On my recent trip to New York, Condé Nast shared how they’ve developed a multi-layered membership ecosystem designed to drive loyalty, connection and higher lifetime value. Of course, I was hooked. So I followed up with Director of Global Consumer Revenue, Holly Johnson, to find out more about this shift from a volume-based model towards deep engagement and loyalty.
Catch up quickly:
- Condé Nast is one of the world's most renowned media companies covering a wide variety of genres, including The New Yorker, Vanity Fair, Vogue, WIRED, GQ, Architectural Digest (AD), and more
- To build belonging amongst their most loyal audiences, the team have created a "Membership" tier that sits above subscription
- The value exchange here is two-way: Members are active participants contributing data, feedback, and engagement. They expect to belong to a community.
- This strategy is paying off: a member has an LTV (Lifetime Value) up to 50 times higher than a subscriber, amongst other benefits listed below
A holistic, inter-connected ecosystem
Condé Nast views its portfolio of brands not just as publications, but as Intellectual Properties (IPs). The fundamental strategic question guiding all development is: “Where does this brand have permission to play?”
The team aims to leverage the brand’s authority across the entire consumer lifecycle, tapping into different value exchanges (and thus revenue streams) to build an inter-connected eco-system. A consumer may start as a commerce customer, then event attendee, subscriber and eventually a member. This breadth not only builds a consumer’s affinity to the brand, but also ensures sustainability and flexibility in a challenging market.
