Reuters new app focuses on total time spent
Reuters is taking a less-is-more approach to its new app. Users can now customize their feed by up to 5,000 different topics, including countries, markets and people. Each article is displayed in a card-based feed with short written summaries so users can get the gist without having the read the whole post, and the app will adapt to users over time, sending push alerts at the time of the day they’ve show a willingness to reading them, for example.
The success of the app will now be measured on total time spent in the app per month rather than pageviews — which means that if people read fewer articles, it’ll be considered a success.
“If we’re doing our job well — which is to inform people to make better business decisions — then they don’t need to read five pieces of content to do that,” said Isaac Showman, managing director of Reuters Consumer. “This will impact our pageview numbers but ultimately it will drive better engagement.”
Reuters publishes on average over 5,500 pieces of news content each day, the app is designed to make it easier for people to access this wealth of content. During user testing, 73 percent of respondents said breaking news coverage was the most important feature, and 45 percent said scannable headlines were. According to Showman, it has already doubled user sessions and has grown weekly engagement to 18 minutes.
The new app was a big investment for the financial news and information publisher. About 60 people worked on the app over the last 12 months, including content strategists, product specialists, developers and sales teams. Reuters has six data scientists analyzing app-user profiles, supported by engineers who work on all Reuters Consumer products.
Customization can feel creepy, the app will carry contextual advertising, but as long as the editorial content is useful, users aren’t likely to notice, said Greg Harwood, director at strategy and marketing consultant Simon-Kucher & Partners. “They would probably walk away with an improved user experience.”
“It all comes down creating habit and getting the right content in front of you, encouraging people to visit a second and third time rather than spending 20 minutes in the app playing a game,” he said. “Historically, publishers flagged those most likely to convert as those spending the longest in app, but people will convert if you maximize the relevant engagement, not just engagement.”
The app also represents a deliberate shift from Reuters in focusing on business professionals rather than a general-news audience.
“Publishers have been concerned with maximizing the size of the audience because it’s tangentially linked to the value of selling advertising,” said Harwood. “In a world where ad yield is going down, there’s been a change of focus on quality audience, and advertisers are going to market with this.”
‘It’s a virtuous cycle’: Audiences and advertisers seek health and wellness content and publishers are seeing green
Publishers are building new content products that give audiences more health and wellness content and advertisers more partner opportunities.
Election-focused products charge U.S. growth at The Economist
The brand's focus is covering the upcoming election, building up the leadership team and creating an aggressive three-year growth plan.
‘Necessary, but insufficient:’ Advertisers are starting to question the value of low exchange fees
Large changes in bid price can often produce small changes in an advertiser’s ability to win those auctions.
SponsoredB2B events were broken before the pandemic, their online reinvention is creating positive change
Kim Darling, executive producer, Inbound Farewell lanyards, business cards and branded pens — it’ll be some time before people get their hands on these souvenirs of in-person events again. As the COVID-19 pandemic continues to transform the way people work, buy, sell, socialize and entertain themselves, the global events industry is facing its biggest-ever challenge. […]
‘One beat in an ongoing movement’: BET+ general manager Devin Griffin on the streamer’s evolution
Pre-launch research for BET+ found a lot of demand for content focused on Black stories and experiences, but 'the supply is not quite right.'
‘Gives us more control’: To grow revenue, Schibsted built its own podcast platform
Publisher's goal: Learn more about podcast usage, experiment with how they drive subscribers and ultimately earn more ad revenue