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5 Tips for Growing Your Subscription Business

3 66 20
20.03.2019

As the SaaS industry grows, and even video games move closer to a subscription basis, this is a good time to take a look at subscription model-oriented growth strategies.

Related: You Too Can Grow a Successful Subscription Company. Here's How.

Remember, subscription-based businesses have their own unique benefits and pitfalls. Customer acquisition isn't everything, and you need to take extra care in order to nurture and build trust with subscribers. Here are five strategies for doing that:

If the price isn’t right for the customer, then your business is going nowhere. Your offer must be priced at a level that feels right to your target audience. If it’s too cheap, your customers may not value your offering. If it’s too expensive, either they won’t buy, or they’ll become reluctant and remorseful buyers, the kind who ask for a refund.

As a subscription business, you should view pricing as a strategic and competitive advantage. So, if another business comes along with a different offer, be careful because you could be outpaced. To remain competitive, you need to be flexible.

Related: Why You Should Use a Subscription Business Model

Bear in mind your renewal structure. The average retention rates for most subscription businesses is around three months. With a monthly pricing model, your members can effectively leave at any time, so you want to........

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