November 23, 2021 | Authored by: Jesus Luzardo
Your biggest frustration can become your biggest growth driver
At the recent Subscription Show in New York, I was honored to present during two sessions as a conference speaker, one of which focused on the hottest topic of our time: subscription data.
After my talk, I was approached by many people who expressed similar frustration in running their subscription businesses. And it was also about data.
Everyone knows that data is the path to smart, strategic decision making. But there’s a difference between knowing the path and taking the path. Here is where the frustration really begins. Many of our colleagues and partners simply don’t know where to start with subscription data. It seems so complex as to be completely overwhelming. Sure, acquisition is simple, and they may be using data-based retention strategies to persuade current customers to hang on.
The problem begins when looking at the complete picture, or the entire customer journey. It’s the complex integration of subscription data and technology at all these stages in one horizontal and seamless flow that is stumping many businesses and frustrating their efforts to launch a subscription model that can really bring in the wins.
I’m here to tell you that this frustration is not only easily overcome, you can actually turn it around and make it your biggest source of customer satisfaction and revenue. How? Four words: Data-driven dynamic relationships.
What does that even mean?
Let’s break it down and simplify the concept. To do that, I’m starting at the end.
Part of turning frustration to success starts in your perspective. Instead of seeing customers as rows on a balance sheet, think of each customer as a relationship you are building, much the same way as the baker or barista builds a friendly relationship with the customer who pops in twice a week for fresh bread or their favorite cappuccino. A subscription is much more than a product or service. It’s about staying connected to subscribers. That’s what the data and technology is ultimately for.
Like all relationships, the relationship between subscription brand and customer has to be dynamic, fluid, and responsive. Subscriptions today must be flexible to give customers what they want and need, at every stage in their journey. To achieve this, you need the capability to operate dynamically along the entire subscription lifestyle. This is way too complex to be handled without the help of technology. Vindicia’s end-to-end subscription platform is designed to do exactly that – integrate all the moving parts of your subscription model into one coherent customer journey, turning a big problem into a big source of growth. Let us remove the frictions in your subscriptions, and then you can soar.
Subscription relationships must be based on and driven by data. Everyone is clear on this point – we know that data is what provides the capability to see and understand customer behavior and patterns, and that enables businesses to predict future needs and attempt to satisfy them. At Vindicia, we’ve been gathering and analyzing subscription data for 18 years, so we’re experts at how to leverage data without frustration, generate insights and integrate it into subscription strategies and operations. We call it subscription intelligence, because it is the key to building e-commerce connections (relationships) that build smarter (read: profitable) subscriptions.
The time is now
After the COVID lockdowns, many merchants understood that they had not been prepared for the surge in online consumerism and they were left behind. Now is the time to regroup for the future and take the steps to capture the potential revenue of long-term D2C subscription relationships.
The problem is, many companies know they have to do it, but they don’t know how to go about it. We’re here to tell you: technology solutions that support data-driven dynamic relationships already exist, and they are simpler and more effective than you can imagine. Don’t let fear hold you back. Talk to Vindicia and find out how our end-to-end subscription platform can turn your frustrations into business growth.
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