A profitable subscription business, as defined, is one which can deliver consistent profits backed by a stable revenue stream. The revenue generated flows in direct congruence with the value you offer your customers. While you have the action plan for growth, have you taken a moment to pause and contemplate if you’ve recognized and put to use the most powerful resource at hand in order to achieve your growth goals? If you’re still unsure, we’ll reveal it to you…
Subscriber Data and Analytics.
Customer data can significantly improve retention rates and supercharge your business development at full throttle if you recognize its innate potential and the right time to put it to use. The insights from this information are quintessential to measure indicators, including the customer happiness index, customer lifetime value (CLV), and even the Profitability Index (PI), which is crucial in determining the health of your business. All that remains is the question you should be asking yourself.
“How can subscriber data be best leveraged to maximize customer retention and create value to positively impact the topline and drive profitability?”
Well, we have the answers you are looking for. What’s more? We have the technology and algorithms to help answer your questions with evidence and accurate mathematical predictions. Then, let’s dive in!
While you’re probably eager to decode the secret sauce to a robust, scalable, and profitable subscription business, it’s recommended you get your fundamentals clear first. Taking a step back, subscriber analytics is the leveraging of customer behavioral data to improve platform performance, enhance customer experience, and retain newly acquired customers. In a nutshell, subscriber analytics uses data to understand customer choices better, contributing significantly to the growth of your business.
Analyzing customer behavior lifts the hood on customer perception of your brand via user-generated content in the form of videos, discussion forums, and blogs. According to a report from Stalka, 70 percent of customers say it’s important for brands to provide a more personalized experience.
Such validations denote that an enhanced platform experience with personalized offers and product enablements can bring more customers to your doorstep and equip you to keep them for a long time.
Thoroughly-analyzed subscriber datasets exponentially improve revenue, with that data being sizeable enough for subscription businesses to adjust their content catalog to customer preferences. By observing customer behavioral trends closely, you become aware of how to improve fan engagement significantly through more effective communication. Irrespective of the industry or need, subscriber analytics can elevate platform experience and enable subscription businesses to envision, plan, and deliver innovative experiences with the power to flip every customer touchpoint into a revenue opportunity.
Customer intel also renders vital churn data, and invaluable insights to proactively predict, detect, and address customer churn before your revenue sees an impact.
The Evergent Captivate Product Suite tackles customer churn from all angles through a 360-degree customer view. The multi-pronged toolkit enables you to implement strategies to curb payment failures and optimize customer experience to improve customer lifetime value (CLV).
The Evergent Monetization Platform allows you to hyper-automate platform functionality with innovative offers and personalized promotional campaigns so your customers never slip out of your fingers.
Book a call with our team of experts today to learn more about how the Evergent portfolio, including our churn management and monetization capabilities, can steer your growth trajectory with skyrocketing profitability.