Every day, a new subscription-based business is born, and each day a business owner expects to reach as many people as possible, engage them and lower churn rates. But a subscription-based company cannot grow because of its operation-model alone. It needs great marketing.
Here are some marketing tips to boost your subscription-based business:
1. Free Trials
Providing free trials is a great technique. Let your product do the talk! When the product or service is right, there's no need to convince the customer that it will work.
Proper client segmentation will assist you to come up with the right onboarding sequence that addresses all at-risk customers during the trial period. It's always a good idea o a follow-up within and after the trial session.
2. Collect customer information
Subscription must be mostly data-driven, aiming at taking customers down to the funnel and sales cycle very fast. Data assists you to determine your next set of customers so that you can plan for service, support, and marketing budget properly.
In marketing subscription business, lines between client service, customer support, and marketing are not visible. Fast support chats must be properly mined for data and insights which must be returned into the customer and marketing lifecycle.
3. Create a user community
Creating a sense of community is crucial in subscription business. If the users are enthusiastic and engage with your company, you can turn an empty platform into a determined user community. Your users can be your best allies and promoters.
To create a community you must have email lists and make use of tools that assist in making the most of each potential site visitor. Compelling guides and content with free useful information will help you make that happen. Want to get creative? Run a podcast, create videos or provide courses to assist people with your tool.
4. Learn from the experts
There are plenty of outstanding subscription business resources online. Don't be afraid to imitate, check out the big names to learn their techniques and take hints on good practices.
Here's a great list for you.
5. Keep an eye on churn
"Churn" is always a scary word. For every company, at some point, the churn rates will go up as your user base expands. Regardless of that, high increase in the churn rate must be examined thoroughly and addressed.
Do you want to know why you are having churn? Here are 4 Reasons why you migh be having Customer Churn.
Marketing for subscription-based business works pretty much like with every other business. You need to apply the same ground rules of marketing. However, take extra care of user data, modify and make your funnel more effective, and create a client community that can function even without your assistance.