A naukri.com initiative
20VC
1M
187
Phil Carter: The 7 Core Levers to Win at Consumer Subscription
- Phil Carter is a growth advisor and angel investor who helps consumer subscription businesses define their growth strategy.
- The Seven Core Levers to Win at Consumer Subscription include optimizing subscription pricing and packaging, delivering immediate value through new user onboarding, boosting paid marketing efficiency through desktop web flows, optimizing paywall visibility and conversion, distinguishing and emphasizing premium value propositions, leveraging motivation tactics, and utilizing strategic discounts and promotions.
- Key considerations for subscription pricing and packaging include deciding between single vs multiple subscription tiers, determining subscription duration (monthly, weekly, or annually) and revisiting pricing regularly. Common mistakes in pricing and packaging include lack of experimentation and not aligning with customer value.
- User onboarding should focus on delivering value quickly, avoiding long surveys, and addressing common mistakes such as overwhelming the user with information.
- Investing in desktop web flows can enhance paid marketing efficiency. Key tactics include optimizing desktop workflows and leveraging conversion rate optimization techniques.
- Paywall visibility and conversion optimization involve strategies such as determining the right paywall view rate, choosing effective trigger points for paywalls, and refining paywall design. Mistakes to avoid include implementing a hard paywall without first demonstrating consumer value.
- Emphasizing premium value propositions can be achieved through effective differentiation and highlighting unique features. Examples of companies doing this well can provide valuable lessons.
- Motivation tactics like stats, streaks, badges, leaderboards, and notifications can enhance user engagement, but careful attention should be given to avoid overwhelming users with excessive notifications. It is also important to adapt tactics that may have become less effective over time.
- Strategic discounts and promotions can be effective in attracting and retaining subscribers. It is essential to use discounting methods wisely and avoid common mistakes such as excessive discounting. Studying companies that excel in this area can offer valuable insights.
Read Full Article
11 Likes
For uninterrupted reading, download the app