Like the shifts in our everyday lives, the pandemic has created significant shifts in consumer behaviour and we’ve seen many subscription businesses experience huge increases in subscribers during this time. As we gradually move towards the end of the lockdown, one question these organisations should be prioritising is how they can retain their new subscribers after the crisis.
In this timely webinar Katie Bloor and Matt Robins, from the team here at Daydot, shared innovative ways brands can craft digital experiences focused on subscriber retention and increasing their lifetime value.
We were also delighted to welcome Rich Rowe from The Telegraph to our expert panel as we hosted a Q&A discussion. You can check out the full video above and read the speaker roundups below.
Head of Commercial Growth, Daydot
Joel kicked off the webinar, setting the scene by diving into retention. He highlighted the ways in which customer behaviour will have changed in light of the recent pandemic and how to maintain competitive advantage by keeping your brand, services, and products relevant and engaging to your audience post-lockdown.
- Whether your business has benefitted or lost out from COVID-19, both brand and consumer will be living in an 'Extreme Economy' for the foreseeable future.
- The previously consistent economic and consumer lifestyle baseline of certainty has changed almost overnight.
- There are new customer behavioural criteria that you need to accommodate and optimise for.
Head of Optimisation, Daydot
Katie explored the post-lockdown landscape, illustrating that when lockdown eases, the needs, motivations and habits of new subscribers will change rapidly. She shared her advice on the steps brands should take to drive deep engagement with their product and foster long-term customer connections.
- Subscription brands need to be creating long-term habits in new customers now. If they don’t they risk an influx of churn post-lockdown.
- Currently many subscription brands are positioned towards the top right of the habit zone (product has a high perceived utility and usage frequency). Brands need to capitalise on this opportunity now.
- By exploiting the insights gained through qualitative and quantitative analysis brands need to start modifying customer experiences through experimentation to create new habits.
Senior Designer, Daydot
Matt focused on the importance of putting the customer at the heart of the creative process. He demonstrated how brands should design according to customer emotions, attitudes, behaviours and habits, to create connection and exceed their expectations. Delving into the details with real-life examples to show best practice, Matt showed how consumer-centric design is the way forward post-pandemic.
- Spark initial engagement using novel creative and attitudinal testing.
- Rewarding engagement with interactivity can create powerful feedback loops.
- Empower user agency with tutorials and the ability to choose.