#10DaysofTips: Subscription Companies - Consider Switching to an Annual Plan

At a time when many consumers are trying to figure out how to cut their budgets, subscription companies are trying to figure out how to retain and engage their subscribers, and one way to do that is by creating incentives for consumers to stick with you. A way to achieve this is to switch your monthly subscription to an annual subscription. Here’s why and how:

* An annual plan has lower churn than a monthly plan
* Try promotion to upgrade to a longer contract. _Ex. we can give you two months free on your subscription by upgrading to an annual plan_
* Sitewide promotions have also had a huge impact on performance - 3x impact. More complex promos have not worked as well.

Take Masterclass for example. Masterclass has offered a promotion around their annual subscription through a buy one, get one free promotion.



Are you a subscription company testing different promotions? What have you seen? What’s helped you move the needle?