It is not just retailers who associate their success with the ability to hold on to regular clients. The owners of online publishing businesses, too, would assert as one that their success heavily depends on retaining loyal subscribers. And while the strategies for the former are much talked about, commonly known and widely applied, the strategies for the latter aren’t the same, because of the business’ specifics.
It has been proven by a couple studies that acquiring a new customer requires six to seven times more effort than keeping an old one loyal. Therefore, no matter what business you are in, it is utmostly important to avoid the defection of customers you have worked so hard to get, if you struggle to outpace the competitors and become the winner in the end.
Now, if you take a closer look, you will see that customer defection is a broader problem than it may seem. Not only will you work even harder to acquire new customers in place of the gone, but also these gone ones will share their disappointment with the company’s services and eventually determine your reputation on the market – and turning it back to your advantage will be an extremely difficult task. What makes the danger of customer defection even more feasible for media brands is today’s nature of the web: the abundance of alternative and competing information channels and sources, always on and just a click away from a user. So, how can you withstand?
It is definite – you need to create a loyalty platform, a set of loyalty elements constantly integrated into the subscriber’s experience with the brand in order to provide extra value. Some performance areas in publishing business which can be optimized with the purpose of using them in loyalty programmes include:
- Niche. You should try hard to eventually find a niche in the market in which you are especially strong and able to reinforce value with subscribers.
- Design. The design of a loyalty programme must be a recognizable, easily associated with the brand, naturally integrated, yet having its own distinct brand identity, presenting the core brand’s re-interpretation.
- Content. Solely that content really adds value which is though-provoking, of high quality and trusted journalism, and providing access to money can’t buy events.
- User experience. Product development and marketing play an important role in nurturing customer loyalty, but there are other things that matter even more – behaviour, motivation, human principles and emotions, for instance. So, try to figure out what helps to retain subscribers, what makes them unsubscribe and what prevents them from doing so, then attempt to change their behaviour appropriately by giving more of things they do want.
Ultimately, the right combination of great design, targeted content, seamless experiences and interesting promotions can make your loyalty platform a regular and indispensable part of subscribers’ daily lives.
Remember: you create value for customers, this value builds loyalty, and loyalty in effect brings profit and in its turn drives more value.