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When one of Eastern Europe’s top fitness personalities approached us in April 2021, the growth of their VoD subscription platform was about to enter stagnation unless action was taken to optimize KPIs. Despite a big organic reach on social media, the number of new users on the website wasn’t growing stably. No communication had been established with acquired clients inside the platform leading to low engagement and a high churn rate. As a result, the platform’s bestselling offer – a 3-month package – had the lowest LTV! We like our clients’ clients to be charmed, not churn, so we rolled up our sleeves and got stuck in.
Our main objective was to help the business grow its revenue as the amazing potential of social media reach and massive website traffic wasn’t fully leveraged.
After analyzing the current stats, we concluded that – as often happens in subscription businesses – the company’s growth would soon stagnate due to its high customer churn rate.
Even if the business continued to acquire the same amount of new paying users, the income generated wouldn’t be enough to cover the number of users canceling their subscription. Lowering churn is one of the keys to increasing your users’ lifetime value (LTV) which in turn boosts the overall value of your business.
Even if the business continued to acquire the same amount of new paying users, the income generated wouldn’t be enough to cover the number of users canceling their subscription. Lowering churn is one of the keys to increasing your users’ lifetime value (LTV) which in turn boosts the overall value of your business.
We created a multiple step funnel and started with adding more traffic sources (also paid) at the beginning of it. Adding a blog and establishing a content publishing strategy helped us rank better on organic keywords and also engage our acquired users. We also created multiple landing pages for seasonal campaigns and optimized the home page to increase conversion rate. When it comes to the checkout process, we added an email abandoned checkout sequence for users who entered the process of account creation and also started remarketing users on both Google Ads and Facebook. It was very important for us to make sure that after users became our clients they’re also being communicated – via newsletters with blog content, messenger bot and regular updates on changes in the platform.
By creating a multi-channel funnel that included more sources of traffic and user communication on every stage, we were able to triple monthly revenue in 6 months time. Using perpetual launch technique and series of seasonal campaigns, we were able to lower churn which resulted in the higher lifetime value of users and also increased profits.