How Do I Grow My Subscription Business?
Do you have a subscription-based business and do not know how to make it grow? Well, worry not, for, by the time you are through with the article below, you will have all the information you need to make your company grow as fast as possible. It is vital that you pay attention to even the smallest detail for any slight improvement that may lead to the substantial growth of your subscription website.
Below are six easy ideas to help your subscription business grow
Get Insight First
One of the biggest mistakes that subscription-based business marketers commit is not learning more about their subscribers by getting insights before changing anything. Although it is exciting and fun to make changes all in the hope of improvement, it is essential to get to know your customers, and that information will help you understand what you ought to improve to satisfy them. By collecting all the information and the behaviors of your customers, you will undoubtedly get effective results. There are easy ways to learn more about your customers. The use of analytical tools such as Kissmetrics or GoSquared will go a long way in helping you have meaningful data. Tools such as the Crazy Egg and Inspectlets session recording tool will enable you to watch your customers’ videos while they are on your website.
Improve Every Email You Send, Individually
Your email marketing strategy must keep your customers engaged throughout their lifecycle. It would help if you took the time to read through emails you send to your customers, revamp them to reach your intended business goal. With tools such as free lifecycle and Madmimi email marketing tools Autosend, you can surely grow your subscription business. This is because trigger-based email market strategies can generate 18 times more profit and four times more revenues, according to Forrester’s research.
Text Messages Create Customer Loyalty
Believe me or not, an SMS is more personal as compared to an email. Therefore, a subscription-based business needs to use this avenue of communication if they want to create a personal relationship with their customers. There are many types of SMSs that one can send to his or her customers. These text messages may include thank you notes, billing notifications, discount codes, among other offers.
Run Tests on Pricing
You should always test your prices to ensure that you reach a favorable price for your customers and your business. It should be noted that the availability of discounts for annual payments will improve cash flow and reduce churn. Therefore, always run small tests on your pricing, for this may lead to big wins.
Create New Content
It is essential always to try and create new forms of content occasionally and ensuring that they reach as many people as possible. Content marketing is not only about article writing. There are many forms of creating new content. The best way to ensure that you reach as many people is by emailing content to your customer or using Content Marketer, a tool that will help you get to as many people.
Improve Your Upgrades and Upsells
It should be noted increasing the number of upgrades will improve your revenue with your current users. Therefore, you should try to determine what causes customer upgrades and use those factors to run tests.