Reduce Email Subscriber Churn for Subscription Services by Building Customer Loyalty
If you are using a marketing automation platform like Pardot or Marketing Cloud, managing your subscriber base is a vital part of ensuring your organization receives the maximum return on investment for your marketing and CRM platform. Email subscribers value the flexibility, convenience, and value they get from email subscription services but they often aren’t loyal enough to provide a steady and dependable income stream. What can a company do? How can you have an accurate pipeline view when your subscriber income varies from month to month?
By improving loyalty you can reduce your churn rate and create an income stream that you can bank on in your pipeline.
A 360 degree customer view helps you keep subscribers loyal by meeting all their needs and keeping them from shopping around to your competitors for less expensive goods or services.
Customers want flexibility. A one size fits all subscription service - whether it is for coffee or streaming video - doesn’t really fit anyone anymore. And unless you have located the only niche market for your box of the month club or other subscription service with no competitors, you have to provide the best value for every subscriber that you want to keep.
Customer service is key as well. A great bang for the subscriber’s buck is important but if that same buck gets them a better variety or better bundle or better box they will still lack the loyalty to stay with you month after month. In fact, 72% of respondents who subscribe to streaming services cited customer service as very important or fairly important to their decision to stay with a service provider. Ideally you should provide stellar customer service with live call center and robust digital options.
Every time your subscribers watch content or receive a subscription box it has to wow them if you want to keep them coming back for more. Under promise and over deliver is truly the mantra in today’s subscriber based marketing economy. Giving subscribers the option to select the most important or interesting options each month increases loyalty and lessens churn. Stand out above your competitors by offering options to pause or resize a subscription rather than leaving you altogether and you can further lessen your churn rate.
Finally, you have to deliver a great value for the money. If your subscriber opens their box only to find they spent $99 for items they could have hand picked and purchased themselves online for less than that, their loyalty may be lost as is their faith in your company.
Achieving this level of service requires CRM tools with an integrated platform that incorporate marketing, sales, customer service, and support effortlessly to everyone in your company who interacts with your customers.
Back to that 360 degree customer view. Managing customer churn starts with identifying new and more ways to improve the subscriber’s experience. Salesforce’s fully customizable database and their powerful CRM Analytics tool enables you to walk through your business through the subscriber’s eyes. The more data you have at your fingertips about the people who spend money with you every month trusting you to provide them with a valuable and enjoyable experience the better you can meet their ever changing needs. Keep meeting their needs, you can reduce churn by improving their loyalty.
Summit Technologies has been providing custom Salesforce integration projects with over 40 years of CRM experience designing sales and marketing automation solutions to help businesses just like yours grow.
The right customer data platform will integrate your subscriber preferences and interactions across your company, across social media, and across your non-native Salesforce platforms. With a comprehensive, 360 degree view you can better understand the subscriber’s needs and go beyond personalized messaging to providing amazing consumer experiences at every touch point.
30% of subscribers say they stay with a subscription service because of the overall experience the company provides them. Subscribers typically have a high expectation for customer service and ever increasing competition is likely to keep it that way. A fully integrated platform approach gives you a complete view of a customers’ purchases, service interactions, preferences, and expectations from your company. With an arsenal of data-driven insights, you can create intelligent strategies that boost retention. Add on the power of Einstein Analytics and you can foresee issues before they become issues delivering better than expected experiences for subscribers month after month.
Let Summit Technologies take the guesswork out of creating loyal subscribers. Contact us today and start reducing subscriber churn by improving loyalty with your own custom CRM solutions. We go out of our way to keep our customers loyal, too.