From Microsoft Office to Dollar Shave Club, more and more companies are shifting to subscription models. The reason is simple: There is a clear opportunity for brands in this space.
However, not every company has made the appropriate shift in marketing and customer service. As a result, they haven’t been prepared to adapt to the changes in their industry.
So how do brands continue improving lifetime value in the age of subscriptions? Dutta Satadip, head of global customer operations at Pinterest, will walk executives through this difficult question during a session at &THEN.
Understanding the Customer Journey
If you don’t see your customer’s journey from start to finish, you won’t be able to understand a typical interaction with your brand. Both at Pinterest and in his previous role as Google’s director of customer success in the advertising division, Satadip has focused on the wide-angle view of the sales process.
In a spring 2018 interview with ZDNet, Satadip described customer experience as “the sum of all the interactions that any customer or user has with the business.” He added that it was far more than the transactional element of the relationship.
However, many companies still think of their role in the relationship as handling problems and upselling after the fact. That leaves an opening for mistakes before someone becomes a customer – not to mention the potential for showing inadequate appreciation while they subscribe to your service.
As more brands try to upend established businesses with customer-focused appeals, executives need a way to respond.
Excelling at Every Touch Point
While seeing the overall customer journey is the first step, it’s only the start of retaining that customer for the long haul. Brands need to understand what goes right (and wrong) at each touch point, then act to improve the experience for customers.
Satadip explained to ZDNet how companies have been handling the adjustment. “The big shift that we’re all trying to work towards is, how do we, as businesses, understand these goals and put the customers in the middle of all of our business operations and how we execute internally?”
It’s not going to be an easy adjustment for some executives. However, not making an effort to improve customer retention could be fatal as more businesses leverage data to get ahead.
At &THEN, executives will hear from an expert in the field on how to get it right at “How to Improve Customer Lifetime Value by Keeping the Customer First.”
This article is brought to you by &THEN, DMA’s annual event. Click here to join the leaders of the marketing community and advance your data and marketing mastery in Las Vegas, October 7-9.