Strategic Planning and Marketing To Increasing Subscriptions

As the implementation of subscription platforms grow within business models this has reflected well in the SaaS industry. Subscription models need careful planning to be a success rolled out in stages but what strategies can your business use to generate more subscribers to your content?

Subscription based companies have their own gains and drawbacks. Consumer acquisition is not the only primary focus, and you need to be vigilant, smart and patient in order to grow your customer base and create trust with your audience. Here are some techniques your business can implement to grow your subscriber list.

Keep a track of competitors and adjust pricing structure as often as you need too

In case the purchase price is not appropriate for your consumers, then your company will progress nowhere fast. Your pricing point has to be at a level that feels comfortable to your audience. If it is priced too cheaply, your customers may not fully appreciate your offers. When the price is too high, either they will not purchase, or they'll be hesitant and will toy with the idea of getting refunds for not getting value for money.

As a subscription platform company, you must see pricing as a critical and competitive leverage to attract customers. Consequently, if competitors put together another deal, be wary because your offer might be eclipsed. To remain competitive, you need to maintain some flexibility to adjust when necessary.

The average customer retention levels for many subscription based companies is about two months. Using a monthly pricing structure, your customers have the ability to leave at any moment, which means you need to push people toward long-term deals by offering benefits for their commitment.

Build a relationship with your customers

With ecommerce websites, customers can visit your website once, purchase a product they were searching for and then leave with no company interaction, even if you are trying to entice customers to return with marketing emails. This is not to indicate that customer relationships are not crucial in ecommerce, but nowhere are they more crucial compared to subscription platform businesses.

Running any subscription business, retaining customers is a lot more significant than getting new customers. Obviously you need to create a continuous flow of interest in your subscription offers, but if you do not evolve a plan around keeping the customers who've already registered, your churn rates will increase rapidly.

Up selling and cross-selling can be used towards customers who are committed on longer term deals, and you should arrange special promotions and offers with your current subscribers being able to take advantage of deals ahead of shorter term customers. This will increase customer loyalty and improve retention.

Offer trial periods before people purchase

Consider giving potential subscribers an opportunity to try your services for a trial period for free, this gives your company a better chance of people getting hooked to what you are delivering and ultimately becoming paid subscribers. It is important that the pricing structure is kept simple and easy to understand after the trial period is over or this may deter customers away.

Develop engaging and eye-catching content

Publishing high-quality content for your customers regularly will encourage people to come back and visit your site but if this is not addressed frequently then people will get bored and moved to a competitor.

Knowing how to distribute this content is key. Whether it’s current affair articles, blog posts, video clips or podcasts, the option you choose has to be one you’re comfortable with and your company must persist with it to stay competitive to monetise content effectively and increase subscribers.

How Evolok Can Help Increase Your Subscriptions by Segmenting Data

  • Create and prioritise segments, in real time, based on anonymous user behaviour and content interests
  • Target attractive segments with bespoke, rule-based content personalisation and registration offer
  • Align advertising and subscription packages to specific segments to maximise the value of every user

Contact Evolok today and find out the benefits of implementing a subscription based platform and monetising your content to its full potential.

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