The Key to Winning Back YOUR Customers!
Podcast: Chew on This - Digestable DTC ContentPublished On: Tue May 21 2024
Description: In Episode 2 of Chew on This: Retention & Subscription powered by Stay Ai, Ron and Ash sit down with Gina to discuss the significance of leading offers with subscriptions first to enhance retention. They emphasize starting retention strategies from the moment site visitors land on the page and suggest shipping bundles quarterly for better business margins. The importance of storytelling and targeting the right customers for acquisition is highlighted, along with the implementation of punch cards in subscription programs. The episode also touches on testing different discount strategies and their impact on customer retention. Overall, the key focus is on building sustainable businesses through effective subscription management and customer engagement strategies. 💸 Focus on acquisition first, as a profitable AOV is needed to afford a high enough customer acquisition cost. 🤝 You don’t have to do monthly shipments or bundles only. Quarterly shipments can also work. 💡 Product education and storytelling are crucial for subscription success. 🔍 Cancellation surveys are highly valuable for understanding why customers cancel and improving your program. 📧 Optimize your upcoming order email subject lines to build accountability and remind customers to take their supplements. 0:00 - Intro 1:00 - Increasing average order value (AOV) by selling more of the same product. 2:25 - Offering bundle deals to encourage longer subscriptions. 3:06 - Implementing bundle offers to increase average order value. 5:02 - Best practices for subscriber acquisition include running multiple offers simultaneously. 6:00 - Building community and storytelling to retain subscribers. 9:29 - Testing different subscription lengths to optimize conversion rates. 11:00 - Addressing customer pain points to reduce cancellations. 14:01 - Providing flexibility in subscription options to enhance customer experience. 15:06 - Utilizing communication tools to reduce churn and improve retention. 18:27 - Highlighting new products to encourage subscription upgrades. 19:04 - Implementing subscription portals for brands. 20:08 - Utilizing banner ads to upsell additional products. 21:06 - Educating customers through communication tools like email and SMS. 22:01 - Offering bundle deals to increase subscription frequency. 23:29 - Focusing on customer retention strategies. 25:00 - Using cancellation surveys to understand reasons for churn. 26:02 - Implementing quick actions to reactivate canceled subscriptions. 28:04 - Providing educational content to engage subscribers. 29:37 - Encouraging brands to keep customers engaged through the subscription journey. 30:05 - Discussing building healthy habits and accountability through subscription emails. 31:04 - Building accountability and routine through subscription products. 33:02 - Discussing the effectiveness of email and SMS for customer engagement. 37:14 - Final Chew 🩷 Stay Ai - Supercharge growth with Stay Ai, the next gen subscription app for Shopify brands that are serious about growth and performance! Designed by and for marketers, built by world-class engineers and data scientists.🔗 https://stay.ai Follow us, subscribe to our newsletter, and to see our exclusive merch check out https://chewonthis.io/ Ron Shah - https://twitter.com/obviceo Ash Melwani - https://twitter.com/ashvinmelwani Chew On This - https://twitter.com/chewonthisdtc
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