Situation:
The digital era has ushered in a decline in printed media, particularly for media houses. This shift presents both opportunities and challenges. Historically, people depended on printed media for news, fostering a unique brand loyalty. However, the digital transformation has reshaped this dynamic, ushering in the attention economy era. Our client, a prominent media house in Denmark, boasts 17 newspapers and 4 websites. Like many in their industry, they’ve been exploring personalization for some time.
Complication:
In the attention economy, relevance is paramount. The prevailing industry solution has been to recommend content based on “Most Read” or “Newest Content”, with expiration dates determined by individual journalists. While this approach might broadly target the audience, it’s fraught with inconsistencies. For instance, an article about an animal escaping a zoo might be relevant for 1-2 weeks, whereas a tax reform piece could hold relevance for 6-12 months. Relying on journalists to set these expiration dates introduces variability and necessitates ongoing change management to ensure content remains current.
Opportunity
Faced with these challenges, the Media House deliberated on their next steps. One option was to invest heavily in an in-house team of Data Scientists, but this approach was both costly and uncertain. Some industry peers had chosen this path, only to expend significant resources with underwhelming outcomes. The Media House sought a sustainable solution to maintain and expand their market share. This is why they contacted Allyy.io, our platform designed for deep content recommendations, such as news articles. Though our initial collaboration with a media house required some adjustments, the platform’s adaptability meant it could be easily implemented by other media entities. After integrating our models, the client tested our recommendations using a “recommended for you” carousel for a select group, contrasting its performance against the traditional approach.
Resolution:
The results were compelling. By tailoring content to each individual in the test group, our client observed:
*19% increase in sign-ups for paid subscriptions (articles behind paywalls).
*24% boost in subscription renewals.
*20% faster return rate for visitors.
*21% surge in clicks.
In conclusion, personalized content not only enhances user engagement but also significantly impacts conversion rates and customer retention.
