Changing behavior among subscribers brings new opportunities for retention and growth
74% of consumers are more likely to subscribe when cancellation is simple; and businesses should take note. We partnered with FT Strategies for our latest report “Subscription economy: Redefining relationships” to survey over 100 C-suite executives of subscription businesses and over 10,000 consumers to find what makes users keep subscriptions. The result: with the right techniques, businesses can positively impact user behavior and minimize churn.
Some findings:
• Churn: 31% of global consumers frequently cancel and resubscribe.
• Flexibility: The ability to pause payments was ranked as the most effective retention tactic among U.S. businesses.
• Loyalty: 66% of consumers would stay subscribed for a reduced-price offer.
