers in 2017, generating additional revenues. It lost only 14,000 subscribers as a result of the price rises, a cancellation rate of 7%.
Yields have also increased alongside digital subscriptions, with growth driven through online marketing channels and the brand’s e-commerce platform, buysubscriptions.com, while apps and digital editions have enjoyed successive years of growth.
Partnerships are also key to the business, with the brand’s digital editions selling content to institutions and libraries, via broadband networks in India, on-board entertainment across the UK and audio versions.This area has seen growth of 45% year-on-year and was the biggest revenue channel increase of the year.
Immediate Media’s subscription team has also looked at how online content can be used to add value to print subscribers; for example, it created Gardeners’ World Secret Garden, an exclusive online space for members of the magazine’s Subscriber Club.