2020 was a year of super-charged subscription. Everything changed, including the digital habits of users, with people consuming content like never before. Initially, there was a worry of churn but with repeated lockdowns and uncertainty, this hasn’t come to fruition. So, the key question of 2021 then is how can publishers retain these customers and drive true brand loyalty?
Many brands focus on acquiring customers (and rightly so) but when increasing retention by just 5% can increase your overall profits by 25%-95%, it’s crucial to consider the whole customer lifecycle.
Our latest event, in partnership with the Professional Publishing Association (PPA), explored strategies to boost your recurring revenue through digital experience optimisation. We bring this to life with real publishing examples and case studies from our extensive partnerships with global subscription brands.
Did you miss the webinar? Don’t worry! You can catch up by watching the webinar recording above or the written roundup below.
At the bottom of this page there is the option to stay informed about Daydot events – we hope to see you there!
Head of Optimisation, Daydot
Acquiring a new customer is 5 times more expensive than retaining an old one. So what can you and your brand do to drive subscriber retention? Katie Bloor, the Head of Optimisation here at Daydot, shared the 8 steps you can take to decrease barriers across your organisation and increase retention. By utilising digital experience optimisation to optimise across the entire customer lifecycle (not just acquisition where it typically focuses) you can achieve greater profits and greater customer connection in 2021.
Check out the video above if you want to hear the 8 steps in full and kick start your retention strategy today.
- When you have a subscription model only 5-30% comes from initial sale; 70-95% comes from renewals and cross-selling.
- Eradicate assumptions with customer insights you can action, create consistency across comms and be relevant at every touchpoint.
- Just get started! If you don’t have the data, start with something; if you don’t have budget start by developing a proof of concept.
- Communicate with your customers. Regular communication drives customers to your website, increases engagement, and gives opportunities to upsell.