Many subscription apps are able to acquire users, however they struggle to retain them and monetize from them. Karan, from LTV Labs shares 3 key observations that can help develop an effective reward program to increase subscriber engagement by 300%. The 3 key observations that Karan acquired by working with over 20 subscription apps are as follows:
– Adding value for subscribed users by creating a reward mechanism
– Work on customer retention as the marketplace is getting populated everyday
– Using CRM, a powerful tool to engage and retain users Karan also shared results from case studies of Blinkist and Black Lane.