Dose #75: Up Your Data Game

Matt here with your weekly Subscription Prescription 💊

Data is just that buzzword that won’t go away. Data that doesn’t let you build a better business isn’t worth much, so in this week’s dose, we dive into some simple ways you can collect data to transform your business. Something you can do before the purchase, afterward, during the life of the subscription, and when someone cancels.

This week’s podcast: an interview with Paul Chambers

If you aren’t subscribed to the Subscription Prescription podcast, then this week’s episode is the time to start. I sit down with Paul Chambers to talk through ways you can engage more with subscribers. Engagement = revenue.

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Data is that one thing we know we need, we often pay for, and don’t always make the best use of it in our day-to-day business decisions.

Data is just everywhere. Sometimes, there’s too much of it, or we don’t know what will move the needle for our business.

Subscription Prescription is all about trying to simplify the complicated and overwhelming, so in this dose, I will share some simple data points you need to scale your business.

Data Before Purchase

You're missing out if you don’t have a quiz on your site. Forget that popup for 15% off when someone subscribes; prompt them with a quiz. You should get more than an email from someone!

Subscriptions are a commitment for many people. They want a solution. Common quiz types include “find the right vitamin for you” or “find the right food for your pet” and end in product recommendations.

Think of it like this: a quiz gives you more control over the purchase experience. Instead of someone hitting a product page, you can walk through a series of questions. They share more about their problem, what they need, and who they are… it opens up a whole new world of engagement.

You will learn a lot more about the customers hitting your site so you can improve the offers you make to convert them.

Data After Purchase

The number one recommendation I make to any subscription brand I work with starts with the post-purchase survey.

You want insight into why people purchase. More than where they came from, you can ask people what made them purchase the subscription, what they’re hoping to get from it and dive deeper into assumptions you’ve made about the product (i.e., customers want it for weight loss, so ask what they’re doing with it to check that assumption).

What do you get from post-purchase data? You get copy you can use in ads and on the product page. You have insight into why someone subscribed (and this hints at why they would cancel). You can learn more about what is motivating people to jump on the subscription instead of waiting.

Post-purchase data will help you get better at acquiring customers who want a subscription while understanding what they’re thinking.

Data During Subscription

Simple. Not every month, but the month before a significant drop-off point or at Month 3, email customers after they get their order. Ask them how they like the subscription. Make the options Bad, OK, and Great. Bad + OK open a survey or customer support ticket to discover what’s wrong. Great is a link to leave a review, share it as a gift, or something else for people who love the product.

You learn more about how customers feel while proactively keeping someone who would churn OR incentivizing someone who loves the subscription.

Data After Subscription

Cancelation surveys. When you’re just getting started, this isn’t super critical. Acquisition is the biggest issue. But this is a must-have once you start getting 10-15 cancels a month.

An excellent cancelation survey first attempts to keep someone from canceling. Depending on why someone wants to leave (price, too much product, etc.), you can make them an offer. That saves revenue.

When someone cancels and tells you why - that’s invaluable data. Maybe something is off with the shipping or flavor, or they have too much product. These issues can be improved if you know what’s going on.

The beauty comes when you take data from these points and tie them all together.

Tying it All Together

While each step will positively impact your subscription program, the real power comes from tying it all together.

When you understand the type of customer coming in, what they’re expecting, what is happening, and why they cancel… you can craft a better program from start to finish. I’m talking brands boosting conversions 30% and retention 40% kind of good. They understand better what’s happening, get proactive, and make it work better.

That’s what you can make happen with great data.

That’s it for this week’s dose! If you have any ideas or questions about good questions to ask, hit reply and ask away.

Stay tuned for Dose #76 next Tuesday!

- Matt Holman 🩺

The Subscription Doc