According to wikipedia (a ‘reliable’ source I know but hey what ya gonna do!) Newsday is a daily American newspaper that primarily serves Nassau and Suffolk counties and the New York City borough of Queens on Long Island.
As of 2009, its weekday circulation of 377,500 was the 11th-highest in the United States, and the highest among suburban newspapers.
Now about 3 months ago Newsday made their online news site NewsDay.com a paid subscription. So if you wanted access to Newsdays articles online you have to pay 5 bucks a week.
Now this may not seem like a lot but Newsday is one of the first non-business newspapers to charge for their content online. And how successful was it? It was and is a CATASTROPHIC failure. 35 people have subscribed to their service!
The revamp of the site reportedly cost 4 Million & their 35 customers should bring in about $9000 a year. This site is the perfect example of a business with massive web traffic but just terrible sales funnel, a product that can easily be sourced for free, a major failure in understanding their market & what I can only assume is absolutely no communication with it’s website visitors.
I mean the site gets over 1,500,000 million unique visitors a month. I’m not even going to attempt to calculate the sales conversion rate but I’m sure there’s a lot of zero’s after the decimal point. ( If you like your maths leave the conversion rate in the comments below)
The lesson to take from this?
It can be very easy to become bogged down focusing all your time on generating traffic and tweaking your website and that’s all well and good but if you don’t understand and interact with your audience, know what they want & develop a relationship with them, no matter how much you spend on a fancy website & traffic you’re not going to succeed online.
Got any input on this story? Are you one of Newsdays 35 Subscribers! Leave Your Comments Below.
P.S. I went to their to site to check out their sales funnel, do the same & let me know what you think.
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