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Job Description
At Hearst UK subscriptions are a vital area of our consumer revenue mix and we have ambitious plans for future growth with the imminent launch of several new digital subscription and membership programmes, to sit alongside our all-important print subscription products. This role supports the Head of Subscription Strategy in managing the revenue and profitability of our consumer products and services. You will achieve this through a focus on all of the drivers of the subscription P+L; in particular pricing, acquisition planning, and LTV modelling. You will use the wide range of data sources and reporting tools that are available to you to make effective decision to drive our subscription businesses forward.
About The Role
- To be an ambassador of Hearst UK and its values.
- You may be required to undertake such further duties as your skills, qualifications and experience allow and/or as may be assigned to you from time to time. Scenario planning and Target setting
- Work with the Head of Subscriptions in setting subscription business targets for volume, revenue, and contribution, by brand and by product, with a clear understanding of the impact on both short-term and longer-term business goals.
- Ongoing management of the subscription P+L and associated business reporting, working with a range of KPI’s to track and interrogate performance.
- Using all available data and reporting to identify trends, areas of opportunity and risk, and offering up solutions to make improvements. Pricing and LTV
- Using LTV models to calculate optimum offers and renewal pricing by brand and by product, and potentially by channel.
- Coordinate an LTV testing programme, building knowledge around response, price elasticity, and first-time churn, ensuring we are making the optimal decisions around offer selection. And then keeping results fully tracked and regularly updated and enhanced as required.
- Work with the Head of Subscriptions to manage pricing disciplines across market price, offer price, renewal price, and step-up price.
- Liaise day-to-day with the Customer teams and fulfilment bureau on the briefing of pricing, campaigns and GWP, as well as ensuring that discounts and BAR rates are always kept up to date. Acquisition Planning
- Creating the optimum targets for acquisition volume, acquisition revenue, and acquisition spend, by product and brand. Giving consideration to LTV work around churn, pricing / offer, CVR, and cost to serve.
- Working collaboratively with the Customer Acquisition team to understand the timing and objectives of specific campaigns, feeding this into the thinking when setting the targets and phasing.
- Detailed interpretation of weekly acquisition reporting, to give clear performance insights across volume, order value, offer type, contract type etc, to continuously provide recommendation and solutions to further improve performance.
- Actualise acquisition volumes and spend on a monthly basis and highlight any irregularities or risk. Manage GWP spend and track CPAs at channel and offer level.
- Ensure that the latest acquisition trends and volumes are factored in when setting print orders. Retention
- Build a clear understanding of churn and the drivers behind it
- Track and forecast churn and cancellations and provide the Customer Value team with regular insights
- Work with the Customer Value team on pricing and testing within the retention programme
About You
- Previous experience working in a subscription department is preferable, where there has been a particular focus on analytics and planning - desirable
- A strong familiarity and understanding of key subscription drivers/metrics such as conversion %, yield, churn, and LTV – desirable Comfortable working with multiple data and/or reporting sources – essential
- A keen interest in business strategy and how insights feed decision making – essential
- An approachable demeanour and comfortable working in a highly collaborative team environment with a variety of stakeholders – essential
- A self-starter with an inquisitive nature that isn’t afraid to ask questions and challenge the status quo – essential
- Specific experience within the news and magazine sector is desirable, but not essential – desirable
- Candidates with experience of a subscription business in any sector will be considered – desirable
What We Offer
At Hearst UK, you can choose from a huge range of perks and benefits that can help you learn well, work well and live well including:
At Hearst UK, you can choose from a huge range of perks and benefits that can help you learn well, work well and live well including:
- 25 days’ holiday (with the option to buy up to 5 additional holiday days)
- Hybrid working – Four days per week in the office
- Discounted gym membership
- Healthcare cash plan
- Spend a charity day with your favourite good cause
- Life assurance and pension scheme
- Regular socials and more!
There’s more to your story than you imagine. And the next chapter begins right here.
Hearst UK is deeply committed to using our influential brands to reflect the world we want to live in – one that respects, protects, represents and uplifts the voices and opinions of all people. As a business, we recognise the significant benefits of creativity, collaboration and innovation that comes with diverse teams. Not only is diversifying the voices in our organization the right thing to do, but it also helps us to make powerful and exciting content that can be enjoyed by many more people. This is why we’re working to build a sense of true belonging within our business and foster a culture in which everyone feels heard.
