TL;DR? Checkout this short & sweet twitter thread.
TL;DR? Checkout this short & sweet twitter thread.
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When your subscriber churn is sky high, then as Nik Sharma - founder of Sharma Brands suggests, it’s wise to dive deep into why your subscribers are cancelling.
This is possible with a great customer survey.
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With Loop you can set up an easy cancellation survey and understand the core reasons why your subscribers are cancelling.
You can also embed a Tik-Tok, Insta Reel, GIF or YouTube video to stop your customer from churning.
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We agree with Eli Weiss (former Director of Experience @ Olipop) that skipping is much better than cancelling. Even better is to delay the order by 7 or 14 days.
Loop’s cancellation flow recommends different alternatives for different cancellation reasons.
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Yes, one-time discounts are perfectly possible with Loop. This is how the cancellation flow looks like:
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As Natalie Sportelli (Head Of Content @ Thingstesting) shares from her personal experience as a subscriber, the core reason why she cancels her DTC subscription is ⇒ too much stock.
Getting into the intricacies of why your subscribers are churning is the first step towards preventing churn.
With Loop you get a nice and neat dashboard view of insightful subscriber churn data.
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This idea works so well because it’s so preemptive in nature.Â
Loop also gives brands this option of sending “Skip”, “Delay” & “Reschedule” CTA buttons in upcoming order emails so that DTC customers can easily just click and edit their subscription before the next delivery.
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DTC retention is all about keeping the customer happy and excited. As Eli Weiss suggests, the idea is to reward subscribers progressively.
So a brand can set up subscriber rewards like a free gift on the second order, a 10% discount on the fifth order, a free product trial on the seventh order, a quick product swap on the tenth order and so on.
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With Loop Flows you can do exactly this.
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You can also show your customer what reward awaits them on the customer portal.Â
Gamifying rewards keeps your subscribers excited & engaged. Result ⇒ reduced churn.
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One thing that’s worse than churn is involuntary churn i.e. churn arising due to failed payments.
A great dunning management system can solve for this by:
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1. Setting up multiple payment retries in 2 different billing cycles to improve success rate
2. Sending automated alerts via email/SMS - 30, 14 and 7 days before an upcoming payment
3. Skipping/Pausing instead of cancelling a subscription after all payment retries fail
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Result ⇒ reduced passive churn.
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Subscription reactivation campaigns have the highest ROI.
Loop integrates with Klaviyo &Â Attentive. With this integration, you can get a 1-click export of subscribers, each subscriber tagged with cancellation reason.
Then you can use this export in Attentive &Â Klaviyo to run personalised reactivation campaigns - and win your old subscribers back.
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There are more strategies to reduce churn such as looking at customer churn as a cohort.
But these 7 tactics are a good starting point and are easily doable for all DTC brands.
How many of them are you currently using as a part of your retention strategy?
Reach out to us and set them all up. Reduce churn and save + software costs 🙂