The Secret Power of ‘Read It Later’ Apps and How to Build a Successful Consumer Subscription Business

The Secret Power of ‘Read It Later’ Apps and How to Build a Successful Consumer Subscription Business

Reading is often seen as a leisurely activity, a way to escape reality and immerse ourselves in the thoughts of others. But what if I told you that reading is actually a source of competitive advantage in the world? In today's fast-paced society, the ability to sit quietly and direct focused attention for sustained periods of time has become increasingly scarce and therefore, valuable.

Google conducted a study and found that increasing the number of search results per page from 10 to 30 only took half a second longer, yet it caused 20% of people to drop off. Our attention spans are dwindling, making it more difficult to engage with long-form content. The fear of cognitive dissonance, the unease we feel when faced with unfinished tasks, prevents us from even starting a long article or book.

This is where 'Read It Later' apps come into play. These apps, such as Pocket, allow us to save articles, blog posts, and other content to read at a later time. They act as a task manager for our reading materials, helping us organize and prioritize what we consume. But not all 'Read It Later' apps are created equal. Pocket, for example, is not ideal for organizing highlights and key passages. Instead, it is better suited for saving and archiving content.

So how can these apps help us increase consumption of long-form content and better filter what we read? By utilizing these apps, we can create a pool of options drawn from a longer time period. This allows us to make decisions from a higher perspective, aligning our choices with what truly matters to us. Instead of mindlessly consuming information, we can be intentional about what we choose to read and learn from.

Moreover, these apps enable us to assimilate and build on the ideas of others. Ideas are powerful agents of change, and when arranged in highly cross-referenced networks, they become even more impactful. The human brain is the only tool capable of creating and accessing these networks on demand. By using 'Read It Later' apps, we can curate a collection of ideas and insights from various sources, allowing us to learn faster and incorporate the lessons learned by others.

Now, let's shift gears and explore how to build a successful consumer subscription business. Single-product solutions often struggle with long-term retention without the network effects that come with a larger user base. If network effects don't make sense for your product, launching new products can help monetize your existing customer base and open up new customer segments.