How to Accelerate Your Subscription Growth – Insight and Advice from Zuora

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How to Accelerate Your Subscription Growth Insight and Advice from Zuora

How would you like to know the secrets of the fastest growing subscription companies? Subscriptions are exploding for everything from information, software, to monthly boxes. This growth has attracted new resources for analytics, software, and marketing to learn what works and how to grow the largest subscription companies today. These tools can give you more visibility, control and monthly recurring revenue for your subscription program. This interview reveals what the largest players in the subscription economy do to attract new customers, understand their subscribers to reduce churn, and grow their monthly recurring revenue. For starters, Zuora offers products, resources, and cloud technologies to help subscription businesses attract and retain members. Zuora has sophisticated monthly billing systems that increase revenue with better pricing models and international acceptance rates. In Matt’s reply to this question, he states that “companies are using Zuora instead of traditional ERP systems, like an SAP or an … Continued

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 Do Members Refuse to Do Anything With the Materials You Give Them and Then Quit Their Membership?

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It makes me so mad. Customers opt-in, review my sales message, talk to my people and choose to buy. Then they do NOTHING and quit. Some even have the gall to criticize the program when they did nothing with what I sent to them. I can see they never opened their emails or logged into their member dashboard. Argh! I’ve had SAAS clients with past customers who did nothing with the product, but still took the time to post a negative review of the product. Or I’ve seen subscription boxes with past customers posting on social media, saying, “Received a box, never opened, stupid.” Oh, and this is really a sore spot with my publisher clients. How many times have you heard, “When I put this month’s unopened mailing on top of a pile of four other months of unopened mailings, I decided I needed to call to cancel.”? And, … Continued

How to Communicate Your Benefits in a Compelling Way so Members Want and Appreciate What You Deliver

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“What are the benefits I can offer to stop members from quitting?” is the most frequent question I hear. Yet, for the most part, the benefits these clients deliver to their members are just fine. But there’s usually a huge problem in the way benefits are communicated. You may have an understanding of your benefits, how they’ve helped other members in the past, and how they can help your current members. However, your new member has no idea about any of this. And she’s not going to read a bunch of stuff to try to learn about everything, either. You’ve got just a few seconds to pique her curiosity and get her engaged, even if she invested in buying your subscription. Most importantly, rather than talk about what the benefits are, such as discounts, publications, or a subscription box, illustrate how each benefit helps your member. There should be a … Continued

Retention Training to Stop Your Members from Quitting

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I may have to seek therapy. My son, Robert William, has chosen to attend the University of Florida to become a … I can’t write it. Their mascot begins with the letter G. Ugh! I graduated from the superior school within the state, Florida State University. My favorite daughter is set to graduate from Florida State this December. She followed my plan perfectly. I remember sitting with my daughter at an FSU baseball game when she was 10 years old or so. Between innings, the stadium announcer began to read off scores to the crowd. One score spurred a tremendous cheer: “Here’s an update from the SEC gymnastics tournament — Kentucky 8, Tennessee 5, and Florida 2.” My daughter gave me a quizzical look as if to say, “Why does anyone care about a gymnastics tournament?” “As a Florida State Seminole, we root against Florida in every sport they play,” … Continued

Copywriting for Customer Engagement, Retention and Lower Churn

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The biggest mistake I see in ongoing content is that it’s 100 percent “how-to” information. Too much how-to is boring, overwhelming, and monotonous. Plus, there are billions of pages of how-to content available for free on the internet. Yes, “how-to” is important, and when you ask your members, that’s what they always say they want; however, when you deliver content in the right way, it’ll result in a huge reduction of your churn rates. I was speaking about this with a client in December. On that call I created the following formula for content: Content = Vision + Clarity + How-To + Personality Throughout the month of January, I’ve had the opportunity to work with Money Map Press, an Agora affiliate and one of the largest financial publishers in the world, to implement this model within their editorial department. As a large publisher, they have several different experts who provide … Continued

Put Your Fastest Win First and You’ll Get a Member That Stays for Months or Years Instead of Days or Weeks

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Memberships and subscriptions are some of the hardest products to sell. Your marketing gets me excited about a problem, promises that you’ve got a solution, and just when I’m ready to buy what you have to solve my problem, you explain you are going to give me the solution in installments over the course of several months. I want a solution NOW! I understand that you want a member and a subscriber, so that’s why you sell a membership. But your member doesn’t want a membership. He wants a solution to his problem. And if you dilly dally around, providing information rather than delivering solutions, your member will tune you out and disengage — lost forever. Once your customer believes in your system and his own ability to do it, and has clarity about what to do, he’s ready to start. This is one of your biggest decisions — where … Continued

Your Selling Begins After Your New Member Joins Your Membership Program

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“You wake up and see your gardener tending to your gardens. You play golf if you want, tennis if you prefer, or, if you feel like taking it easy today, meet some friends for coffee. You don’t have to rush to work. Your team is taking care of every detail, including mailing your distribution checks regularly, as you’ve long since delegated responsibility to a team you can trust — that actually runs your business better than you did.” Jay Abraham calls this method of goal imagery “forward pacing,” a neuro-linguistic programming term. “No more long hours, late nights, and working weekends. Instead, by applying what you learn within this program, delegate all of the details of your business to a cracker-jack team that deposits distributions into your checking account while you relax with your spouse in the paradise of your choice.” I learned from Dave Dee that every proposition must … Continued