New York has enacted a new auto-renewal law, NY S1475A, that covers sales to consumers of auto-renewing or continuous service offers.
Understanding the difference between your most valuable customers and those that will not renew, is like separating out the wheat seeds from all the wheat chaff at harvest time. It will take the right tools and tactics to maximize renewal rates. Subscription Insider's Retention Workbook (Excel) will help you track the retention performance by key drivers in your business, turning your data into both a summary and a detailed retention report that you can use to manage your retention.
How much would you pay for a list of leads who are demonstrably interested in your subscription service, are proven subscription purchasers, and are familiar with your subscription brand? Hint: You already own that list. Through careful testing, it is possible to craft effective, targeted messaging that can bring lapsed subscribers back into the fold.
Launching a subscription business isn't easy. Pricing your subscription business is another beast altogether. In this article, we explore the six concepts you'll need to understand to be able to set a price for your subscription product or service that will provide you with the most sales and profits as is possible.
Discover how to manage conflict between your sales channels to grow revenue. Learn best practices for managing between sales channels such as online, in-store, or partner sales to avoid lost revenue.
The importance of effective customer service is well understood. But how do you know if you are delivering that? And what channels -- phone, email, chat, social media, etc. -- should you emphasize? How about innovations like chatbots, intelligent agents, and other automated systems? Measuring customer service breaks down into two general areas: satisfaction metrics based on customer attitudes and performance metrics based on support staff behavior. …
If you're spending a large amount of time and money to acquire new customers, do renewals really matter? They do, and it's a matter of your profitability. Thats because theres a good chance that you're spending quite a bit of money to acquire every new subscriber. In general, the average subscription business pays about what the first term of service would be in order to acquire that new subscriber. The baseline cost for a renewed subscriber, on the other hand, is just the cost of credit card processing. Renewed accounts are as close to pure profitability as you can get, so it will positively affect your subscription business to have as many renewed accounts as possible. Here are some tried-and-true tips to help you maintain a healthy level of renewals, and limit your subscriber churn.
Dr. Matt Lindsay, president of Mather Economics, shares subscription trends, risks and opportunities, and recommendations for digital publishers.
Join our panel of executives from J.P. Morgan and BillingPlatform as they share critical insights and techniques that can be used to protect existing revenue streams as well as unlock new ones during times of crisis.
A pending California bill would amend the California Automatic Renewal Law on automated subscription renewal. The bill passed the full Assembly yesterday by a vote of 72-1 and is on its way to the CA Senate.