Komal Ranka
Campaign Strategist
Crafting data-driven retention & engagement strategies to transform customers into loyal brand advocates.
iWantTFC, the Philippines’ reigning SVOD (subscription video-on-demand) champion, knows the importance of keeping viewers happy. But keeping them happy also means keeping the business healthy, and a steady stream of recurring revenue is key. While they had a loyal fanbase on monthly plans, iWantTFC saw an opportunity to up the ante on customer lifetime value (CLTV) by converting more users to annual subscriptions.
The Monthly Grind vs. Yearly Savings
Monthly subscriptions provided a reliable income flow, but annual plans offered viewers significant savings compared to month-to-month billing. The challenge? Conversion rates for annual subscriptions were stuck in low gear.
Understanding What Makes Users Tick
We decided to dive into user data and subscription patterns to get a clearer picture. Here’s what was discovered:
- Budget Buddies: Viewers were cost-conscious and naturally gravitated towards the lower upfront cost of monthly plans.
- Value in the Dark: The benefits of annual subscriptions, like major cost savings and uninterrupted viewing, weren’t entirely clear to users.
- Newbie Navigation: A large portion of the user base were new subscribers who hadn’t yet explored the full value iWantTFC offered.
Tailored Upsells Throughout the Journey
With these insights in hand, We crafted strategic customer lifecycle management (CLM) campaign to strategically nudge users towards annual subscriptions:
- Welcome Wagon for Newcomers: New subscribers were greeted with a targeted email series. These emails introduced them to iWantTFC’s vast content library and original shows. Later emails subtly introduced the annual plan, highlighting the cost savings and smooth viewing experience. This warm welcome resulted in a 10% increase in users considering the annual plan during their first month!
- Engaged Viewers, Happy Upsells: For viewers who were super engaged (think frequent watch time and diverse content choices), iWantTFC triggered personalized pop-up banners or email offers showcasing the perks of the annual plan. These offers emphasized features that aligned with their viewing habits, like exclusive discounts or early access to content. This tactic converted a whopping 15% of highly engaged users to annual plans!
- Winning Back the Lost Sheep: We didn’t forget about lapsed subscribers. They were re-engaged with email campaigns highlighting exciting new releases, upcoming seasons of their favorite shows, etc. This strategy brought back 5% of churned subscribers, and even better, they considered the annual plan upon resubscribing bringing in recurring income.
The Sweet Sound of Success
The CLM campaign, with its focus on targeted upsells throughout the customer journey, proved to be a game-changer for iWantTFC’s annual subscription goals:
- Annual Subscription Boom: A 20% growth in annual subscription plans sold within just six months!
- CLTV Climb: Customer lifetime value jumped by 12% thanks to recurring annual revenue.
- Happy Viewers, Happy Business: Personalized communication fostered a stronger brand perception and user satisfaction.
iWantTFC’s success story is a testament to the power of well-designed CLM campaigns. By understanding user behavior at different stages of the subscription journey and delivering targeted value propositions, iWantTFC was able to convert more viewers to annual plans, leading to sustainable business growth and a win-win situation for both viewers and the platform.