Why Did They Leave?
Of the major factors that contribute to subscriber churn, pricing is often reported as one of the top responses by consumers. But we contend that it isn’t so much of a pricing issue but comes down to the perceived value associated with the service. This can fall into two different categories within a video service:
- Engagement Factors: Perceived value in the content library or nothing to watch syndrome
- Operational Factors: Technical problems and cost
So, as you can see, price-consciousness is a big motivator for many individual’s decisions on which services they’ll continue to subscribe to or join.
If your video service has experienced churn issues (who doesn’t), it is highly likely that many of those former subscribers state price as the highest impact on their decision to leave. But we have good news. Using the tools in the Wicket Scorecard, you can target people with lower prices or price change win-back campaigns!
- Filter your export by
- tenure in the service
- healthy lifetime value
- maintained a high CHI score
- Let them know they’ll get more value for their hard-earned dollar and should give the service another chance!
How to Export the List
- From the Customers tab of the Wicket Scorecard, you can export a list of Lost Subscribers from the primary graph (Fig. 1).
- Filter your export based on the criteria that are important to you and click Export. (Fig. 2) Since you’re trying to lure back those that chose to leave your service but were happy subs, the following are suggestions:
- Status = Lost (Voluntary)
- Tenure = 3+ months
- Last Video View = more than 90 days ago
- CHI Score = Happy (80-100)
- Integrate the data into your preferred email or marketing automation platform to begin your win-back campaign.
Our Customer Success team has helped many of our customers launch campaigns like this. If your team would benefit in developing win-back campaigns through an integrated data approach such as this, be sure to reach out to us. We’re happy to help your video service get back on-track to renewing those lost members.