Jack Rubin, Co-CEO at Purdy & Figg, knows how important strategy is to reducing churn. The top priority for every subscription-based company is keeping its customers. The lower your churn rate is, the higher your long-term gains will be. So, how do you convince subscribers to stick around? Jack turned his company’s churn rates upside down by changing his strategy around frequency and price. On this episode of Subscription Radio, Ben and Jack chat about his tips for reducing churn rate, which companies should (and shouldn’t) move to a subscription model, and what incentivizes customers to stick around.
- Hold on to your customers
- Create a subscription that makes sense
- Offer customers the right experience
- Don’t annoy your customers
- Analyze CAC to LTV
- Give customers community
- Pay attention to social media
- Check out Purdy & Figg
- Connect with Jack Rubin on LinkedIn or Twitter
- Check out Rodeo
- Connect with Ben Fisher on LinkedIn or Twitter
Ben Fisher & Joel Van Horn discuss the nuts & bolts of subscription commerce.