For Subscription Businesses, Retention Takes a Front Seat
Brightback, which offers automated customer retention solutions, wanted to learn more about how subscription businesses retain customers so it tapped more than 300 c-level executives and founders across 28 different industries to gain insights.
And while the firm found that 97 percent of those polled said customer retention was a top priority, the “initiatives, challenges and tools differ” among respondents based on whether they were B2B, B2C or B2B2C. Still, the researchers said businesses can deploy successful retention tactics regardless of business type.
Millions of consumers have various subscriptions — from online media to beauty boxes delivered to one’s home, the subscription industry is large, and growing. According to Hitwise, web site visits to subscription box sites have grown more than 20 percent this past year. But as the industry matures, retention becomes more critical.
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