Last week on Friday Live Episode 44, we kicked things off with a special workout feature from one of our clients, MELT Method! MELT Method employs the use of gentle tools to help with fascial tissue remodeling, pain relief, and performance improvement. Sue Hitzmann, the Founder of MELT, guided us through a lower body stability sequence during Friday Live from her On Demand platform. Subscribe to her channel and receive a free 7 day trial today!
From the IV workout studio, Matt and Ashley took us back to the production room to cover the industry’s news update, automated workflows for your free trial subscribers and the question of the week.
Matt’s FL News Update
DIRECTV’s OTT channel, DIRECTV NOW, has grown substantially over the past two years. They ended this past quarter with the addition of 341,000 new users, and 1.8 million total users for the service. On the flip side, Comcast recently reported their second quarter earnings, and they lost more than 140,000 cable subscribers. This divide illustrates the prominence of the OTT cord-cutting phenomenon, where viewers are abandoning cable television and opting for streaming video services instead.
Another trend making an appearance in the OTT space is the increasing popularity of eSports – a form of competition using video games. Analysts at Goldman Sachs predict that by 2022, over 300 million viewers will be tuning in to watch streaming coverage of eSports, via different OTT offerings. In due time, Goldman Sachs foresees eSports surpassing the viewership of both the NHL and MLB.
SVOD Tips & Tricks
During this week’s SVOD Tips and Tricks portion of Friday Live, Ashley and Matt discussed free trial email campaigns. Free trial campaigns is an effective method for getting new users through the front door and converting them to paid subscribers. On average, 66% of trials will convert to subscriptions in the B2B space, and 62% for B2C. With number like these, it makes sense for subscription businesses to integrate this automated marketing tactic to methodically reach warm and cold audiences.
Here’s our example of a 3 message email conversion campaign for your free trial subscribers:
#1. Welcome and First Step
This email is typically sent out immediately after someone signs up for your free trial. This is a good place to reiterate what you are offering and how long the free access will last. Here you should advise them to download your app and take a closer look into your videos. Also, use this email to introduce them to your community and social media accounts, so they know where they can connect with other subscribers and reach out to you with questions.
#2. Download the Apps
Your second email should be triggered a day after your first. The purpose of this email is to encourage free trial users to go download your app, if they haven’t already. Include app badges at the footer of the email, linking to the app store, so they can easily download with one click. Assume that users receiving this email don’t really know you or your brand just yet. Show them what people are enjoying about your product through customer testimonials.
#3. Top Benefits of Offering
Your final email should be sent out 3-4 days later. This is a place for you to list out the top benefits of your product. Explain why it’s awesome and why your free trial users should stick around. Highlight your offering’s ease of use and accessibility, as well as your community content. Make sure they understand the full benefit of subscribing and show them again, where and how they can access your app. Include here a clear and simple call-to-action that will encourage them to be a paid subscriber.
All in all, free trial email conversion campaigns are a great funnel builder and produce substantial conversion rates. They are a spectacular method for converting free trial users to subscribers. If you’d like the full PowerPoint deck on Free Trial Automated Email Campaigns, email us at firstname.lastname@example.org!
Question of the Week
This week’s question came from one of our viewers and tied in nicely with this week’s core topic – email campaigns. They asked: What are the top metrics I should pay attention to when executing an email campaign to an audience? The top two metrics Ashley recommended focusing on were:
#1. Open Rate
This is your first win and essentially translates to an effective subject line. You have to have a strong subject line if you want people to open your emails. Little to no opens will affect the success of your whole campaign. If the audience you’re targeting with your email is your current subscribers, you’ll want to see higher open rates to demonstrate your brand affinity.
#2. Click Through Rate
Your click through rate has a lot to do with your message. You should be moving the ball forward somehow. Be sure to include hyperlinked images and propose a clear call-to-action. Emails with a single call-to-action increases clicks 371% and sales 1,617%. Having an actual button for viewers to click on has proven to be effective and generate significant results.
Another metric Ashley mentioned you should keep an eye on is your unsubscribe rate. Although it typically is not as important as your open or click through rate, your unsubscribe rate needs to be watched carefully, to see if an email is performing well or poorly.
Tune in this Friday at 11:00 AM/MDT for another edition of Friday Live! Subscribe here to get the live show updates and rollup newsletter each week. Follow us on Facebook, Instagram and Twitter at @Intelivideo and look for the hashtags #FridayLive and #IVLive for questions/comments from the show.
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