With the desire to create a magazine for all members that would engage a previously largely unengaged membership, ICAEW took the brave decision to deliver on its promise to create an editorially independent magazine.
In print, online and mobile
With an ABC-audited circulation of 130,452, economia is the UK’s largest monthly business magazine by circulation, reaching an influential audience of CFOs, FDs, bankers, business leaders, politicians and accountants in practice. Editorially independent and commercially robust, economia is supported by an up-to-the-minute, news-based website, a weekly e-newsletter and a monthly app.
It has been incredibly effective and is central to ICAEW's member marketing strategy. Currently economia is ICAEW's only regular all-member communication. Readership research showed an average read time over 53 minutes for each issue (against a market average of just 24 minutes), while approval scores for relevance, well-written content and authoritative insight range from 84% to 91%. Importantly, 82% of members consider economia to be a valuable part of their membership.
Today's readers need access to content whenever, wherever and however they want. The app allows them to do that, adding value for ICAEW's membership. Harry McAdoo, director of communications at ICAEW, says: "Launching the economia app has been a natural step and Progressive has helped deliver a market-leading product for a cost and timescale that was superb. It has given members another valuable way of connecting with economia, which helps them in their role, whether that’s in business or practice."
Progressive Content opted for a dynamic design that gives readers the kind of high-quality user experience the brand represents. As well as offering readers and advertisers this great experience, the app allows Progressive Content to produce supplements for ICAEW for a lower cost than printed publications.
With 26,000 unique subscribers it has consistently been in the top 10 titles in its category on the Apple newsstand (business and investing) and has some of the highest user ratings in the market.
A trusted news source
So often, customer magazine websites run the print product on screen. This doesn't add value, offer extra content, or utilise the power of the web. Working closely with ICAEW's in-house team, Progressive Content developed an interactive, news-led site, which extends the brand. Offering up-to-the minute accountancy and finance news, with targeted digital content including exclusive videos and podcasts, the site actively encourages readers to comment on and join in the debate.
It has transformed the online accountancy news environment and quickly become a trusted source for news, views and updates on the profession. It has been incredibly effective and is core to ICAEW's member marketing strategy.
The site gets 90,000 unique users and over 100,000 page views a month with site traffic growing 39% year-on-year. Since launch, it has received over 3,000,000 page views, half of which came in 2014 when that figure topped 1,500,000. A weekly newsletter (economiasevendays) has over 40,000 subscribers and achieves 40% open rates and 25% click through rates. There are over 6,000 followers on Twitter, 1,066 LinkedIn members and 1,195 Facebook followers. Traffic from social was up 62% in 2014.