Feb 24, 2020
Why you have to check out today’s podcast:
- Learn how to calculate expected Customer Lifetime Value (CLV) value in order to create profitability quicker in your subscription business
- Learn how to use customer data to optimize your subscription pricing
- Rules and regulations that you should understand about subscription deals
Kathy Sexton is a CEO and Publisher at Subscription Insider. She is an executive leader with specialties in market strategy, brand development and digital information products.
In this episode, Kathy talks about how to build, market and sell profitable subscription-based products and services, the different subscription payment operations that drive higher profitability and also shares different customer success solutions that is available in the subscription industry.
"Make your products easy to cancel, make it a great experience and people will come back."
- Kathy Sexton
Get COV’s Pricing Metrics:
The Most Important Pricing Decision in a Subscription Business Course at https://www.championsofvalue.com
Topics Covered:
01:31 - How she got started in subscription and what is her mission in the subscription industry
03:32 - What companies does subscription economy cover
06:22 - The differences and similarities of subscription companies
08:08 - Of take-rate, acquisition rate, and retention rate
14:02 - Are insurance companies under a subscription economy
14:48 - Cohorts versus direct marketing
18:20 - Big Pricing issues in the subscription industry
19:50 - What is a negative option
24:15 - Rules and regulations that you should understand about subscription deals
Key Takeaways:
“Talk to your customers deeply and really understand them. Understand the nuances that don't come through a survey.” - Kathy Sexton
"Honestly with any business, you want to have that direct relationship with your customer. So if they have any issue, they come to you first and not to some third-party provider, the worst thing you want is just to have a cancellation. No reason why you've lost that business and no way to recover it." - Kathy Sexton
"Good business is making it easy, very understandable, and then people are going to want to do business with you." - Kathy Sexton
People / Resources Mentioned:
Connect with Kathy Sexton:
- subscriptioninsider.com
- E: kathykgsexton@subscriptioninsider.com
Connect with Mark Stiving: