retailers’ mobile site. An appealing feature of the app is that it allows readers to add items to a ‘payday wishlist’ so they can be reminded at a later date (‘pay day’) when they are more likely to be able to buy it.
FREEMIUM APPS WITH SPONSORED ADS: Time Inc’s Fortune magazine created a
freemium app for iPad offering an attractive mix of free and paid content. While this strategy aims at future conversions, there is still an opportunity to serve up ads to non- paying readers. The initial ad sponsors were Credit Suisse, Ally Bank and Brocade.
“Most of the industry has little or no
contact with the consumers who have downloaded the shell but have elected not to become regular issue buyers or subscribers,” Jed Hartman, group publisher for Fortune and CNNMoney.com, told adage.com. “This [freemium model with sponsored ads] creates a dialogue and relationship with them.”
MOBILE MONETISATION IMPERATIVES
Creatively enhance the print edition Most successful magazine apps focus on pro- viding a compelling brand experience exten- sion. Think the 2012 Sports Illustrated Swim- suit Viewer App that brings models appearing on cover to life, thus creating a new concept of companion app that enhances print content.
Highlight the reader value proposition of your app Mobile is a consumer-driven media. Identifying either utility or entertainment to the mobile app users hence becomes an imperative. Think paid utility apps like Eat This, Not That! (Ro- dale), or Cosmopolitan’s Sex Position of the Day that address inherent consumer needs while aligning perfectly with brand image.
Promote your app A company must first make sure their mobile app achieves a high download rate among the target audience. “Promoting an app through offline and online channels is crucial to its success,” says Eric Svenso, a US-based multi- channel marketing executive with 20+ years of experience.
Share relevant statistics with media buyers and advertisers Mobile is still in its infancy. In order to gain support of media buyers and bridge the gap between percentage of ad spend (1 per cent) versus percentage of time consumers spend on mobile (23 per cent), it is imperative for magazine publishers to be very transparent with regard to mobile consumption and user behaviours derived from monetisation tactics deployed since the mobile phenomenon.