The internet has birthed the age of the informed consumer and shifted the balance of power to them. During this shift consumers have adopted the subscription model as a way to equitably exchange value for cash under a new business relationship.
The subscription business model is continuing to permeate every industry, fundamentally changing the way companies market, sell and services their customers. The challenge subscription businesses face is that the customer expects one unified voice from you, but businesses operate in disconnected silos. This operating environment makes it difficult if not impossible to identify customer “state” leaving each business unit to operate on their own all pushing messages at the customer and lacking any real dialogue.
In the Subscription Economy it is unacceptable for a customer to have a disconnected experience from their various touch points. Your customers are in a relationship with your business and expect you to interact with a keen awareness of what that is and who they are.
The lack of cohesive brand experience has serious implications as it leads to churn, social media complaints, reduction in up-sells, increased service tickets and a rising DSO for finance.
1. You Must Have a Unified View of the Customer
2. You Must Have Someone Own the Customer Experience
You need someone responsible for the customer experience from a holistic perspective. They should create a comprehensive customer experience strategy that breaks down into business unit tactics and critical safe guards to prevent the all to common faux pas.
For example, sending marketing emails to the upset customer who is working with support or sales trying to upsell the customer who isn’t using the tool or the service rep who doesn’t know what the customer owns and how they are using.
If you are looking to drive new subscriber growth, retain more of your subscribers, reduce churn and improve your upsell, cross-sell and referral business then its time to call Executive Answers, your partner for subscription growth.