Attracting new customers to sign up to your subscription-based business is very important because consistently bringing new subscribers on board is necessary if you want your enterprise not only to survive but to thrive.
Nailing subscriber acquisition right on the head can be challenging, but it is certainly not impossible. What you need is a proper understanding of the elements that will make customers want to sign up to your businesses, as well as knowing the right tools to be able to do just that. Here are a few tips that you can take into consideration.
Know Who Your Customers Are
You simply can’t churn out communication messages and blindly send them out into the world hoping that your target market receives them. Knowing who exactly your customers are is important in coming up with properly targeted communication messages that are able to reach the people they need to reach. Establishing detailed customer information is also necessary because this will impact many of your other business strategies, from media buys and affiliate partnerships to product pricing and product development. Key elements you need to understand include customer demographics, behavior, and average customer lifetime value.
Determine Acquisition Channels That Work
Once you’re able to understand who your customers are, it becomes much easier for you to identify channels of acquisition that you can target to optimize your customer acquisition strategies. Channels can include Google search and display advertisements, television advertisements, print advertisements, social media posts, email marketing messages, online contests, and so on. Make sure that you use a software solution with capable campaign management facilities and which provides you detailed analytics so you can track ongoing consumer trends.
Uncomplicate the Signup Process
Today’s customers want the most streamlined customer experiences, so much so that creating complicated signup forms can discourage them from subscribing to businesses in the first place. To prevent this, make sure that your signup process is as uncomplicated as possible.
For initial signups, just getting the customers’ names and email addresses will most likely be enough. You can give them the option to add more details later on once you’ve built trust and rapport with them.
Use a Smart Billing and Payment Solution
Another area of friction that you have to be aware of is billing and payments. Make it as easy as possible for your customers to pay for your products or services. Believe us when we say that most of your customers will not tolerate a failed payment transaction simply because you don’t accept other ways for them to pay. To prevent this, make sure to use a smart recurring billing solution that accommodates the broadest range of payment methods, currencies, and tax regimes. Subscribers should be able to pay whether through credit cards and debit cards or through alternative mthods like Paypal, Apple Pay, Amazon Payments, or mobile carrier billing. Moreover, they should be able to pay with foreign currencies as well.
By using a software that allows a varied array of payment methods, you’ll also be able to prevent other causes of failed payment transactions, including expired cards, exceeded card limits, and temporarily blocked cards.
Leverage the Power of Brand Ambassadors
“Influencers” may seem like an overused word these days, especially the many aspiring influencers saturating the cyberspace these days. However, well-thought-out partnerships with people that actually matter in your niche and among your target audiences can have a significant impact on the subsequent popularity of your brand and company.
Pick people who don’t only have a huge fan base but also exhibit proficient thought leadership that allows then to gain the trust of their followers. You need people who actually believe in your products or services, and who can capably convey your key communication messages to potential customers. Make sure to generously reward your brand ambassadors and nurture your relationship with them.
Customer acquisition, along with customer retention, is the lifeline of your subscription business. Make sure that you’re employing the right strategies to optimize your acquisition capabilities.