B2B marketing differs from consumer marketing in one crucial way: The customer base is almost always smaller. That means a viable B2B marketing plan can be more personal, more focused on particular leads, and more devoted to one-on-one human interaction.
The most successful subscription companies — like Apple, Amazon, and Microsoft — not only offer customers compelling reasons to remain subscribers, but they also make those subscribers happy to be locked in.
Although 69% of marketers say that conversions are their top priority, the fact is that a typical good conversion rate only hovers around 3%. That means putting a lot of work into making those conversions. Here are some ideas for getting it right.
Three established companies in this category — Costco, Sams Club, and BJs — sell more than $160 billion in economy-size goods while regularly dominating the customer satisfaction rankings. How do they do that? With recurring revenue from loyal subscribers who are also devoted fans.
Credit cards are a blessing and a curse for subscription publishers and monthly box merchants. Yes, auto-pay on a regular basis is sweet indeed, but it comes with the peril of card default. Cards expire or max out, customers dispute charges, and more … but there are ways to minimize the detrimental effects of credit card declines and chargebacks on your subscription business.
Credit card transactions have topped three and a third TRILLION dollars. With that volume, even a tiny percent of misfires create problems on the order of hundreds of millions of dollars. Companies that depend on card transactions, especially those who depend on recurring payments, need to be proactive in preparing for pitfalls.
Convert. Retain. Grow.
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