Our blog last week covered the pro’s and cons about building your own customer identity system, and the importance of having a strong base to source potential customers from. This blog will now in turn focus on user acquisition, and advice on how to successfully run a user acquisition strategy that will lead to a higher return of paid subscribers at the end of the journey.
What Is User Acquisition?
To define, user acquisition is essentially the act of gaining new customers, whether it be via a service, app, or platform, the end goal is the same. User acquisition in the online publishing industry is an ever-evolving market. Therefore publishers have to become more and more innovative with how they acquire new customers. Now you may have read our blog on how to grow subscriptions, and this is a very similar topic to this, so we’ll try not to repeat ourselves too much.
Now in the previous blogs mentioned, we spoke about the importance on building a user profile, analysing behaviour, and personalising offers. This is a type of user acquisition strategy. This is the Evolok way of acquiring new users. A direct example of where you can see first hand about Evolok’s user acquisition strategy and the improvements you can gain from it will be from The Spectator’s recent feature in Digiday. The article states that, since implementing the Evolok product, it’s now adding a new 400 paying subscribers a week. The Spectator’s editor Fraser Nelson suggests that the sudden increase is because of readers willing to pay for quality journalism.
The secret weapon behind the scenes however is the user acquisition product that’s taking the readers on the journey from anonymous reader to paying subscriber, is clearly showing its promise. Another publisher has had their subscribers increase three fold since implementing the product at the start of September, a fantastic return for such a short space of time.
Why Is user Acquisition Important?
Without a strong user acquisition strategy, it can be very tough for businesses to find and convert new users into paying subscribers. User acquisition focuses heavily on data that looks for trends and patterns, therefore your customer identity system must be of a very high grade.
Essentially, without a good user acquisition strategy, then even if your product is outstanding and is the best in it’s field, you simply won’t entice new users to go and try it, and it seriously limits the amount of interest and conversions that you’ll receive from a business point of view. Contact Evolok for a further demo.