Retain: The Customer Retention Podcast
Should Your Business Be Subscription Based? With Ben Fisher, CEO of Rodeo
Dec 5, 2023
Ben Fisher, CEO of Rodeo, discusses the pros and cons of subscription-based business models. They explore topics like dealing with churn and retention rates, increasing revenue through subscriptions, and the challenges of matching consumption with replenishment intervals. They also talk about surprising and delighting customers in retention strategies and mention standout marketers in the industry.
33:45
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Quick takeaways
- Prioritize a positive customer experience and focus on customer needs and preferences to foster loyalty and retention.
- Offer subscription flexibility and avoid excessive discounting while incorporating additional perks to increase customer retention.
Deep dives
Importance of Creating a Positive Subscription Experience
Building a successful business off of customer subscriptions requires prioritizing a positive customer experience. Unlike Amazon or HBO, where customers forget and receive their products, the tangible nature of consumer packaged goods (CPG) makes subscription reminders more impactful. The key is to provide a subscription service that adds value and avoids overwhelming customers with unwanted products. By focusing on customer needs and preferences, brands can foster loyalty and retention.
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