Recurly

If you manage a subscription-based business, then “churn” is always on your mind. Churn is the rate at which you are losing subscribers over a given period of time, and the results of your churn calculation can help you stay up to date on your business’ overall performance. There are two types of churn: voluntary and involuntary. While many people focus on voluntary churn, involuntary churn is just as important. Here are some essential things you need to know about involuntary churn and strategies for reducing it. Why You Should Focus on Involuntary Churn Involuntary churn occurs when you lose a customer due to a transaction failure and their subscription is not renewed as a result. This can happen because of an expired card, a payment decline, or a subscriber’s bank blocking the transaction. It is important to focus on involuntary churn because these customers aren’t intentionally choosing to end their subscriptions. They might not even know the renewal failed and their payment was...

As a direct-to-consumer (DTC) brand, it’s important to stay flexible and offer your customers benefits that keep them coming back. This goes double for any subscription-based DTC brand. You must be innovative and stay one step ahead of the competition. It doesn’t matter whether you sell pet food subscriptions or beauty box collections—you should be selling gift subscriptions. Partner with a subscription management platform that lets you integrate gift plans and see how they can enhance your offerings.  Discover the Gift Subscription Essentials Gift subscriptions are exactly what they sound like. They allow your customers to purchase a subscription option and send it to someone as a gift. The two main types of gift subscriptions are cards and plans. Cards are similar to a gift card in that your customer purchases a set amount, and the recipient gets to choose the subscription they want with the card. On the other hand, a plan is selected by the customer and given to th...

Interacting with subscribers is an essential part of any subscription-based business, no matter the industry. Interactive customers are more likely to post about your products on social media or voice their needs and desires, including ways they think your business can improve. When you get them talking, you can gain helpful insights. The trick is to build an interactive customer base with a variety of techniques. If you create a personable brand with the help of an innovative subscription management platform, your subscribers are more likely to interact with your emails, posts, and surveys. Here are four ideas to help improve your customer interaction. Invite Feedback by Sending Out Email Surveys Sending an email survey directly to your subscribers’ inbox is an excellent strategy for increasing interaction and discovering more opinions about your service. To start a customer’s lifecycle on the right foot, send a survey after their first billing cycle. Offer them a bonus of some sor...