At the AOP Digital Publishing Summit last week, Ben Wood, MD of B2B financial services brand Risk.net, talked about their successful subs programme. Revenue has doubled over the past five years, and it seems, engagement data drives everything.
Knowing who is using your service and who is not, how long they’re spending on it and what they’re using it for, provides highly actionable data for subs marketing, client engagement and product development teams to do what they need to do to drive subs revenues.
If two or more people in the same company are single subscribers, then that’s the trigger for the enterprise subs team to try to sell them an enterprise subscription.
If new subscribers are not logging on, then the client engagement team gets on their case because they know that if subscribers don’t engage within the first month, they are ultimately much less likely to renew.
Heavy usage by subscribers gives the renewals team all the ammunition they need to pitch the renewal effectively, confident in the knowledge that their service is valued.
A previously regular user has moved on? That’s your cue to 1) establish contact with his replacement 2) find out where they’ve gone and try and sell him a sub there.
In-depth knowledge of how subscribers are using your service informs the product development team as they work to create higher priced premium content bundles to upsell to their subscriber base.
It’s not enough to have engaged subscribers; you need the metrics to prove it and the granular insights to direct your day to day marketing and publishing activity. Risk.net shows it works.