Cxense Launches Conversion Engine, All-in-One Solution for Publishers to Grow Recurring Revenue from Digital Subscriptions
Our partner Cxense has announced the launch of Conversion Engine, a new machine learning-powered solution for dynamic paywalls and personalized customer journeys. Conversion Engine empowers publishers to monetize insight into their audience’s behavior and preferences in order to increase subscription revenues. The solution leverages Cxense’s personalization algorithms and user profiles to present the best suited content and subscription offers to engage each reader individually, thereby rapidly increasing subscription conversions.
To ensure optimal alignment with publishers’ needs, Conversion Engine was developed in close cooperation with several Cxense customers, including The Wall Street Journal. Over the past year, the Journal’s approach to its award winning subscription has seen a 25 percent increase in digital subscriptions.
Because of its origins in the day-to-day challenges of publishing, Conversion Engine is able to solve some of the most pressing issues of the industry: How to apply a dynamic paywall in order to grow subscriptions without sacrificing advertising revenue. How to reduce churn by creating closer relationships with subscribers through personalized messages. How to apply advanced data analytics to identify users who are likely to become subscribers. And most importantly, how to engage readers and customers with data-driven, personalized customer journeys and lead them to conversion.
Cxense created Conversion Engine to address a widespread and fundamental change
Right now, publishers are putting subscriptions and memberships at the top of their agenda because they realize that relying solely on digital advertising comes with increasingly high risks and dependencies. Therefore, many want to re-establish a steady flow of recurring revenue directly from readers, build close and long-lasting relationships with subscribers, and lessen the reliance on market-dominating platforms such as Google and Facebook. However, some are struggling with making this change work in practice because they do not have the capabilities to use audience insight to deliver personalized offers to the right reader in the right context, instead relying on one-size-fits-all content delivery and outdated hard or metered paywalls.
“Created to address several of the most pressing challenges of the publishing industry at once, Conversion Engine empowers publishers to more effectively monetize their audience data, easily create personalized customer journeys and establish a recurring revenue stream from subscriptions. Publishers can now reclaim control over how they engage their most valued resource: their readers” says Christian Printzell Halvorsen, Cxense CEO. “Customers who have already implemented Conversion Engine almost immediately experience a significant uplift in conversions. This proves that Conversion Engine can significantly strengthen a publisher’s subscriber and revenue base,” adds Halvorsen.
Now that Cxense is releasing Conversion Engine globally, forward-thinking publishers can join leading brands such as The Wall Street Journal, The Mainichi Newspapers in Japan, and Vltava Labe Media in the Czech Republic, who are already implementing the solution into their long-term plans to increase recurring revenue from digital subscriptions. To date, Conversion Engine already delivers more than 50 million personalized experiences every day worldwide.
Source: Press release