20Growth: The 7 Core Levers to Win at Consumer Subscription: Growth Loops, CAC + LTV Benchmarks, Pricing, Packaging, Notifications, Discounts, Paywalls | The Breakdown with Phil Carter
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Phil Carter is one of the best growth leaders of the last decade helping world-class companies like Faire, Quizlet, and Ibotta accelerate their growth. Today, Phil is a growth advisor and angel investor who helps Seed - Series C consumer subscription businesses define their growth strategy.
In Today's Episode with Phil Carter We Discuss:
The Seven Core Levers to Win at Consumer Subscription:
- How to Optimize Subscription Pricing and Packaging:
Step:
- Single vs multiple subs tiers?
- Monthly, weekly or annually?
- How often should it be revisited?
- Biggest mistakes companies make with pricing and packaging?
- How to deliver immediate value through new user onboarding?
Target Metrics:
- Best tactics for delivering value in the shortest amount of time?
- Biggest mistakes companies make in user onboarding?
- Thoughts on the very long surveys companies like Noom make people fill out pre getting access to the product?
- How to boost paid marketing efficiency by investing in desktop web flows?
Target Metrics:
- Why is now the time to be investing in desktop workflows?
- What are the most effective and specific tactics to do so?
- How to optimize paywall visibility and conversion?
Target Metrics:
- Why is paywall view rate so important?
- What is good vs bad?
- What are the most common places to trigger paywall?
- Thoughts on hard paywall vs consumer value first?
- Specific tactics to refine paywall design to maximize conversion?
- Single biggest mistakes companies make when it comes to paywall conversion?
- How to distinguish and emphasize premium value props?
Target Metrics:
- What are the most effective ways to do this?
- Who does it best? Lessons from them?
- How to leverage motivation tactics (stats, streaks, badges, leaderboards, notifications)?
Target Metrics:
- What is the most effective?
- Do we not have notification overload?
- What used to work but now does not work?
- Who does this best? Why them?
- How to leverage strategic discounts and promotions?
Target Metrics:
- What are the most effective discounting methods used?
- What are the biggest mistakes companies make when using promos or discounts?
- Who does it best? What do they do?
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