The majority of subscription sites are failing to leverage the power of email marketing for retention and renewals, according to Subscription Site Insider’s new Email Marketing Benchmark Report for Subscription Content.According to data gathered this spring, 37% of subscription marketers are only sending one onboarding email to new subscribers. Furthermore, only 7% are sending four emails, which is our recommended best practice!
The numbers are shocking, especially given the fact that onboarding is easily automated through autoresponders, it’s a simple process that can raise retention rates by 10% to 20%, and retention marketing is always cheaper than acquisition marketing.In our On-Demand Video on 10 Onboarding Fixes, marketing expert Bill Baird suggests optimizing your thank-you page first, since 100% of new subscribers will see that page (and really, which other page is getting a 100% of eyeballs?). You can also welcome new subscribers through social media, postal direct mail, or an email series (The Financial Times sends a series of five emails just for registered users).The most important thing, however, is that you don’t just leave it at just one message. Make people feel welcome and you’ll be instilling loyalty from the start. Analysts unfamiliar with subscription models can sometimes focus too much on acquisition as a “sale,” but, for subscription businesses, the real revenue comes in further down the line. A good first impression will keep your subscribers coming back for more, so the ROI on that first email is far greater than the initial subscription price.What do you use to welcome new subscribers? And have you done anything to your onboarding process to improve retention?
| 5 Ways Subscription Businesses Can Thrive in Uncertain Times
Taking strategic actions is the key to growing recurring revenue during uncertain times. This session reveals the few vital actions subscription business leaders should take immediately to focus their team and themselves on growth over the next few months.
This free webinar is April 15, 2 PM Eastern.