The rate at which people cancel their subscription to your service is a direct reflection of the value they see in it. If you want to show that your brand is worth it, you must encourage and facilitate subscriber retention. Here are five tips to help you do just that.
1.Address Involuntary Cancellations
Accidentally failed payments are the main cause of involuntary cancellations. Your clients want to pay for and continue to use your service, but they bump into a problem while paying.
The easiest way to reduce complications is to work with an automated invoicing service. It will alert users whenever they need to update their registered form of payment or look into any issues in order to keep their subscription from being cancelled.
2. Revamp and Improve Look and Feel
The two main catalysts for a successful OTT app are user interface and user experience. In order to keep users hooked, visuals need to be attractive on all devices.
If your app doesn’t look or work the right way, users will spend less time interacting with it. Low levels of interaction are one of the best indicators for a bad user experience, which will eventually lead to a cancelled subscription.
3.Be Strategic About Pricing
Don’t just settle on the first price model that comes to mind. Continuously analyze competitors, compare prices, and make sure that you are providing the best possible value to your clients. Afterwards, you can share that data with you subscribers!
You should always focus on properly communicating the value your app brings to your subscribers. Push notifications via email and in the app can help with that. You should also make it an important aspect of your marketing strategy.
4.Add New Content Periodically
If subscribers feel that they’ve used up all of the content options you have available, they will be tempted to abandon your service to experiment with another one. Offering new, appealing content regularly is one of the best way to keep your clients committed.
5.Focus on Engagement
It’s not enough to just get new subscribers. As soon as they sign up, it’s up to you to keep them engaged. The data collected from viewers will provide key information that can be used to keep them hooked.
A high rate of cancelled subscriptions (more than 5%) is a problem for OTT brands that are hoping to get a higher share of the market, regardless of how good their content library is. In Fractal Media we highly recommend you to follow these tips in order to have more success with subscriber retention and save yourself the cost of having to replace lost clients.
Remember that the best way to guarantee satisfied users is to design an app that they love to use. Take the time and invest in an excellent user experience for all platforms and devices. It’s the best investment you can make.
If you want to know more about how to retain your subscribers or how to create your own compelling and effective OTT platform, please email us at firstname.lastname@example.org