Courrier keeps you posted (Round 6)
Summary
Churn is a major concern when trying to develop digital subscriptions. Every week, print subscribers receive their magazine, reminding them what they pay for. Digital subscriber don’t. This lack of perceived value is the key factor in churn.
Our project is to automatically identify various cohorts, according to their editorial preferences, engagement and churn prediction algorithm. We will then push automated and adapted editorial content and marketing messages through the most relevant channel (emails, push notifications, Facebook, Messenger, Whatsapp…). This will start from the very beginning of the subscription, with a "Netflix like" welcome pack onsite, taking new subscribers through a journey into our contents and services.
The solution
With 37% churn among monthly subscribers (and only 30% of renewal for year subscriptions), loyalty is a major concern to us to grow our 28,000 subscribers portfolio. According to an internal survey, nearly half of our digital subscribers visit our website no more than two times a week, reading less than three articles. We believe this creates a lack of perceived value, compared to the print edition they receive each week. A feeling reinforced by the fact that 65% of subscribers using 4 services (website, apps, web-app, and newsletters) say they will renew their subscription. whereas this percentage drops to 41% with subscribers using two services. Our project is to engage readers, predominantly as engaged readers don't churn.