How to BOOST Subscriber Conversion Rates!
Podcast: Chew on This - Digestable DTC ContentPublished On: Tue Jul 09 2024
Description: In EP. 5 of Chew on This: Retention & Subscription Powered by Stay Ai, Gina sits down with Amanda Liew Hill from First Day to discuss the importance of running tests, analyzing results, and making informed decisions before deploying changes. The focus is on increasing subscriber conversion rates, enhancing customer experience through tests like mystery gifts, and learning from failed tests to adjust strategies effectively. Their conversation emphasizes the significance of monitoring customer behaviors, adjusting marketing strategies, and utilizing triggers for customer retention. 🧪 First Day uses rigorous testing to understand customer behavior and make informed decisions about their subscription program. 🎁 A mystery gift promotion was successful in increasing reorder rates, but a larger gift with a higher value did not yield the same results, highlighting the importance of careful cost analysis. 💳 A test aimed at preventing passive churn by alerting customers about expiring credit cards backfired, emphasizing the need to be mindful of how communication impacts customer decisions. 💬 Customer surveys provide valuable insights, such as the objection to subscriptions, which can be leveraged to tailor messaging and improve conversion rates. 🏆 First Day’s success despite being a bootstrapped company underscores the importance of intentional experimentation and data-driven decision-making. 0:00 - Intro. 4:01 - Launching a new line of probiotic products at First Day. 6:04 - Discussing the role and mission of First Day in targeting health crises. 9:56 - Focusing on increasing subscriber conversion rates and second orders. 11:10 - Utilizing a mystery gift test to enhance customer experience. 14:17 - Importance of testing and analyzing the full cost of promotions. 16:02 - Learning from failed tests and adjusting strategies accordingly. 17:47 - Monitoring customer behaviors and adjusting marketing strategies. 20:05 - Using triggers to alert about expiring credit cards for customer retention. 25:11 - Discovering customers' objection to subscriptions. 26:05 - Using customer objections in copywriting tests. 28:07 - Testing customer objections to improve copy. 31:35 - Optimizing cancellation survey instead of removing options. 39:13 - Utilizing cognitive bias of loss aversion in explaining benefits. 40:05 - Using customer feedback creatively, like on the cancellation button. 41:03 - 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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