The Ultimate Guide to Optimizing Your Subscription Program
The Ultimate Guide to Optimizing Your Subscription Program
However, grabbing a piece of the subscription gold rush isn’t easy. Higher churn rates are making it tougher for merchants to cover acquisition costs and scale recurring revenue. That’s why it’s critical that you maximize the effectiveness of your subscription program.
In this guide, you’ll learn how to optimize your subscription program to increase subscriber enrollment, maximize retention, and drive average order value (AOV). You’ll find best-in-class examples from leading merchants and detailed benchmark data you can use to judge your subscription program’s effectiveness. We cover the entire subscriber journey, from growing awareness for your subscription offering to managing recurring orders.
How to Increase Subscriber Enrollment
There is no magic bullet to gain more customers. Instead, you must build a robust subscriber experience that grabs shoppers’ attention from the moment they land on your website and then offer them amazing value in exchange for their hard earned money. Leading subscription programs use a combination of the following strategies.
How to Maximize Subscriber Retention
Every day, more and more merchants are introducing new subscription offerings in the market. As a result, competition has never been higher. To offset sky-high customer acquisition costs, innovative subscription merchants are doubling down on their retention efforts. Chief among their strategies is to keep customers happy with hassle-free subscription management portal and eye-popping incentives.
How to Drive Average Order Value
Another consequence of rising competition among subscription merchants is an increased focus on AOV. Merchants are offsetting acquisition costs by enticing shoppers to enroll in multiple subscriptions or purchase one-off products.
Conclusion
Subscriptions have seen a meteoric rise in the last several years. As a result, there’s more competition in the marketplace and increased customer acquisition costs. To scale your recurring revenue program, it’s imperative you optimize every facet of the experience, from driving brand awareness to giving shoppers complete control of their orders.