5 Ways To Amplify Your Subscription Business Through CRM

April 5th, 2022 Posted by Jessica Ho Automation, Data, Marketing Automation, Sales, Technology 0 thoughts on “5 Ways To Amplify Your Subscription Business Through CRM”

As convenience becomes one of the most important factors in customer satisfaction, the subscription model has become a staple part of almost every industry. But, with so much demand, many subscription businesses have found themselves struggling to stand out.

Sound familiar? Don’t worry, we got you.

Thankfully, we know a thing or two about subscription businesses (we should do really, we worked with quite a few of them!). So, in the interest of sharing our expertise, we’ve pulled together 5 tips that you can take to boost your business through CRM.

1 – Tier your subscription packages to increase accessibility

It might sound simple, but pricing out potential customers is one of the biggest threats to subscription businesses. Providing a variety of packages, each under a different price bracket, will ensure you cover as many financial bases as possible. Take Hootsuite, for example. The social media scheduling and analysis tool offers 1 free and 4 paid packages, each with a different number of accounts and users and with access to different features. Further examples of a tiered pricing strategy include Revolut (Plus/Premium/Metal) and Netflix (Basic/Standard/Premium).

2 – Make it easy for your customers to subscribe, edit and manage their subscriptions

There’s nothing worse than feeling like you’re stuck somewhere you don’t want to be. This applies to situations and relationships, but it applies to subscriptions, too! If customers feel like there is no easy way out of your subscription service, they are far less likely to get started in the first place, so you must provide a clear and simple exit strategy. It’s also important to collect as much information as possible from those who do edit or cancel their subscriptions, so you can work to get them back and improve your product/service for future customers. A great example of this is the food delivery service Gousto. Thanks to an automated system, Gousto customers can easily pause, cancel or amend their subscription in the mobile app. The app then asks the subscriber why they wish to pause or cancel before offering them a solution tailored to their answer to convince them to stay.

3 – Use data to segment your subscribers and tailor their subscriptions

By collecting and utilising customer data, subscription businesses can create tailored experiences that make their customers feel special. Some of the best examples of this come from the entertainment industry. For example, Spotify collects data 24/7 on the songs, artists, albums and genres that a user is listening to, as well as the length of time they spend listening and any podcasts they enjoy. It then connects this information to the app itself, providing personalised playlists, recommendations and push notifications, as well as the famous end-of-year analysis known as ‘Spotify Wrapped’.

4 – Better connect all aspects of your business to provide a better experience for your customers

The subscription business model is a complex one, with lots of moving parts. But it is a model that, when connected, has enormous potential to provide an unparalleled customer experience. Take our previous client, The Bike Club. By utilising almost the full Salesforce suite of products, we were able to create a seamless solution that connected every aspect of their business, from purchase intention right through to delivery, customer services and loyalty. For The Bike Club’s customers, this means automated alerts when their orders are on their way, fast and efficient customer service responses and communications that are tailored to their preferences and purchase behaviour.

Another great example of this is the new subscription model by Cazoo. The online used-car dealer has developed a brand new revenue stream by providing new cars to customers using a lease model. Once returned at the end of their lease, the cars are then added to the site as used cars. By connecting different aspects of your business, Cazoo has developed a new source of income and increased the potential income in its existing model.

5 – Provide fast, efficient and personalised customer service support

Thanks to increased competition and the ability for customers to ruin a company’s reputation in 280 characters (cheers, Twitter!), quality customer service is no longer a “nice to have” but an absolute necessity. There are three keys to providing quality customer service: rapid response times, lots of communication channels and personalisation. People want to be able to solve their problems quickly and without fuss. They want to be able to reach your customer services team from whatever platform is most convenient to them at the time. And they want to speak to a real person who makes them feel like a real person, too. Gousto’s aforementioned automated in-app responses are a great example of this. Customers who have an issue with their delivery can quickly fill out a form on the app to find a solution to their problem (usually a discount off their next box). But, if unsatisfied, they can then hop straight onto the in-app chat box to talk to a customer services rep who will refer to them by name and introduce themselves before politely offering support.

Looking to implement a better CRM solution for your subscription business, but not sure where to start? Perhaps you aren’t sure which solution is best for you, or you know what you want but want to make sure it’s implemented properly?

You’ve come to the right place. Our retail team is packed full of experience designing, implementing, analysing and improving CRM solutions for subscription businesses just like yours.

Get in touch on +44 203 239 8492 or at hello@triggdigital.com. to find out how we can help.

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Jessica Ho

10+ years experience in multi-country digital transformation, across strategy, process design, and agile delivery

5 Ways To Amplify Your Subscription Business Through CRM

1 – Tier your subscription packages to increase accessibility

2 – Make it easy for your customers to subscribe, edit and manage their subscriptions

3 – Use data to segment your subscribers and tailor their subscriptions

4 – Better connect all aspects of your business to provide a better experience for your customers

5 – Provide fast, efficient and personalised customer service support

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