Adding Video To Your Cancel Flow Can Increase Save Rate Up To 61%
If you're searching for a quick solution to reduce voluntary/active churn, look no further.
Adding video to your subscription cancel flow can increase your save rate dramatically.
We have to be honest here, when the idea for adding video to cancel flows came up, we were skeptical. The thought that customers who want to cancel a subscription would even watch a video, let alone change their mind about canceling after seeing a video, seemed far-fetched. And oh, were we wrong.
Over the past six months, we have been collecting data on cancel flows that contain video content, and the performance has been astounding.
In the chart below, you'll see an example from one of our DTC subscription customers who increased their cancel flow save rate from 11% to 64% just by adding video. The only change made in November was the addition of video to cancel flow treatments. As you can also see, the save rate wasn't a "flash in the pan" as it has remained high and even increased further thus far in January.
A few keys to having success with video in your cancel flow:
- Video can be simple web cam video. You don't need high production video.
- Keep it informal and not overly scripted.
- Video from founders did perform better, but only about 4% on average. Any person on the team will work!
- Keep it brief. 60 seconds was the best, although the completion rate for videos over 2 minutes was still 24%.
A full case study on cancel flow videos and performance metrics is in the works and we plan to release it in March.
If you're already on RetentionEngine it's easy to add video to your treatments. You can upload any video inside of the builder.
If you'd like to see all of the data and insights we have collected on retention and increasing customer lifetime value, book a personal webinar:
Additional data will be released next week.