When Retention is Everything
Maintaining a relationship where your customers pay you a subscription creates a dilemma - reward them for paying their bill, and you remind them...they are paying their bill. Loyalty Lab focuses on program designs and solutions that reward the activities and behaviors that lead to long-term retention, as well as incorporating the promotions needed to reactivate lapsed customers.
The Subscription Challenge
Subscription marketers live and breathe churn. Ongoing engagement with subscription and continuity customers must walk a fine line between adding value and avoiding a cancellation.
Loyalty Lab's Approach
We've dived deeply into subscription businesses, and found the need for understanding all of the activities and behaviors of subscription customers in addition to their recurring payment. In fact, this led to Loyalty Lab's investment in powerful generic action data framework, which allows clients to watch and respond to any activity they can track.
Features
It's not enough to know when your customers leave. You have to respond before they even know they want to leave. Triggered messaging, targeted offers, and other behavior-sensitive efforts can be the difference between retention and churn.
- Dynamic profiles model the factors predicting churn
- Accrue benefits based on value-creating activities and behavior
- Capture behavior generically and automate responses
Benefits
Just a few tenths of a percent difference in churn can have a huge financial impact. We'll put the tools in your marketers' hands to model your customer lifecycle and respond accordingly.
- Reduce the efforts needed to set up and maintain automated marketing
- Increase value generated from other goods and services
- Avoid price compression with an alternative promotional currency