EP54 - Persistent subscription
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.