How subscription-based marketing can be a key tool in your digital strategy
Wednesday, December 02, 2020
As a digital/social media marketer, you know that an especially crucial task for your brand, as it moves through the pandemic and beyond, is customer retention. Your goal in this respect is to engage your existing demographic's interest in your products and services so they stay loyal and give you the repeat business you need.
You also want to keep attracting new eyeballs to what you have on offer. An excellent way to accomplish all of this is with a subscription-based marketing strategy.
How is this kind of approach defined, simply? Subscription-based marketing offers your customers total convenience, comfort, and price stability if they agree to sign up to receive your products and services on a regular basis.
If you do it right, you'll be rewarded with loyalty. Keep in mind that, according to Voluum, it's safe to assume that any given customer considers unsubscribing from a service one or more times a month, so you want to give your base what they want and need…which is a lot easier than you think! Here are five essential moves you need to make when it comes to using subscription-based marketing for maximum profitability:
Lead with freemiums.
Potential subscribers are always eager for a sneak peek of what you have on tap before they commit. According to data from ProfitWell, the right way to do this is by giving them an overview of the benefits your services offer. Make sure this inside glimpse comes with a real "wow" that your potential customers can't refuse.
Say you're marketing a streaming service. Cost-free access to an extremely hot new movie that would have premiered in theaters but has been held due to COVID-19 is an excellent way to do this. Think about the excitement around recent streaming film launches, such as what Disney did with “Mulan” this past summer, and what HBO Max is about to do with “Wonder Woman 1984.” You can give your existing customers freemiums to reward them as well, such as free behind-the-scenes features or giveaway brand merchandise.
Create the right kind of subscriber list.
According to data from DaBrian, you want to have customer contact info in one convenient place so you can contact your subscribers ASAP regarding product availability issues. That kind of text or email is essential. You also want to link survey feedback you get from your customers, with their consent, to individual subscriber profiles, which makes personalized ad campaign targeting an immediate no-brainer.
Make every contact with your subscribers indispensable, in that every text or email you send them solves a problem they may have, or answers their questions before they can even ask them.
Send fun content contact.
Keep your subscribers excited about your brand with daily emails that offers BOGOs, discounts and interesting inside looks at how the sausage is made at your brand. Introduce your customers to your CEO and staffers and put together some engaging video footage of your company at work for its customers.
You can also keep the members of your mailing list interested in your brand through links to vibrant blog posts, plus through entertaining and useful product demos that show them new ways your goods can make their lives easier.
Offer the widest range of consumer options possible.
Your subscribers should get easy access to everything in your brand line, whether they decide to purchase it or not. It's crucial to make them feel they can purchase it any time they want — that creates the impression you're serving any potential need they may have, 24/7.
You also want to make sure your subscribers hear about new products you're launching from you before they hear about them via their social media tribe or through the media. That sense of exclusivity is worth its weight in gold. Then make sure those new products are readily available for them to buy immediately. Make your subscribers feel like insiders, and they will stick around for more.
Welcoming back former subscribers with open arms.
A periodic friendly and personalized email or text that lets former customers know you miss them and still want their business is a great olive branch. It's fine to ask for feedback as to why a subscriber cancelled, but do it with a light touch. Never pile guilt on your former customers or be aggressive. Once you get some consensus as to why your subscribers left, you can take action to remedy any customer satisfaction issues that appear to be a pattern or an issue that is holding your profits back.
Then, let your former customers know you have listened to their concerns. The bottom line: the right way to engage through a subscription-based approach is always by letting your customers take the lead. It's the best way to discover what you need to do to retain business — and boost your sales now and for the future.
- Food & Beverage
- Association Management
- Business Management, Services & Risk Management
- Recreation & Leisure
- Science & Technology
- Travel, Hospitality & Event Management
- The dangers of mixing up 5.56x45mm NATO and .223 Remington rounds
- How to properly sight in a rifle with a scope
- Breaking down barriers to make career and technical pathways accessible for everyone
- Battery issues: Understanding your RV’s electrical systems
- 8 exercises for strengthening your business writing
- The advantages of using a .45-70 cartridge
- How employers are helping employees reduce student loan debt
- Report: Only 6% of US companies offer comprehensive child care benefits
- CES 2021 highlights the federal force behind a new era in technology
- 10 simple reasons companies keep failing at strategic execution
- Governance: Plain and simple
- Study: How job seekers’ social media profiles affect employability
- What to see and do in America’s newest national park
See your work in future editions
Your content, Your Expertise,
Your Industry Needs YOUR Expert Voice & We've got the platform you needFind Out How