Make the right offer, to the right consumer, at the right time. Our chief technology officer Brett McLaughlin explained that’s the key to selling subscriptions during a recent video interview with PYMNTS.com.
McLaughlin said merchants need to analyze consumer buying habits to create the most enticing offers. “If a customer is buying toothpaste, and you offer to send them a tube every week, that’s probably not going to land, right? Who needs toothpaste every week?”
It all boils down to if and how merchants apply vast consumer data streams to ensure their subscription service remains relevant to their users past initial sign-up.
McLaughlin shared an example of how a dog food company could leverage data to suggest when it is time for a pooch to graduate from puppy food to a product more suitable for grown dogs. For an even better customer experience, the company could even send complimentary samples when it is time to switch. The overall result: the consumer continues to find the convenience that drew them to the service in the first place and the business builds brand loyalty, while increasing customer retention.
See the full video interview with PYMNTS.com here.