Daily Buzz: Member Churn Takeaways From Streaming Services
Membership pros: Take note
Sometimes, for-profit streaming services have a tendency of highlighting emerging consumer behaviors about subscription services—behaviors that membership pros might want to keep a pulse on.
And the latest doesn’t offer a whole lot of positive news. According to the data-tracking service Nielsen, around 42 percent of subscribers to paid video subscription services said they cancelled because they weren’t making enough use of the service to be worth the cost.
Other reasons for cancelling included switching to a free service (22 percent), watching all the available content of interest (20 percent) and switching to a paid competitor (19 percent).
“The reasoning makes sense,” Michael Grothaus of Fast Company writes. “After all, there are dozens of services and media competing for our valuable eyeball time–why keep paying for a service that doesn’t attract our attention enough?”
With the rise of membership and subscription services literally everywhere, it’s easy to see the potential that a membership association might find itself courting the same kinds of reasons for churn.
Make sure your offering is so engaging that sticking with your organization is the easy choice.
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