Guaranteed residual revenue through subscription models is hugely attractive and highly scalable — but missteps could lead to costly attrition and churn.
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Guaranteed residual revenue through subscription models is hugely attractive and highly scalable — but missteps could lead to costly attrition and churn. Join Netflix Head of Payments Luis Vargas to learn how payment models factor into success and how to turn subscribers into the profitable customers you hanker for.
Back in the day, a subscription service meant a membership to the gym, not a way to binge on online videos during the weekend. Those days are long gone. Subscription models popularized by Netflix and the like have changed the way consumers buy and consume content and products. The affordability, accessibility, and variety associated with subscription services have led to big profits and happy customers. Just look at 75 million subscribers Netflix hasunder its belt. Or, the 20 million paying subscribersand 75 million active users on Spotify. Or services like the beauty box subscription company Birchbox and grocery delivery and meal planning service Blue Apron.
We’ve all seen what happens when businesses fail to grasp consumers’ love of subscription services through the rise and fall of Blockbuster, but that doesn’t mean any subscription plan is better than none. Despite signing up A-list musicians and having the Jay Z brand, Tidal continues to strugglein growing paying subscribers to match its more profitable competitors. Any business devising a successful subscription model must take in great consideration what makes the service attractive to consumers in the first place.
Being aware of the domestic and global trends in the online market is a good start. Did you know that newer, and avid, internet users in BRIC countries(Brazil, Russia, India and China) are more willing to subscribe than U.S. and UK markets? Key information like this will help you better plan out your subscription prices internationally and at home. Speaking of pricing, understanding the psychological aspects of subscription services will help your business attract more customers, such as this Yale studyshowing consumers are less likely to buy an item if it’s paired with a similar item at the same price, than if the prices were slightly different.
For this webinar, we put together three vital ways for businesses to improve their subscriber value by a significant margin. This webinar features Netflix Head of Payment Luis Vargas. Register today to learn how to improve your subscription service for your company and customers.
Don’t miss out.
In this webinar, you’ll: Learn how to convert your users into long term subscribers for revenue you can count on Improve your payment system to actually increase overall revenue Get insight into the changing feel of a global marketplace as it pertains to your untapped subscriber base
Speakers: Luis Vargas , Head of Payments, Netflix Evan Schuman , Moderator, VentureBeat
More speakers to be announced soon.
This webinar is sponsored by Worldpay.
More information:
With more than 25 million members in the United States, Canada and Latin America, Netflix, Inc. [Nasdaq: NFLX] is the world's leading Internet subscription service for enjoying movies and TV shows. For US$7.99 a month, Netflix members ... read more »
We're a global leader in payments processing technology & solutions for business customers. We operate reliable & secure proprietary technology platforms, enabling companies to accept a vast array of payment types, across multiple chan... read more »