Challenge

Anderson Strategy Group focused on building the retailer’s customer base and combating subscriber churn by recommending upgrades to its platform, product, and services.  

Approach

We started by analyzing the online retailer’s point-of-sale data to assess critical customer KPIs, such as retention rates, revenue by product type, and average enrollment durations. This, along with info from past marketing efforts and customer feedback, was used to better understand where opportunities existed to improve the subscription service.

We then conducted extensive primary and secondary research, including 30+ interviews and surveys with over 2500+ responses from current and former customers, partners, and competitors to gain insights into the retailer’s market landscape, subscriber purchasing patterns, and customer segments. New revenue-growth initiatives were then recommended including adding subscription service features, overhauling products, expanding social media marketing, and optimizing prices.

Lastly, we analyzed the effectiveness of the proposed recommendations at impacting top-line growth by evaluating their strategic importance, ease of implementation, and logistical sequencing. We then prioritized the initiatives and developed an implementation roadmap and timeline.

Impact and Results

Several detailed revenue-growth initiatives were identified to attract and retain subscribers. Based on our recommendations, the online retailer has since modified its pricing strategy, expanded product offerings, and added new service features.