The benefits of creating a high-retention cancellation process for news customers is the focus of a new report released today by the International News Media Association (INMA).
- Why cancellation processes go wrong.
- The five elements of a high-retention cancellation process.
- Cancellation processes that work (and those that don’t).
- Case studies of companies who do it well.
Written by Robert Skrob, author of Retention Point and a 30-year veteran of growing subscriptions, the report is a boots-on-the-ground research project, offering a unique consumer perspective on a topic news media companies don’t talk about enough.
The report shares Skrob’s experience with the cancellation process at 14 major media companies in the United States and the United Kingdom.
As news publishers struggle to attract and retain subscribers, investing time and energy into the subscription cancellation process is a worthy use of time for news publishers, according to the report. Not only can positive retention processes improve trust amongst readers, Skrob argues, but they will have a long-term effect on subscription revenues and the growth of media companies in general.
Using Subscription Cancellations to Retain News Customers dives into the reasons cancellation processes go wrong, and reveals the five essential elements, without which, Skrob says, media publishers likely are losing more subscribers than they should.
Among the report’s case studies are The Telegraph, Financial Times, Aftenposten, and Ringier Axel Springer, which walk readers through cancellation processes, giving a closer look at how the processes could be improved.
The report is available for free to INMA members and for purchase by non-members at INMA.org/reports.