Increase Subscription Member Retention with Subscriber Emails: Lessons from the Subscription Boxes

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Lessons from the Subscription Boxes

While there’s nothing more exciting than when that monthly subscription box arrives, there are a lot of days each month between subscription boxes. These are days when your customer receives their credit card statement, which is often larger than they expected. And she may be tempted to try to trim her monthly expenses, possibly sacrificing the monthly box she loves. How do you avoid the chopping block? Obviously, by making the box experience surprising, engaging, and pleasant. But that’s only one day a month. What about all the other days? The first answer is subscriber emails. Unfortunately, there appears to be two extremes in the subscription box industry — either few emails or a deluge. Too few can be zero. Or perhaps no emails beyond the administrative billing and shipping confirmations. Where’s the excitement in that? Most often subscription box companies deluge their subscribers with offers, promotions, and the mundane. … Continued

The Four Essentials of Subscription Box Member Retention

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The Four Essentials of Subscription Box Member Retention

Unless your members are renewing, your subscription is like a leaky bucket, with water escaping faster than you can add more. The key to success for any subscription box business is the ability to retain subscribers. I caught up with seven of today’s fastest growing subscription box companies to discover what they are doing to stop members from quitting and improve lifetime subscriber value. Let’s take a look. My first business mentor taught me that even though I may have answered the phone 100 times today, and answered the same question 100 times, for the next member who calls, that’s his first time asking that question. It’s my duty to perform and provide that member with a great experience. For Brick Loot, they agree that the key to retaining subscribers is offering top-notch customer service. When asked, the president of Brick Loot, Erin Krex, told me: “We have excellent customer … Continued

Why Donald Trump Won’t Make America Great Again and Neither Will Trump’s Critics

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Donald Trump identified a silent movement of fear and loathing within white America that delivered him to the White House. But, Trump didn’t invent fear-based movements; he’s simply a current practitioner. There’s evidence that fear has been used to lead and control people since the beginning of human history. The primary purpose of public crucifixions for Roman emperors was to make subjects fear the authorities. In the 19th century, whites in the South justified killing blacks by sowing the fear that they would rob whites or dishonor their women. And today, Donald Trump is using the fear of Islamic terrorists to order a travel ban. He’s stirring fears of Mexicans taking American jobs, burdening our hospitals with unpaid medical care, or taking advantage of welfare to justify building a wall. He claims news reporters who write unflattering stories are mentally unbalanced people with an agenda. Many of Trump’s critics are … Continued

You Don’t Have to Fight Churn Alone, Instead Create a Community

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Community fights churn

How many times have you picked what looked like the fastest line at the grocery store, and it turned out to be the slowest? Argh! Isn’t it frustrating? Today we are in the “subscription economy” or the “membership economy.” Growing a subscription business is the fastest way to scale a successful business. Or so it may appear at the outset. Fact is, most approach the subscription business in a transactional mindset. They offer their thing on a monthly basis. This trips up too many. They believe they are getting into the subscription fast lane, only to discover later — perhaps years later — that they’ve been futilely building their business in the wrong way. What was supposed to be the faster line turned out to be the slowest, most frustrating path. Even with the hundreds of tools available today to create an engaging and vibrant community, too few subscription companies … Continued

3 Biggest Lessons of 2nd Quarter of 2017 To Help Stop Your Members From Quitting

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stop members quitting

I had the pleasure of visiting Bonn, Germany, for full week to work with the team at VNR Verlag für die Deutsche Wirtschaft AG. I conducted a seminar on Monday with more than 50 members of the team. Then, Tuesday through Friday, I conducted workshops with nine different publishing divisions from family magazines, health, financial, and technology publications. While everyone on the team is wonderful, Katrin Frößler, Daniela Birkelbach, and Stanislava Albert-Stoykova, pictured from left to right, are clearly my favorite members of the team. I’m wearing a T-shirt representing the guru for their fitness publication, Thomas Wessinghage, a German celebrity and former Olympic athlete. Over the last three months, I’ve been from coast to coast in the U.S., Germany, London, and Ireland to stop members from quitting. Wherever there are members quitting, I’m going to respond to stomp out high churn and make running subscription businesses fun again. During … Continued

How Much Money Do Failed Credit Card Transactions Cost You Each Month?

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How Much Money Do Failed Credit Card Transactions Cost You Each Month?

I remember, early in my monthly continuity days, waking up on the first of the month, looking at my Blackberry, and seeing hundreds of emails from my credit card processor — one for each transaction, indicating all of the credit card pre-approved subscription payments getting processed for the month. It was a moment of sweet appreciation. Even now, as I see the monthly credit card charges flow through, I take a few moments to express my appreciation for the members who have confidence and faith in me to subscribe. It’s an honor. Then it all goes off the rails when you log in and discover how many pre-approved transactions failed. The credit card number was correct last month. The card expiration date is still valid. But the card declines for some reason. This is often 7–10 percent of total charges each month. And, unless you have an active system for … Continued

I Hate Churn, and You Should Too

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High Churn Rate

Graduations are an amazing opportunity for reflection. For starters, they last for at least three hours once they begin. And my family has to arrive at least an hour early to make sure we get a good seat, near the front. This gives you plenty of time to think. As I mentioned a couple of months ago, our son, Robert William, is headed to the University of Florida, joining their honors program to study business management and entrepreneurship. For the last several months, he’s been applying for scholarships, and has done really well. His honors include Ignite Your Future Scholarship Award, Lir Sullivan Scholarship Award, Marvin Henderson Technology Award, Drive Smart Video Contest, and Best and Brightest of Tallahassee. Kory and I are really proud of him. And he’s excited to have put some extra cash in his pocket before he starts college. In between all the awards ceremonies, events, … Continued

Does Your Membership Work for You or Do You Work for Your Membership?

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Membership that works for you in good times or bad

Within a year of working in the membership industry, I knew this was the career for me. No business comes close to the opportunity that the subscription membership business provides. During my first year working with a company that consulted with membership organizations, I’d come across these older people, in their 60s, making great money and working part-time hours. They’d built a membership up over their career, and lived a tremendous semi-retirement. They had control over their time. They got to travel. And, when they went to member events, they were revered and praised by their members. These guys had life figured out. They’d hustle from time to time to recruit new members. But mostly, they were able to make a great money by keeping their members renewing. And they understood what their members wanted, so there was little struggle or frustration. I’ve met many of these membership millionaires in … Continued

Why Subscribers Join and What Keeps Them From Quitting

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What keeps members from quitting

Have you heard about those OPEC meetings where leaders from oil-producing nations agree to production rates to control the price of oil around the world? Have you ever wondered what those meetings are like? Is everyone at these OPEC meetings sitting on chairs made of solid gold, speaking while a team of servants fans them and feeds them grapes? Or are these meetings remarkable because they are as normal as a school board meeting in Lincoln, Nebraska? Dr. Kent Moors, an investing guru for the Agora affiliate Money Map Press, attends those OPEC meetings. Each month in his publication Energy Advantage, Dr. Moors provides insights on which companies consumer investors should buy based on his insider knowledge. I had the opportunity to work with the cracker-jack editorial team at Money Map Press this spring. Dr. Moors has always been a great storyteller. He provides in-depth analysis into the companies he … Continued

Datebox Subscription Secrets for Reducing Churn by Creating Strong Customer Engagement

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Subscription Secrets

This is pitiful. The largest growth sector of the subscription economy knows the least about how to connect with new members and stop subscriber churn. I’m so dedicated to helping you stop your members from quitting that I go to great lengths to bring you the strategies and tactics that’ll reduce your subscriber churn rate and grow your membership. This includes subscribing to more than four dozen subscription boxes to see what insights I could bring to you from the fastest growing sector of the subscription economy. There are more than 150 percent more subscription box offerings than there were just a year ago. And boxes are becoming ever more popular. There are boxes for candy lovers, dog lovers, chocolate lovers, camping lovers, cosmetics lovers, lovers of children and even loving couples. I must admit, the Choco Rush monthly box of single source dark chocolate makes me very happy when … Continued