![\"Subscription](\"https:\/\/www.hostgator.com\/blog\/wp-content\/uploads\/2016\/07\/Subscription-News.png\")
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Many of us regularly dismiss plenty of subscription pop-up boxes on web sites. Why tie yourself to a digital subscription if you\u2019re just visiting to read one article or a handful of items each month? The most frugal among us-including many small business owners and bloggers who operate on a shoestring-may wonder why anyone pays to read New York Times or Wall Street Journal stories online when they can find free news elsewhere. The reason people pay for news site subscriptions shines some light on how small businesses can build their own subscriber\/customer bases and grow beyond 'shoestring budget'\u009d mode.<\/span><\/p>\n One standout example of digital subscription success is the New York Times, which suffered along with the rest of the newspaper industry through the digital transformation in the late 90s and early aughts. Now, though, the paper of record has 2.5 million digital and print subscriptions a giant leap from the 1.5 million print-only subscribers the paper had in 1995. Even though less than 2%<\/span><\/a> of the Times\u2019 monthly visitors are paid subscribers, total digital revenue for 2015 was $400 million, with more of that coming from subscriptions than from advertising, according to a recent conference speech<\/span><\/a> by NYT Global editorial director Lydia Polgreen.<\/span><\/p>\n The first lesson for business owners considering a subscription model for content or services is this:<\/span><\/p>\n Not every site visitor must become a subscriber for your business to succeed.<\/span><\/strong><\/p>\n NiemanLab<\/a> reported<\/span> last August that of the 60 million unique visitors to the Times\u2019 site each month, only a million are paid subscribers. However, paying readers spend more time on the site and view more pages than free visitors view so they\u2019re more valuable in terms of ad revenue. In other words, per industry analyst Ken Doctor, 'l<\/span>oyal core readers build the foundation of the news business.'\u009d <\/span><\/p>\n The challenge for every business is building the loyalty that leads to subscription or customer base growth.<\/span><\/p>\n [bctt tweet=”Not every site visitor must become a subscriber for your business to succeed. #blogging” username=”hostgator”]<\/p>\n <\/p>\n To win subscribers, the Times went beyond the basic free coverage that readers could get from other outlets. Polgreen mentioned unique stories the Times did, such as a long-form profile of a woman living with Alzheimer\u2019s and investigative pieces on nail salon worker exploitation and state prison corruption. With these types of stories, the Times created a clear value proposition: exclusive, interesting reporting by experienced journalists. <\/span><\/p>\n Small businesses don\u2019t have the resources, budget, or pedigree of an organization like the Times, but they can provide value customers will pay for — if they\u2019re willing to spend time getting to know their target market.<\/span><\/p>\n <\/p>\n This is what the Times does when it spends weeks or months tracking a story they know readers will care about, and it\u2019s what top bloggers like Jon Morrow<\/a> recommend<\/span> for new bloggers and business owners who want to build an audience. By listening to your current or future audience, you can learn what they want and what they value enough to pay for.<\/span><\/p>\n <\/p>\n Before you can listen and learn, you need to know exactly who to listen to. Invest some time in developing your customer personas-such as age and income brackets, lifestyle, location, and more-so you can make the best use of your listening efforts.<\/span><\/p>\n <\/p>\n If you already have a customer base, email list, or a social media following for your business, you know where to find your current audience. To reach similar prospects-or to build a brand-new audience-follow blogs, news stories, and social media accounts that reach the people you want as customers.<\/span><\/p>\n <\/p>\nCustomers become loyal after businesses prove their value<\/span><\/h2>\n
Listen to your target audience<\/span><\/h2>\n
Who\u2019s your audience? <\/span><\/h2>\n
Where\u2019s your audience?<\/span><\/h2>\n
What does your audience want?<\/span><\/h2>\n