To understand your retention opportunities and trends, you need to have a simple way to track attrition patterns. But you also need a methodology which accommodates different billing periods and the fact that some customers pay for only part of a term and then cancel. Part of our four-part INSIDE Metrics series on measuring subscription retention, this on-demand tutorial outlines the basic concepts in the series and specifically, train viewers on using the detailed Excel spreadsheet in Part III of our INSIDE Metrics: Retention series.
Bill Baird, our INSIDER Guide to Inside Metrics, is a leading Internet subscription marketing advisor, specializing in insightful metrics and marketing practices to help subscription-driven online properties convert and retain more visitors and customers.
His clients have included AmericanGreetings.com, Consumer Reports Online, Socrates.com, Edweek.org, Merriam-Webster.com, The Motley Fool and numerous others. He is a contributor to numerous industry trade magazines and websites, as well as a popular speaker for a variety of web marketing trade organizations.
Prior to becoming a consultant, he oversaw 15 years of expansive growth at The Synapse Group, Intuit, Ziff Davis Media and Time Inc. Magazines
Effective monitoring of subscriber retention is the result of understanding retention opportunities and trends, tracking attrition patterns, developing a tracking methodology, and applying those metrics in order to manage your retention business more effectively. Use this excel workbook to track and manage your subscribers and members.
We are publishing a three-part INSIDE Metrics series on measuring subscription retention.In this article, Part II, we will provide some basic retention measurement concepts; show you how to use the Retention Trends Report to spot changes in your business early; and introduce the Retention Detail Report, which is the most complex and powerful report in the series.
To understand your retention opportunities and trends, you need to have a simple way to track attrition patterns. But you also need a methodology which accommodates different billing periods and the fact that some customers pay for only part of a term and then cancel. Part I of this guide introduces two basic measurement concepts. Then Part II shows you specific ways to apply those metrics to manage your retention business more effectively.
In this Inside Metrics Guide, Site Overview Reports, we will talk about two high-level reports which are the radar scope which enable you to benchmark high-level business performance across revenue sources and identify areas where you need to do closer research.
In this Inside Metrics Guide, the Subscription By Channel Report, we will talk about how to interpret any report in 3 minutes or less and specifically, the Subscription By Channel Report.
The Four Basic Secrets to Leveraging Your Numbers will outline a few fundamental secrets to building a reporting infrastructure that you can really leverage. There are four in all:
Have a clear, actionable purpose behind every metric;
To think like a marketer, obsess about drivers -- not total numbers;
Benchmark your marketing drivers in these three ways; and,
Align marketing, finance and operations metrics at the outset.
Here are ten takeaways from Bill Baird from the Mobile Marketing DMA that you can use as a springboard as you plan and implement your mobile marketing and content strategies.