Our sister site, Subscription Site Insider, just came out with an exclusive case study on Consumer Reports Online this week, jam-packed with 18 tactics and lessons that can help any subscription marketer, and I wanted to share one of the best ones with you.
Consumer Reports Online, which has been able to increase their subscription revenues by charging separately for print and online subscriptions, employs one of the most lucrative best practices by using an account updater service for their payment processing. For those of you unfamiliar with account updater services, it’s a simple software service that runs all your subscribers’ credit card numbers once a month against a list of everybody in the United States whose Visa/MC number has changed that month for whatever reason. The software then updates the customer’s credit card number without bothering the customer.
This practice has been known to significantly increase retention and revenues for subscription and membership sites with minimal effort.
For more tips on dealing with chargebacks and credit card declines in order to increase retention and revenues, check out the on-demand video talk by Paul Larsen on Subscription Site Insider. For more killer marketing tips, read the full case study on Consumer Reports Online now!