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EP54 - Persistent subscription

· 2 min read
david len
Serial entrepreneur. Always maximizing shareholder value.

I am a humble HINW sigma chad and a founder of a $10B SaaS company.

In a club I tried approaching this beautiful woman. She said no.

I approached her even closer. Explaining why she truly should take my offer.

She ran. I chased.

Until she locked herself away in a bathroom. I was this close to get in trouble with the law.

She was 1 in 10 who got away. But I will be back.

I approach my subscription business with the same philosophy.

When a customer tries to cancel, they encounter a pop-up.

"Your subscription will renew at $399 annually unless you cancel."

*cancel

"How about $280? Will you pay $280?"

He pauses, thinks. Sometimes, they still refuses the offer.

Refuse? Me? That will be an expensive decision.

First, they must call my customer retention line. He will be in queue #4269.

Many will hang up, defeated. Their subscription? Still active.

Those who persist will reach a representative from India with trouble understanding English.

Not to cancel, but to "understand their needs."

Through the language barrier, they will have a 45-minute discussion on the value they are "missing."

If they insist on canceling, a "cooling-off period" is initiated.

Their cancellation processed next billing cycle. With a follow-up email, of course.

Lesson? Persistency is the key to success.

Here's how I have a churn rate of 0% in SaaS and rizzing 9/10 women I want.

Follow me for more rizz advice.


Context

Very rizzy indeed, Adobe.