Have you ever tested your business model
How PressPad Converted into Platform For Building and Marketing Mobile Magazines…
PressPad used to be a digital publishing start-up. But last August we found incredible market fit, and PressPad converted into a platform for building and marketing mobile magazines, something rather opposite to First Look Media.
We make mobile magazine apps for free to our publishers. In exchange we cut off some amount of value from magazines’ monthly earnings rather than charging a flat fee.
This new business model of our digital publishing software platform paves the way we develop our product and community of publishers. We teach them app marketing, we give them proper marketing tools (i.e. Facebook Newsstand, Smart widgets, auto-updating landing pages) and sales tools (i.e. Push notifications, e-mail notifications, and soon to come social media publishing tools). We also try to leverage their efforts providing our big-data analysis.
Paul, our co-founder said in latest interview:
I never thought we would actually test business models, but we did. And in August of last year we stumbled upon something very interesting. One of our tests tripled our number of customers in a week.
Now, we are to the publishers what HubSpot is to online business - an all-in-one mobile marketing platform. It's amazing how positive feedback we get from the market.
Publishers and even marketers seem to be waited for such a model because it decrease entry barrier to the digital publishing world almost for everyone. From wanna be publishers, through local titles which may now monetize in app stores becoming rather a glocal than local, to a publishing start-ups which want to jumpstart to test the market.
In just a few month we keep 2% of Apple Newsstand — and Apple itself has started reviewing our mag apps in batches.
What's more important it seems that our approach to digital publishing have some not a trivial social impact. It is because PressPad provides the whole publishing platform which allow people from all walks of life to make living on publishing about things they are passionate about, and which are important to members of their communities.
We also give away our product and brand in the purpose of building a local publishing ventures. For example there might be a fellow in African or Asian country who can open his own, local venture offering PressPad to his country fellows publishers.
First Look Media seeks to reimagine journalism for the digital age and PressPad stays at the second side of the mirror reimagining digital publishing for The New Entrepreneurial Age.
I am so passionate about what we do and wondering what do you think about our approach?
Thank you for reading. It will mean a lot to me if you press “Recommend” button and — if possible — share it within your circle of friends.
~ Wojciech Szywalski / @wojteksz