Fairfax Media- The Store
Media associated with this campaign
Overview of this campaign
With print and advertising revenues in decline, diversifying consumer revenue beyond subscriptions was becoming increasingly critical to the success of Fairfax Media. We looked at our two key assets – a monthly audience of 11.3 million people, and trusted creators of quality content – and saw an opportunity to leverage the two, diversifying our revenue streams by launching a successful single e-commerce destination.
Our objectives were:
- Diversify consumer revenue beyond subscriptions
- Increase traffic to the Fairfax Media e-commerce offering by 200%
- Monetise the Fairfax Media audience via e-commerce
- Grow e-commerce revenue by 200%
Many publishers have e-commerce stores, with limited levels of success. To make a tangible impact on revenue we needed to convert an audience that was visiting our sites intending to read the news, into valuable online shopping customers. This needed to be a seamless experience, which led to our breakthrough idea, ‘content-driven commerce’, and a distinct e-commerce brand – The Store – to suit all Fairfax publications.
Research demonstrated that our audience values quality over excess: timeless clothing, collectable art, cool gadgets and home wares by emerging designers. The Store by Fairfax was curated by design experts from our various publications; the design writer from the Australian Financial Review, the fashion and lifestyle editor of The Age, and the art director from The Sydney Morning Herald’s Sunday Life magazine, for example. We used their expertise in content and curation to bring to life a store that contained only items that came recommended by our trusted journalists. Having a single e-commerce destination harnessed the combined size and spending power of our total audience, maximising traffic and encouraging browsing across categories, driving incremental spend.
We ensured consistency with the quality our audience expected from the Fairfax brand, and provided a service that they couldn’t get elsewhere.
Through the power of our trusted curators and their recommendations plus expert quotes on every product, we created a marketing platform for 3000 unique products and, using the drop-ship model, made a commission of 30% on every sale, keeping people on our site rather than driving them to other sites to purchase.
Results for this campaign
In just seven weeks The Store has achieved the following results:
- Diversified consumer revenue beyond subscriptions
- Increased traffic to the Fairfax Media e-commerce offering by 300%
- Monetised the Fairfax Media audience via e-commerce
- Grown e-commerce revenue by 700%
Through harnessing our two key assets – a large audience and experienced content creators – we created an online store that has quickly become a trusted shopping destination for the Fairfax audience, developing a completely new revenue stream for a traditional publishing business.