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

Podcast: Play in new window | Download (Duration: 48:02 — 23.2MB) Subscribe: Android | Email | RSS | How to Subscribe Using Different Platforms 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 … 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

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

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

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

The Secret for Faster Recurring Revenue Growth, Invest More on Member Retention

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It’s been exhilarating working with several $100 million — and larger — publishers over the last couple of months. These companies spend millions of dollars on member acquisition. They track their numbers and know what’s working — and what’s not — within their marketing and sales funnels. Some have weekly training seminars for copywriters. They get together, analyze promotions that are working, talk about what’s effective, and consider how they can use these ideas to improve their own promotions. They make a tremendous investment in new-client acquisition. Many of the top copywriters are paid more than $1 million a year to create winning subscriber-acquisition promotions. And these great promotions are art; they are interesting to consume, and I can feel myself get excited when I look at them. I agree that customer acquisition is important, but what about the art of keeping subscribers? It’s one thing to make a sale. … Continued

How Are You Sabotaging Your Membership Growth?

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I was always the chubby kid in school. Since I can remember, I’ve been embarrassed about how my body looks. I’m too self-conscious to leave my closet without a shirt on. Forget running in public or strolling at the beach without wearing a shirt. For decades, I’ve lived with this problem, telling no one. And yet, I love Cuban sandwiches. The bread, the meat, the cheese, and the dressing — these have been wonderful delights in my life. I totally understand that physical fitness is 80 percent about diet and only 20 percent about exercise. However, because I run, I figured I could eat my Cuban sandwiches — and don’t forget about the side of black beans. For decades, I’ve understood that Cuban sandwiches are one of the causes of my body weight challenge — leading to my ongoing embarrassment. However, I’ve been powerless in giving them up. Once or … Continued