16 November 2022 |
122 – Why You Should Invest in Retention Marketing
By Daniel Murray
How do brands create a customer experience that feels like private membership? Through Smartrr software. Meet the Founder and CMO.
Smartrr helps DTC brands by creating a seamless checkout and customer portal experience for subscribers. It also empowers teams to be agile and proactive through real-time analytics and customer success tools.
Daniel gets into conversation with Founder and CEO Gabriella Tegen and Shannon O’Boyle, Marketing Director. You’ll hear how this innovative app started with a problem that needed to be solved, how subscription creates brand advocates, and trends to keep an eye on – like giftable subscriptions.
And if you’re looking to scale your ads profitably, try Northbeam. Developed by data scientists, media buyers, and marketers with decades of experience scaling brands, Northbeam is more than an ecommerce analytics platform – it’s your guide to profitable growth.
Visit northbeam.io to request a demo now.
Keep up to date with the latest news from The Marketing Millennials:.
Follow Daniel on Twitter: twitter.com/Dmurr68
Sign up to The Marketing Millennials newsletter: workweek.com/brand/the-marketing-millennials
Daniel is a Workweek friend, working to produce amazing podcasts. Find out more, visit: www.workweek.com
02:27 Next Gen Subscription Apps
07:00 The Right Way to Treat Your Customer
11:18 Creating The Right Functionality For The Job
15:12 Subscription VS Membership
19:39 The Perfect Combination Business Model
23:59 How to Flip Your Funnel
28:24 How to Create Brand Advocates
31:29 Sound Advice
37:51 Who’s Inspiring Smartrr?
Why You Should Create a Subscriptions Service For Your DTC Business
A subscriptions service is an excellent way to keep consumers coming back and buying from you again and again. These services work well with other DTC business models like dropshipping or affiliate marketing. Here is why you should consider setting up a subscriptions service for your DTC business.
What is a Subscriptions Service?
A subscriptions service allows you to sell unlimited products on a recurring basis. While the service is convenient for customers, it also ups your chances of making more money. In fact, a subscription service is a good way for online businesses to make recurring revenue. Instead of making one-off sales, you are making recurring revenue that can boost your business over time.
You can set up a subscription service in two ways — either with a software or an ecommerce platform. Depending on the type of business that you run, you might find that one is more suitable than the other. If you have an ecommerce store, it is relatively easy to set up a subscription-based service. All you need is the right software to set it up. However, if you only have a website without an ecommerce store, it is a bit more difficult to set up a subscriptions service.
Why Set Up a Subscription-Based Service?
A DTC subscription-based service is excellent for retaining customers and finding new ones. It gives you a chance to upsell your customers and earn more money from them over time. Customers also appreciate that you have provided them with a service that works well for them and their needs. In doing so, you may also set yourself apart from other DTC businesses that choose not to offer subscription-based services.
There are many benefits to setting up a subscription-based service for your DTC business. Customers can cancel or modify their orders whenever they want. This means that you don’t have to deal with large scale orders or excessive inventory. Customers can even schedule the products they want to receive on a regular basis. This means that you get a regular flow of income that you can expect each month.
Many businesses also find that they make more money with subscription-based services. This is because they don’t have to deal with one-off customers. Subscription-based services are recurring, and you can expect the same customers to come back again and again.
How to Set Up a Subscription-Based Service for Your DTC Business
You should think carefully about how you set your subscription-based service up. You also need to consider how many products you offer and at what price. If you offer too few products, you may not have enough to offer your customers. If you offer too many, you may overwhelm them and confuse them.
Setting up a subscription-based service for your DTC business is all about finding the right balance between what you offer and how much you charge for those products. You need to decide what types of products you want to offer and how often you want them delivered. You also need to decide on the price that you charge for these subscription-based services.
You can offer different subscription-based services at different prices. You can also decide which products you want to include in your subscription-based services. The easiest way to set up a subscription-based service is to use an ecommerce platform. There are many ecommerce platforms that come with an integrated subscription service.
There are, however, some problems with setting up a subscription-based service for your DTC business. Your customers may feel that they are being forced to subscribe to your service. They may also feel that their money is being wasted if they don’t use all the products that you have included in their subscription.
You may also confuse your customers by having too many subscription-based products. It is important to choose wisely when setting up a DTC subscription-based service. You also need to be careful not to overdo it. There are many businesses that offer too many subscription-based products. This can confuse customers and make it difficult for them to choose which service to sign up for. You also need to make sure that the subscription-based services you offer are useful and relevant to your customers.
A DTC subscription-based service is a great way to boost your revenue and keep your customers coming back to you again and again. It is also a great way to keep your costs low as it gives you less product to store and less product to ship.
It is important to remember that a subscription-based service is an ongoing process. It is not something that you can set up and forget about. You need to keep your customers happy and coming back for more. You also need to keep them excited about your product so that they can continue to spread the word about the service that you offer.