Subscriptions vs. memberships. Getting the most from your audience

As monetization strategies shift from advertising (where Google and Facebook take the lion’s share) to reader revenue, there is an important distinction lost on many publishers: subscriptions vs. memberships. Simply put, subscription is a one-size-fits-all approach. It treats all customers the same, no matter their income level or engagement. Many publishers do more than publish news: they host events, offer discounts, even sell merchandise. A tiered membership strategy allows the publisher to reconfigure those offerings into different bundles that can appeal to different audience segments that have varying levels of price-sensitivity. However, pulling this off requires a precise strategy and deep understanding of the audience. To quote the Harvard Business Review: “Subscription is a pricing structure. Membership is a mindset.”