It’s a sad day. You see a subscriber decided to “break up” with you and your VOD service. It’s easy to get discouraged when a subscriber hits CANCEL to end their subscription, but understand this is inevitable for any subscription business.
Similar to relationships, mistakes happen when running a SVOD service. Subscribers may not have engaged with your content as they expected to, they may have encountered personal constraints to continue their subscription, or they simply found something else better. Either way, you need to learn from your “breakups” to develop a solid retention strategy and reduce churn. Together, let’s learn from your “exes” and discover why you should be sending cancelation surveys.
Feedback is Gold
The beauty of running any subscription business is there is time to learn and improve. To understand the full scope of “why did they cancel?” you must send a cancelation survey right away to get their feedback. Don’t waste time! Get ahead of the game to fix your mistakes when canceled subscribers send valid feedback.
Cancelations are an Opportunity
Cancelations are a chance for you to learn how you can improve your VOD offering. A “breakup” is tough to come back from. That’s why it’s vital to ask for feedback! Here are a few suggested questions to ask your canceled subscribers:
- What was the primary reason for canceling?
- What can we do to improve our subscription?
- If we continued to improve our subscription, would you consider re-subscribing?
There’s always light at the end of the tunnel, so don’t fixate on the fact that they hit CANCEL. Take this as an opportunity to learn, strategize and win-back!
If One Person Said It, Another Person Is Thinking It
People react to a poor user experience in different ways. Some are “loud and proud” to announce a poorly developed feature. Some can easily “let go” and hope the experience will improve. Value your “loud and proud” users’ opinions because if they’re saying it, someone else is most likely thinking the same thing.
Reduce Churn & Increase Retention
The prime goal of cancelation surveys is to learn from your mistakes to minimize churn and maintain your retention rate. Don’t waste precious time and stay on top of your cancelation survey feedback. Identify the problem, strategize and act upon it.
Cancelation surveys are not the only ones you should be using. Learn more on how to get feedback during an ongoing subscriber relationship here!
Cancelations are an opportunity to enhance your subscriber experience. Your users are the best source of reliable feedback. Don’t ignore their input! It’s provided to help your business grow and gain loyal, long-lasting relationships.