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Fiona Spooner, Financial Times : The Financial Times' March to a Million Through Access and Engagement

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Fiona Spooner, Financial Times : The Financial Times' March to a Million Through Access and Engagement. DMX Dublin 2019.

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Fiona Spooner, Financial Times : The Financial Times' March to a Million Through Access and Engagement

  1. 1. Fiona Spooner Global Marketing Director, B2C Financial Times The FT’s March to 1 Million ...our dual axis approach to driving growth
  2. 2. Who are we?
  3. 3. Paid circulation 997,000 +8% YoY Digital circulation 796,000 +12% YoY 60% Revenue from content & services 13 million monthly readership The FT in numbers Secondary School Students 22,000 Mobile drives nearly 60% of total digital traffic Digital content revenues up double digits YoY +15% growth in reader engagement YoY
  4. 4. Progress in paid for readership 2013 2014 2015 2016 2017 2018 YEAR 500,000 550,000 600,000 650,000 700,000 750,000 800,000 850,000 900,000 950,000 1,000,000 TOTALPFU
  5. 5. Dual approach RFV EngagementAccess PRICE PACKAGE PROPOSITION
  6. 6. Access
  7. 7. The evolution of the subscription model 2002 Launched digital subscriptions To be less reliant on advertising revenues
  8. 8. The evolution of the subscription model 2002 Launched digital subscriptions To be less reliant on advertising revenues 2007 Metered paywall with 30 free articles To build a relationship with our customers
  9. 9. The evolution of the subscription model 2002 Launched digital subscriptions To be less reliant on advertising revenues 2007 Metered paywall with 30 free articles To build a relationship with our customers 2013 Reduced levels of access Customer research to optimise the subscription model
  10. 10. The evolution of the subscription model 2002 Launched digital subscriptions To be less reliant on advertising revenues 2007 Metered paywall with 30 free articles To build a relationship with our customers 2013 Reduced levels of access Customer research to optimise the subscription model 2015 Trial to full subscription introduced (£/$/€ 1 Premium) Provide the opportunity for value and habit determination & reach new audiences
  11. 11. The evolution of the subscription model 2002 Launched digital subscriptions To be less reliant on advertising revenues 2007 Metered paywall with 30 free articles To build a relationship with our customers 2013 Reduced levels of access Customer research to optimise the subscription model 2015 Trial to full subscription introduced (£/$/€ 1 Premium) Provide the opportunity for value and habit determination & reach new audiences 2018 & 2019 New competitor landscape, flexible sampling, GDPR, Guest passes, dynamic barriers. Continual optimisation
  12. 12. Our competitive landscape has changed. The subscription economy is now in full swing. Where we are now?
  13. 13. Trials over metered models. This allows for the building of a habit, not rationing the experience. Alternative access? Where we are now?
  14. 14. News can still be free. We have to actively optimise our pricing to reflect a competitive landscape. Where we are now?
  15. 15. Accessibility is key. What’s the customer journey? How transparent are we? Where we are now?
  16. 16. Optimising Conversion : dynamic barriers +17% CR uplift
  17. 17. Optimising Conversion : naming
  18. 18. Driving Engagement
  19. 19. We’ve found 1. The more engaged a user is, the more likely they are to convert ENGAGEMENT CONVERSION
  20. 20. We’ve found 2. The more engaged a user is, the less likely they are to cancel ENGAGEMENT CANCELLATION
  21. 21. We’ve found 3. Increased engagement leads to increased revenue REVENUE USAGE
  22. 22. How our users engage with the FT? Email alerts Multichannel consumption Downloading FT apps Reading articles Attending events Using myFT Reading and writing comments Sharing stories Likes and follows Listening to podcasts
  23. 23. Our ‘North Star’ RRecency FFrequency VVolume Today? Yesterday? Last week? Daily? Weekly? Monthly? 1, 10, 100 articles?
  24. 24. Data-driven programmes drive engagement On-boarding: education Tools and features usage: behavioural Content engagement: interest based +14% RFV - 30% CX rate
  25. 25. Data-driven programmes drive engagement YOUR YEAR WITH THE FT +2.5% RFV 94% Positive feedback “Always good to understand our behavior patterns. Also great to know the FT cares about it.” “Good way to illustrate to my accountant that my FT subscription is value for money.”
  26. 26. Our biggest engagement driver
  27. 27. Content | Our Biggest Engagement Driver
  28. 28. @fionaspooner Thank You

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