How do publishers determine the price of a digital magazine? Can you charge the same as the newsstand cover price? What does the competition charge? Do you charge extra for back issues or additional features? It can be tricky to price your online publication, but some thorough market research and testing can make all the difference.
Not everyone has embraced the idea of reading news and features electronically, and many aren't sure about the benefits of paying a subscription to read something that's available from the newsagents or the train station. Until online publications are more mainstream, it's the responsibility of publishers to show that there are benefits to subscribing to an online edition.
Pricing Research
If you are thinking about launching an online version of your publication, then you should be considering some market research. Define who you want to attract with your online version - it could be several key markets - and then decide what content you'll allow free access to and what you'll charge for. Research your pricing in much the same way as you would if you were launching a new traditional publication:
- send out a test version to readers and ask for views on the format, content and pricing
- look at the competition - what are they offering readers and how are they charging for it
- use your hard copy edition to sell your online version to existing readers
- use blogs or message boards to sound out potential readers
If you're just replicating your hard copy content online, you may want to charge slightly less than the regular cover price. After all, the savings you're making on print and distribution costs means that you'll still turn a profit. On the other hand, if you've decided to make your web magazine a truly interactive and content-rich resource, you may want to either charge a higher per-issue subscription or charge a lower general subscription with additional fees for access to back issues, editorial background or audio and video clips.
Whatever pricing structure you choose, make sure that you have research to show that readers are willing to pay those charges to read your publication online. A good marketing campaign and quality online content should ensure that your online magazine is revenue-generating as well as forward looking.
Take a look at our bespoke digital publications software to see how you can offer value for money to your online readers. Just click Online Magazines to see how we can help.
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