Where Consumer Loyalties Currently Lie in the Media Industry

Since the inception of digital media, building consumer loyalty has been important for brands everywhere. But as reader revenue becomes the key to sustaining media companies, industry professionals must now decipher what kinds of experiences and content truly matter to audience members.

Bonnie Kintzer, CEO of Trusted Media Brands, explains that “we are living in the experience economy, and consumers — especially millennials — are willing to pay for products or experiences that have value.”

So what kinds of experiences with the media are people willing to stick around for?

You can unravel some of the most effective tactics that media brands are using right now to drive consumer loyalty. That way, you’ll be able to enhance your company’s existing strategy to attract audience members and retain them in the future.

Online Features That Enable Social Interactions

Humans need a social outlet. And since physical distancing continues to be so critical to our safety, consumers depend on opportunities to interact with others online to fill the void. 

Brands have an opportunity here to offer solutions that foster social interaction online to combat the increased levels of depression and anxiety that Gen Z has reported experiencing as a result of home isolation,” says Nick Gardner, who runs a podcast on Gen Z. 

This doesn’t just apply to younger audiences, though. 

From live conversation and chat tools to interactive games, people from all walks of life want the chance to engage with one another and form meaningful connections that they can nurture every time they return.

Explainer-Style News Stories

As the pandemic continues to run its course, consumers still have a lot of unanswered questions. Both Emily Oster, who launched a newsletter focused completely on COVID-19, and BBC News have noticed that people are craving explainer-type content to get more details on the virus… especially now that worldwide lockdowns are going into their second wave.

“The questions we are getting are much more about people’s everyday lives (amid the outbreak) and by capturing those, we can respond in a way that actually meets their needs, rather than us coming up with the most generally important content.” explains a senior software engineer at BBC News Labs. 

At the end of the day, media companies are seeing a spike in interest for in-depth coverage that’s relatable and understandable.

Video-Streaming Platforms

The popularity of video-viewing platforms has been climbing well before the pandemic ever hit. Now, Industry experts are realizing that consumers favor on-demand streaming platforms over regular cable or satellite TV. 

And this has only been accelerated by the pandemic as consumers look to fill the extra time they have at home. 

With the breadth of streaming services available — both free and via subscription — consumers will look to build their own smorgasbords of content to suit their appetite, funding this from their current TV costs,” Forrester’s Principal Analyst Jim Nail states

As media companies like Netflix, Disney+ and Amazon Prime Video continue to engage consumers through top-notch video-viewing experiences, users are encouraged to return to their platforms over and over again.

Hobbyist Content

While the news is essential to keeping individuals informed and safe, there’s a clear desire for content that distracts from the doom and gloom of the pandemic right now. 

That’s why media companies are seeing a huge amount of consumer interest in content that targets particular at-home hobbies. 

“Publishers who can capitalize on this surge in attention and build loyalty now will be in a strong position to maintain this engagement as we settle into the much anticipated ‘new normal,” reads an article published by the Digital Content Next media organization.

Businesses That Communicate the Need for Consumer Support

Media companies that clearly state the value of their subscription programs and why they need financial support are striking a chord with consumers. 

Publishers like BuzzFeed News, The Guardian, The Daily Beast and  Portland Press Herald have all been direct with readers about their need for consumer-based revenue, and are seeing a major boost in support.

This strategy is helping consumers recognize that they rely on trusted news sources regularly and must actively support quality journalism so they can continue to rely on these companies in the future. 

Your business’ ability to build consumer loyalty is ultimately a never-ending journey. So be sure to constantly test out new ways to improve the experience with your brand and secure loyal community members in the future.

Four New Types of Subscribers That Media Companies Can Target

The pandemic has completely changed life as we know it over the past few months. As consumers continue to social distance and limit their exposure to public places, their interests and habits are evolving. And some media companies are noticing that these behavioral changes will be long-lasting.

“The pandemic has disrupted every industry, sector, and sense of normalcy we’ve ever known,” states Jamie Rudick, the head of research and insights at Condé Nast Britain. “Though as we look to the next chapter, we see new values and virtues emerge – ones that will welcomingly carry on post pandemic.”

Publishers can use these emerging interests and values as a focal point to target consumers with engaging experiences online and drive subscriptions. To do so, media companies must first understand what new groups of consumers are willing to pay for.

Get a complete rundown of the new types of potential subscribers, and how your company can add them to its network of loyal community members:

People Looking for Social Outlets

Consumers have been deprived of in-person events and human connections since the pandemic’s start — but social interaction is essential to the public’s well-being. As a result, many consumers have become eager to move their social lives online. 

Even sports fans are relying on publishers for virtual opportunities to connect over industry milestones and updates.

“Facing the reality that packed theatres and auditoriums likely won’t be returning this year, would-be spectators are coming to terms with the prospect of paying for virtual cultural stimulation,” Condé Nast Britain explains in a report. 

While some consumers are going online to maintain existing friendships, others are simply searching for a way to share their feelings about topics they care about with strangers. 

Media companies can use this to their advantage by providing consumers who are looking for social outlets with opportunities to participate in live conversations.

Hobbyists

Consumers that previously filled their schedules with commuting and social excursions suddenly have an abundance of time on their hands at home. As a result, they’re testing out old and new hobbies to keep themselves occupied as well as for therapeutic purposes.

In this time of uncertainty and instability, and a world and existence we no longer recognize, people need an anchor to familiarity and what [brings] them comfort, stability, safety, and happiness,” Dr. Jeff Gardere, a clinical psychologist, explains to CNN.

Poynter notes that hobby-specific publications have seen a particularly large surge in readers and engagement since the beginning of the pandemic. This new type of consumer is highly interested in building up home-based skills, like cooking, baking, gardening and home improvement.

To capture and hold the attention of these hobbyists, media companies may want to consider creating regular tip-style content and events related to popular hobbies.

Virtual Escapism Seekers

With countless vacations canceled and ex-globetrotters now stuck at home, the pandemic has pressed the pause button on travel. Those itching for a getaway are now craving other, safer ways to escape the grind of their daily lives. 

“Cornell University research has shown that there is a very close correlation between planning trips and mental health,” says Travel + Leisure India and South Asia’s editor-in-chief, Aindrila Mitra. “So there is no quarantine on dreaming, and it is our job to focus on armchair travel and provide virtual trips, which offer an escapism of sorts.”

Media companies can target this group of travel-hungry consumers through virtual experiences centered around nature, wellness, tourism and planning trips. 

Need some inspiration? Culture Trip is offering a series of interactive online experiences that focus on at-home international experiences, including meditation classes with a Buddhist teacher and Israeli or Morocco-based cooking classes.

Information Hunters

Between the pandemic and the Black Lives Matter protests, consumers have never been more hungry for information. These news-obsessed individuals are constantly on the hunt for new and relevant information they can trust. 

In a survey with 2,500 consumers, 62% of respondents stated that they’re currently craving informative content. 

These individuals can be engaged through information hubs, like live blogs, where any ongoing updates related to a topic can be posted in a reliable space. 

This is the time for media companies to make use of these budding consumer interests to build stronger connections with audiences and drive subscriptions. At the end of the day, publishers that can spark a balance between entertainment, social engagement, escapism and reliable information will position themselves for growth.

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