Annual, monthly, quarterly, or something else? What’s the best subscription term, to maximize new subscriber conversion, member retention, and recurring revenue?
So what IS the best subscription terms? Annual, monthly, quarterly or discounted trial subscriptions? This is one of the most frequently asked questions by my clients.
Discounted trials bring in the most new members, but they also have the highest churn rates.
Monthly have higher new subscriber conversion than annual plans, but you usually retain more members after 12 months from annual plans than you do for monthly, making annual plans better for long-term retention.
And, then there’s quarterly plans, which fall somewhere between the pros and cons of the others.
The choices you make here have a huge impact on new subscriber conversion, retention rates, and cash flows so it’s critical that you make the best choices here.
This episode of Be Unleavable® Subscription Growth reveals how to choose the best subscription term strategy to maximize new subscriber conversion, retention rates and cash flows.