Analysts are your greatest asset, so why hide them away? You could deepen trust, increase revenue, and discover new customer insight by making it easier for subscribers to contact analysts via your content management platform.
Information consumers have little patience with digital services that don’t meet their needs. A slow-loading website, overly long forms, or multiple window journeys cause frustration and prevent users from completing the task they set out to do.
When a subscriber consumes your content, they may have questions. It may occur to them that an analyst could answer this question for them. But, to access an analyst, they must first find the contact page, perhaps complete a form, or worse: navigate a company switchboard.
Hunting for contact details takes effort and time that they may not have or are unwilling to commit to at that moment. Your subscriber will move on to another task, perhaps feeling frustrated or disappointed.
Now imagine the same subscriber opening a chat window or clicking on an analyst’s profile and sending them a direct, instant message. The analyst can answer questions more quickly, leaving the subscriber feeling that they are a valued customer and satisfied that their question has been answered.
Analyst enquiries are the starting point for relationship-building and revenue-generating opportunities. But they come at a cost, so they should not become a substitution for poor site search or organisation. The aim is to open conversations that strengthen the relationship and subsequently increase the chance of retention – not for your analysts to be inundated with mundane questions.
Here are four key reasons why you can’t afford to have inefficient subscriber-to-analyst communication:
1. Busy businesspeople seek information from analysts they can trust
Direct contact between analyst and subscriber is essential for developing trust. Consumers of market intelligence are often time-poor senior business leaders who need reliable data and opinions at their fingertips.
Yet, ironically, the proliferation of content has made finding quality information harder, not easier. Add to this the growing volume of content written by Artificial Intelligence, and it’s becoming ever more difficult to identify research produced by genuine industry experts.
Analysts, therefore, are highly valued and effective sources of information. According to Financial Times research, analysts are the most effective source of market intelligence for strategic decision-making by Directors (57%), C-suite (54%), and Chairman (51%). They are considered more important than other sources of information, including global media outlets and own-commissioned research.
As trust in the analyst increases, confidence in the organisation also increases, potentially resulting in additional revenue-generating opportunities.
2. Increase revenue outside of business-as-usual subscription services
One-off queries are the ideal opportunity to investigate a subscriber’s exact content requirements. This could include selling more of an analyst’s time, a commonly under-utilised asset.
For instance, one enquiry could lead to a paid-for 30-minute discussion that provides more insight into report findings. It could also pave the way for analysts to offer briefings alongside and to support new report sales.
From an initial enquiry, more considerable revenue opportunities can be generated, including commissioned consulting work, training, or membership events. One Publish Interactive customer, for example, secured a $300,000 consulting project following an ‘Ask the Analyst’ query through the platform.
3. Grow Per-Account Value
The additional revenue generated from the sales of services, such as analysts’ time and consulting commissions, increases the value of each account.
Many market analysis publishers believe the path to sustained growth lies in increasing customer numbers. Yet, by improving Per Account Value (PAV), publishers can reduce their reliance on costly acquisition tactics to maintain growth.
Creating a smooth subscriber-to-analyst communication pipeline allows market analysis publishers to take advantage of these PAV-growing activities. After all, if subscribers can engage with your content on a human level beyond the words on a page, the value they see in your service will grow. This, in turn, will ensure retention and help you stand out from other content providers.
4. Unlock customer insight
To stand out and grow PAV, publishers must provide a dynamic content service to customers by understanding the topics, trends, and content formats that deliver value to their subscribers.
Customer insight is essential for developing new products that meet the needs of today’s fast-paced organisations. Combined with platform analytics data, you can gain powerful insight into how your customers use your service.
These insights can inform future content commissions or even lead to improvements to your overall service, such as the optimisation of information discovery journeys.
Smooth the Subscription Curve
Facilitating smooth communication between subscriber and analyst requires little effort from the publisher but generates value for both.
Subscribers can extract more value from their subscriptions, leading to increased trust in and reliance on your services. Content dependence moves subscriptions from a ‘nice to have’ to an essential tool your customers can’t do without, which in turn smooths renewals and reduces churn.