Title - The case for selling services as a subscription Tags - retention
In the publishing industry, the application of reactivating customers is obvious.
Customer signs up for a subscription. The subscription is for a set period. There’s a clear end date. When the end date passes, if there’s no renewal, the customer is inactive.
Therefore, it’s pretty clear that trying to persuade customers to renew the subscription is a worthwhile investment.
What if there’s no subscription?
Most healthcare services are not sold as subscriptions.
They could (and often should) be. And, in some cases, they are. In Dentistry, for example, you can pay for a Denplan subscription.
But my point is: most healthcare services are not sold as subscriptions.
However, a subscription is really just the way that a product or service is packaged. The customer is charged automatically on a set schedule.
Really, any product or service that the customer or patient could benefit from over a period of time could be sold as a subscription.
Equally, it’s not necessary to adopt a subscription model to profit from patient reactivation.
You see, all it really requires is the one thing that publishing and healthcare have in common.
Magazine subscribers like to read the magazine regularly. Similarly, patients who need a healthcare service usually get more benefi when they use the service regularly.
Therefore: even if you don’t think of yourself as a subscription provider, you owe it to yourself and to your patients to recongise that they get more benefit and more advantage when they utilise your services on a regular shcedule; not just once in a blue moon.
With that being the case, there’s equal (or greater) value in your database of inactive patients as there is in the database of inactive subscribers for a publication.
[#abraham2005jvs]: Jay Abraham: Joint Ventures: From Mediocrity to Millions.