Seeking to improve retention metrics?
Enhancing subscription services could be the answer…
Subscription services are disrupting the retail and CPG landscape at a growing pace across a variety of categories because it’s just easy for consumers! Once consumers connect with a brand experience that solves a paint point, why waste the brain juice to re-order. Just set it and forget it.
For consumer brands (and investors evaluating potential acquisition or investment targets), the recurring revenue from a subscription customer is far more predictable that a “once and done” customer.
Brands cannot “set it” and “forget it” with this customer segment or churn will likely increase.
Successful brands with subscription services and products are investing as much in retention marketing as they are in new customer acquisition. A big part of this is understanding reasons for cancelations and inserting touch points throughout the flow to reduce customer churn.