In the past there may have been a tendency to see a paywall as something to detract viewers, but with the ever increasing appetite for digital content, and the array of paywalls available, there is plenty of opportunity to effectively monetize your content, if you choose the right paywall.
Of course, choosing the right paywall is not always easy, but if you do your research, and you know about your potential viewers, you can get it right. We’re going to take a look at the different paywalls, and what you need to consider when deciding which one is best for you.
Making sure you know your audience and your product
Before you decide on which paywall is the best for you, you need to know about your viewers and their viewing habits. How do they view your content, on mobile or non-mobile devices? What sort of content would they be willing to pay for? How dedicated are they to your content already?
Once you know all of this information it makes it a lot easier to make an informed decision on which paywall to use.
According to the graph bellow, the curve shows the people are ready to pay for their premium content, if the quality is there.
What types of paywall are there?
It stands to reason that you need to know what paywalls are out there, and what they would mean to you, before you decide which one you want to use. We’re going to take a look how the guys from MPP Global segmented the different paywalls and in what circumstances they may be of most use.
It’s not difficult to tell from the name what a hard paywall is. Employing a hard paywall means that all of your content is available only by payment. If you are going to opt for this type of paywall you need to be very confident in your content, and the appetite of consumers to pay for it. This paywall is only really a good option for you if you have a really strong market position.
The most popular paywall to use is a soft paywall which enables consumers to view a certain amount of content before they are prompted to pay. Viewing can be metered in several different ways, including by the amount of time, or the amount of pages viewed. This paywall system means that you can offer access to your product to both a casual reader, who doesn’t have to pay to view a small amount of content, and a more dedicated reader who you can charge to view your content on a regular basis. A further benefit of this type of paywall is that using a metering system means that you can measure the behavior of consumers:
- How often do they view your content?
- How much content do they view?
- What device do they use to view your content?
- How can they be persuaded to become a regular viewer of your content?
Another commonly adopted paywall is the freemium paywall, which means that consumers can view your content free of charge, but have to pay for any premium content they want to access. This system offers the benefit of attracting consumers to your content free of charge, where they may then be attracted enough to pay the fees required to watch premium content.
If your aim is not to directly monetize your content, but to monetize indirectly by promoting your product, and/or by collecting consumer information, you have the option to use a data, survey or share wall, which in turn require the viewer to provide information, answer questions and share content across social media, in order to access content.
So which paywall is best for you?
There is no one size fits all when it comes to paywalls, you need to decide which one is best for you, based on your circumstances. If you’re already confident that you have a dedicated audience for your product you may want to use a hard paywall; whereas a soft paywall allows you to attract consumers with free content, then charge them if they want to continue viewing. A freemium paywall allows you to make a decision as to which content you want to offer free of charge, and which you want to charge for. Knowing all of this should help you to choose the right paywall, and of course you also have the option of opting for a data, survey or share wall for a more indirect method of monetization.
As tech pioneer in monetization of video content, we are proud to establish our InPlayer Paywall as a default software layer for companies and entrepreneurs working in entertainment. The Paywall is one of the most simple and flexible solutions on the market that can be integrated in any environment. If you look for a technology partner for selling your content, reach us out at email@example.com.