The vice president of audience and circulation at the Las Vegas Review-Journal in Las Vegas, Nevada, Chris Blaser spearheads efforts to boost audience retention and revenue for this local daily newspaper. As part of his focus on retention, Chris Blaser endeavors to reduce potential damage from churn.
A company’s churn rate shows the rate at which its customers or subscribers discontinue engagement or cancel subscriptions over a given period of time. Although attracting new subscribers is great, companies that fail to keep them will continually court failure.
Independent industry resources such as MarketingProfs and Smart Insights have released a range of tips to help subscription-based businesses limit churn. Reinforcing feelings of connection is key. Wise companies should reach out to their subscribers regularly in personalized ways. This outreach is particularly important for new subscribers who have yet to solidify a comfortable relationship with a company. It may also be beneficial to give new subscribers a small gift to welcome them and demonstrate appreciation. In order to better personalize subscriber interactions, companies will want to consider segmenting their customer bases. It makes little sense to reach out to long-term subscribers and newcomers with the same methods and campaigns.