I cannot tell you how many brands we have sat with as we discuss the value of premium-priced Insider programs where a statement is made around the "impossibility" of charging their customers or fanbase more. Fast forward a few weeks, and in some cases a few hours, the tune typically changes.
When a brand gets out of what we call the "SKU mindset", they finally start thinking about their audience needs or wants without the limitation of their existing product set.
The magazine publishing world is the perfect example of this conundrum. While the statement is typically, "how can we sell more subs", the reality is they're really saying "how can I sell more of these magazines we're spending a fortune to print?" One of our initial goals when going through a "Design & Discovery" process is to look at the world differently. Put your audience at the center of your strategy, not your product(s).
The brands we work with across media, sports and entertainment inherently have a vast available audience. When we collectively explore an audience-first strategy, we don't limit our thinking to existing product SKU's. We start looking at all assets... content, merchandise, events, sponsors, advertisers, and more. We lead our partners through a mind mapping exercise that almost always results in a robust and wide-ranging array of potential benefits which can be repackaged, redeployed, bundled or even introduced for the very first time. Every brand has some subset of its audience which unquestionably wants more from it. I'll let you do your own math, but it doesn't take much to realize that even 5% of a large audience paying 5-6 times more in annual average revenue is a game changer.
In the category of "it's actually not too good to be true", all of this can (and is in many cases) with existing assets against an existing audience. Let's work together to think smarter, rethink the audience, and deploy an Insider program that creates exponentially more LTV for your brand.