Dimitar Serafimov| Fri Aug 30 2019 CET| Analytics
As we enter a new age of entertainment—one of the streaming variety—the space is becoming increasingly saturated which means that as an OTT provider, focusing on your subscriber retention rates is essential to your long term success.
In the digital age, keeping your subscribers is as important, if not more so, than acquiring them.
We are confident that by drilling down into the metrics provided by a Subscriber Retention Management (SRM™) platform, rather than relying on traditional Customer Relationship Management (CRM) data, you’ll evolve faster in this new era of digital subscriptions.
A significant rise in acquisition costs (the marketing cost of fresh subscribers for Netflix US alone is around $100) coupled with the pressure to encourage viewer loyalty beyond a handful of months, means that subscriber retention a far more economically feasible growth option for today’s OTT players.
By placing focus on your subscriber retention rates and investing in long term subscriber loyalty, you will help your service to scale by building your audience incrementally, empowering yourself to invest in other critical areas of the business as a result. If you keep playing the acquisition game alone, you’re likely to burn up your budget, treading water in a space that’s becoming more competitive by the month.
Based on the understanding that customer retention will help you scale your business and boost brand awareness, we’ve developed a cutting-edge SRM™ dashboard that serves up a host of invaluable data.
Our SRM™ dashboard is centralised, user-friendly, offers a clear snapshot of the subscriber journey, and provides invaluable retention insights based on a balanced mix of relevant metrics.
This dynamic dashboard will:
The OTT arena is becoming incredibly cutthroat. To thrive, and of course, survive, keeping your subscribers on board is essential—investing in your subscriber retention rates, you will push yourself ahead of the pack, scaling your service year after year, after year.