Consumer trends that drive subscription revenue
As the subscription industry continues to bloom, understanding what it takes to accelerate subscriber and revenue growth sustainably is key to differentiating from competitors.
At Recurly, we’re committed to sharing the latest findings on consumer demands, economic trends, and their impact on the industry.
Oscar Wall, Recurly EMEA General Manager, and Jonas Åström, Recuro Founder and CEO, sat down to discuss the research insights from the State of Subscriptions: What consumers want report. They share surprising statistics on consumer behavior and expectations, real-life success stories, and proven best practices to enhance the subscriber experience.
Watch the conversation on-demand to get the latest insights on the three pillars that deepen subscriber relationships: personalisation, acquisition, and retention.
Subscription trends: What consumers really want
The experience is the heart of the subscriber relationship. We asked consumers about what makes a great subscriber experience, and over 6,000 subscribers across six different countries responded.
The era of personalisation: 61% are more likely to subscribe if they can choose their payment date. As the subscription space, personalisation around subscription offers has become a must. Tailored experiences create an ideal journey that keeps subscribers engaged and satisfied.
Subscription sign-up is a first date: 75% are more likely to subscribe if a free trial is offered. First impressions matter, and how easy it is to sign up for a subscription–seamless payment options, flexible plans, and captivating free trials. It can often determine how consumers perceive you and how long they become subscribers.
Valued subscribers, valued benefits: 73% are more likely to subscribe if a lower price was offered over a longer period. As a subscription-based company, it's your job to make sure that consumers are–and feel–valued. Loyalty rewards and intentional communication can maximize subscriber lifetime value.
Get more insights to drive subscription revenue growth
As mentioned before, competition intensifies and subscription businesses find themselves struggling with the challenges of staying ahead.
While Oscar and Jonas have shared their expertise and best practices to create unforgettable subscriber experiences, you can find more actionable insights to thrive amid tough competition in the State of Subscriptions: What consumers want report.
Download the report to gain the insights you need to unlock growth, delight consumers, and thrive in the competitive subscription landscape:
Understand how subscriber expectations have grown more sophisticated and how you can meet their evolving needs.
Find out how successful businesses tackle tough competition to position as market leaders.
Explore how the rapid pace of change impacts your business and offers strategies to adapt, innovate, and embrace new opportunities in this ever-evolving industry.