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Leveraging Data for Subscription Retail Success
Subscription buying successfully addressed nearly every facet of consumers’ lives in 2020. By carefully analyzing customer data, brands can build on their relationships with subscribers to stay competitive in the crowded subscription retail landscape.
Like many other industries, subscription retail and publishing brands experienced both successes and challenges throughout the pandemic. On one hand, streaming services and educational publications boomed to meet the needs of content-hungry consumers. Food and beverage subscription boxes saw major gains as people avoided grocery stores and restaurants, instead enjoying cooking at home. At the same time, ad revenue decreased for many publishing brands as uncertain advertisers pulled back campaigns.
While acquisition was strong for subscription brands in many categories over the last year, somewhat predictably, customer churn has started to creep in as the “light at the end of the tunnel” of pandemic-related restrictions begin to lift. So how can brands not just retain and maximize relationships with the subscribers they’ve gained, but also continue to reach new subscribers who are likely to respond and provide high long-term value?
The answer lies in effectively leveraging first-party customer data to fuel growth across every stage of the subscriber journey. For subscription economy brands, one of the best ways to accomplish this is to work with a data partner that can take a holistic view of customer intent and help inform the best marketing decisions using comprehensive and highly predictive data assets.
Our Division Vice President of Publishing and Media, Jan Chandler, recently spoke with SUBTA CEO Paul Chambers about the opportunities available for subscription brands to effectively leverage their first-party data to achieve success. Click below for the full video interview.
Wiland has connected hundreds of subscription retail, publishing, and media brands with millions of high-value new subscribers, enabling them to achieve and exceed their revenue and profit goals. Reach out today to see how we can help you reach and understand your customers as never before.