When it comes to growing a subscription business; great content or a great product is not enough.
It’s important to consider the continuous energy and tension between supply (the way your service is delivered) and demand (the way your subscribers react – each and every month).
We believe there are six foundational elements every subscription business should focus on to reveal the true characteristics of their subscribers:
Content: How valuable is the product to the subscriber?
Service: Is the experience the subscriber receives meeting their needs?
Communication: How effectively are you at communicating the offer to the market?
Usage: Are you keeping your subscribers engaged and active?
Enjoyment: Are your customers delighted by your service or indifferent?
Value: How much is the subscriber willing to pay?
In part one of our video series, CEO Bhavesh Vaghela talks about these six key elements; the disconnect between where data lives and how it is used for customer engagement, and the major challenge subscription businesses face to identify and execute the perfect growth strategy. The dreaded ‘Air Gap’.
For part two, Bhavesh will talk about subscriber intelligence. What is it? How can you make the most of the data you have? And how can you determine what actions change customer behaviour to drive the most loyalty? Stay tuned.