In Episode 3 of Chew on This: Retention & Subscription Powered by Stay Ai, Ash sits down with Gina and Pierson to discuss strategies for acquiring and retaining customers for a subscription program. They emphasize the importance of focusing on customer routines, offering convenience, and utilizing different offers like free trials to attract customers. They also highlight the significance of upsells, cross-sells, and optimizing landing pages to increase profitability and customer retention. Data insights play a crucial role in understanding customer behavior and improving funnel strategies. Additionally, they suggest offering high-perceived value gifts and ensuring product-market fit before transitioning to a subscription model. Overall, the key takeaways include tailoring messaging, optimizing funnels, and implementing upsells to enhance the customer experience and drive revenue growth!
💰 Focus on acquiring customers first, even if it means offering a discount.
🎯 Personalize post-purchase communications for subscribers and one-time purchasers.
🔬 Monitor churn by product to identify opportunities for improvement.
🎨 Prioritize breakthrough creative testing ideas over iterative testing.
🎁 Consider offering high-value bundles with perceived value to increase average order value.
0:00 - Intro
1:19 - Understanding customer routines and offering convenience.
4:01 - Offers to lower acquisition costs and attract customers.
6:03 - Landing page experiences to educate customers and drive purchases.
7:06 - Upsells to increase AOV and profitability.
10:22 - Tailoring messaging and funnel strategies.
15:08 - Optimize funnels and improve customer retention.
16:01 - Product-market fit and profitability before transitioning to a subscription model.
18:19 - Upsells and cross-sells to enhance customer experience and increase revenue.
21:03 - Low-cost, high-perceived value gifts.
23:14 - Increasing AOV by changing offer structures.
24:07 - The importance of significant changes in offer structures for scalability.
25:01 - Funnels to transition from zero customers to a substantial customer base.
26:08 - Experiment with different offers and optimize payback periods for profitability.
31:21 - Messaging and flows for one-time customers versus subscribers.
33:00 - Creative messaging to remind customers of product benefits.
35:03 - Reduce churn and increase subscriber numbers.
37:10 - Convert one-time buyers into subscribers.
39:44 - Engage customers with interactive experiences to increase loyalty and retention.
46:22 - Final chews.
🩷 Stay Ai - Supercharge growth with Stay Ai, the next gen subscription app for Shopify brands that are serious about growth and performance! Designed by and for marketers, built by world-class engineers and data scientists.🔗 https://stay.ai
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Ron Shah - https://twitter.com/obviceo
Ash Melwani - https://twitter.com/ashvinmelwani
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