When it comes right down to it, your subscription business is all about relationships. And just like any relationship, there are ups and downs, especially the longer you’ve had a customer. Of course, you want to do anything possible to prevent your customers from breaking up with you. Nobody wants a customer to churn. So how do you create positive feelings about your subscription business?
While you may think your brand has a solid foundation, the emotions it evokes in your customers is what can make or break your success. The market is full of competitors who have amazing offerings and the emotions your customers feel about your company can mean the difference between customer loyalty and customer churn. It’s imperative to create and sustain positive customer relationships if you want your business to survive. Your customers aren’t just data points for you to analyze, they are living, breathing people who can love you one day, and leave you the next. So, what exactly do you want your customers to feel about your brand?
Here are the top three emotions you want to evoke in your subscribers.
Satisfaction
To keep customers happy and coming back month after month, they must be satisfied with what they’re getting from you. This means you must always offer something that meets or exceeds their expectations. Quality counts. Always listen to feedback, provide up-sell incentives, and reward loyalty to ensure your customers are satisfied with you throughout their lifecycle.
The emotions your customers feel about your business can make or break your success.
Connection
Everyone wants to feel connected, and we all crave a sense of community. Your brand provides that connection. Your customers could be spread out around the world, but they all have one thing in common: you. Your business is a sort of community that people used to have when family members all lived nearby or when people all attended the same church or school. People are willing to pay a premium for this connection, which creates customer loyalty and retention.
Confidence
With so many options available for today’s shopper, people can feel overwhelmed by all the choices at their fingertips. Sometimes this can fill people with anxiety and doubt. Experts call this decision fatigue. Decision fatigue occurs when people are exhausted from having to weigh the pros and cons of every purchase they want to make. Should they choose this option or will that over there be better? It’s your job to simplify the decision-making process by eliminating the need to look anywhere else. You want to make your customers feel confident, knowing they’ve made the right choice
Having a smooth, pain-free payment process is a valuable way you can ensure your customers feel great about your subscription business. If payments stop — either because the customer no longer wants to continue buying from you or because of a problem that prevents them from paying their bill — the outcome is the same: a lost customer. To combat this, you need to have a dynamic failed payment recovery program in place.
Proactive subscription businesses want to keep their customers happy and will work to make sure every customer has a rewarding, positive ongoing relationship with no regrets. When customers feel good about doing business with you, they will look forward to receiving your product or service for months to come, which means increased revenue and growth for your company. A win-win situation for everyone.
To learn how Invisible Recovery™ can help your subscription business improve retention and create a positive customer experience, check out our latest eBook How To Improve Subscriber Retention by Building Stronger Relationships or schedule a consultation.
