Today was the first day of week 2 of Subscription Show 2020. We continue to get positive feedback from attendees who love this year’s format, whether they are watching live from their home office or are watching at the end of their “work day.” We’d prefer to meet in person, of course, but this is the next best thing.
We’ve got three days of great speakers, sessions and sponsors and lots of extras including a fun zone, networking opportunities, 1:1 coaching — even trivia! We hope you’ll join us. If you missed it, here are highlights from Day #4. You can also get an on-demand-only ticket to watch sessions you missed.
Exclusive VIP Session with Robert Skrob of Membership Services, Inc. on Onboarding
Conference attendees with VIP passes had an opportunity to talk directly with Robert Skrob of Membership Services, Inc. about onboarding, onboarding processes and retention. Here are highlights from that VIP session:
- “Set it and forget it” is not a good strategy for branding and marketing.
- To reduce churn, the biggest opportunity is to focus on the first two month’s of a subscriber’s journey.
- Formulate an onboarding process that addresses the most common user’s needs first. Don’t overcomplicate it.
- Develop a 100-day communication plan to get subscribers more excited after 100 days than the day they subscribed.
- If you are doing something and your retention goes up, your method or process works. If retention goes down, make adjustments.
If you have not attended a VIP session yet, we encouraged you to check out the VIP passes on our Tickets page. This is a great opportunity to speak directly to a subscription expert.
Other Subscription Show Keynotes and Sessions from Day 4
Kick Off & Introductions: Kathy Sexton, CEO of Subscription Insider
Finding and Fixing Leaks in Your Revenue Bucket
Keynote: Fireside chat between Robin Lewis, The Robin Report and Richard Kestenbaum, Triangle Capital LLC: “Strategies for Maximizing Valuations of Subscription Businesses”
Session: Peter Cowen, Sutton Capital Partners: “5 Key Mistakes to Avoid When Selling Your Company”
Session: Melanie Stout, Paul Larsen Consulting and Noemi Lazo, PMC: “The Future of Publishing and Payment Success”
Session: Ed Barton, Omdia: “The Impact of D2C on Sports Distribution”
Session: Rachel Quick, Recurly: “Build Your Strategy to Minimize Churn and Maximize Revenue”
Session: Guy Marion, Brightback and Adrienne Bouchie, Freshly: “Customer Retention Playbook: How Freshly Turns Cancellations Into Cash”
Session: Lisa B. Dubrow, Esquire: “Dos and Don’ts of Subscription and Membership Sales (aka Negative Option Marketing)”
Session: Amy Konary, Zuora: “Business Model Innovation in the Next Normal”
Session: Mike Rogers, ACI Worldwide: “Recurring Success: Exploring 2020 Subscription Retention and Payment Trends”
Session: Robert Skrob, Membership Services, Inc.: “Subscription Pricing Pages that Maximize Conversion and LTV”
Subscription Show extras
- Coaching Zone with 30-minute 1:1 sessions with industry experts (please sign up in advance)
- Speed Networking
- Networking Lounge
- Fun Zone
- Virtual 3D Exhibit Hall
- Vendor demos from Recurly, Vindicia, Worldpay from FIS, Flexpay.io, House of Kaizen, Paul Larsen Consulting, Brightback, Verifi, Wiland
For more highlights, follow us on Twitter. We’ll be tweeting throughout the conference.
Here are a few pieces of advice to take away from today’s sessions:
- There is no single formula for valuing a subscription business. Two key metrics to look at are gross margin and customer acquisition costs.
- The pandemic has had a huge impact on live sports and streaming and OTT D2C subscriptions that brought sports directly to fans. Advertising took a bit hit as well.
- Retention strategy: make your customers feel special and unique through extra perks, discounts or loyalty programs (e.g., Book of the Month)
- The regulatory landscape for subscriptions is constantly changing. Make sure you are up to speed on what is required in the jurisdictions where you do business and that are imposed by payment providers like Visa and Mastercard.
- Your terms and conditions should be clearly and conspicuously available to subscribers.
- Success is not a straight line.
- Subscription models are the best foundation for innovation becuase they are agile and flexible.