The goal is to improve the annual renewal rate from the targeted promotional offers – presenting a discount for renewing early. Target your promotional offer only to subscribers that are most likely to churn out, without fielding the offer to customers that are likely to renew at full price.
Don’t send offers to your entire audience. Restrict your offer to those customers for whom it’s most likely to make a difference.
Identify likely churn candidates for targeted renewal offers
Engagement Metrics: Identify users that have not logged into your service in the past 60-90 days. For multi-user accounts, score for engagement, and identify your lowest-engagement multi-user accounts. Low engagement is highly correlated to a high likelihood to churn.
Satisfaction Surveys: Customer support tickets can be a strong measurement for predicting positive or negative sentiment. Satisfaction surveys provided as a follow-up to support interactions provide great insight into your services.
Replies per Support Ticket Opened: While support tickets are not a bad sign, a high number of replies per support ticket might show that this particular customer is struggling and could benefit from an extra effort to support them in renewing an annual subscription.