4/1: good habits onboard, infinity goes beyond, and unicorn magic

Updated On: June 13, 2020

Spring into April with us. Abby here, and you know what day it is: National Sourdough Bread Day. We might be as far as can be from San Francisco Bay over here in Boston, but that doesn’t mean we can’t appreciate the famous tangy, fluffy goodness. So let's get that bread and get to subscription.


The Rundown
In resources...

Omnichannel Onboarding to Combat Customer Fade 
It’s easy to set out to pick up good habits, but it’s hard to stick with them. Using new software is the same way, which is why Appcues suggests adopting an omnichannel onboarding process to combat the slow fade.

Omni-what now? An omnichannel experience brings consistent messaging through each marketing channel so all emails, web copy, and content have the same voice and directive. This might sound a lot like multi-channel marketing, but the difference is that, in multi-channel, each channel addresses a different part of your strategy. Maybe your Instagram content is splashy to attract a younger audience, but your native blog content is more straight-laced, for example. With omnichannel, all marketing materials work toward a common goal. So how does this help with onboarding a customer and ensuring continued use of your product? When users are consistently reminded to engage with your product across multiple platforms, they're more likely to consistently use it, and alas, a healthy habit is born. 

Hate to See You Go, But Love to Learn From Your Offboarding 
On the flip side, Intercom is helping us learn from the customers who part ways with our platform.  By mastering user offboarding, you're on the path to learning from the churn.

Goodbyes are tough; why make them harder? You've probably had to cancel a subscription before, potentially needing to jump through all kinds of hoops to do so. Of course you don't want to have to think about letting go of those leads you worked so hard to cultivate, but frustrated customers do not = sustainability. While we're all about reducing churn, it's critical to remember some amount is inevitable, and your next best step is to learn from the users who leave. By culminating user feedback as they're on their way out, you can address niche issues and make your product stronger (in turn worrying less about offboarding in the future).


In headlines...

The Enemy of My Enemy Is My Friend: Adobe x Microsoft 
Adobe and Microsoft team up to bolster each other’s sales and marketing software capabilities, and together set their sights on main rival Salesforce.

Competition is the mother of invention. This comes after news that Adobe is exploring the customer management space with the Adobe Experience platform, leveraging their own tools plus AI to track customer behavior and provide actionable insights. If an Adobe customer is selling medical equipment to a hospital, for example, the new partnership would make it easier to target LinkedIn ads to those implementing purchasing (doctors, technicians, finance managers). And if the marketing campaign remains effective, sales people can then turn to Microsoft’s sales software to facilitate the deal. Personally, we’re ambivalent about them taking down the almighty Salesforce, but what's a world without healthy competition? 

In SaaS Land, Unicorns Are Real
But profitability? More often than not, it seems to be a myth (although Wall Street seems not to care). TechCrunch explains why investors are still starry-eyed over the magic, despite balance sheets in the red.

When will we see the consequences of this? TechCrunch's take is inspired by Lyft's highly massive IPO despite posting $911 million in losses in 2018. So why are investors jumping at the chance to buy into a business that has yet to prove its profitability? Because the conversation today is all about market opportunity. Let's bring it on back to the 90s, when a bright eyed and bushy tailed Steve Jobs or Jeff Bezos was in search of investment. How many people's lives would have been changed if they took a chance, looked up from their portfolios, and said yes? If we were to oversimplify it, it's FOMO that's driving Wall Street to invest in possibility over profitability. It will probably take about as long to learn if history will repeat itself, or what we're seeing is a bubble about to burst.  

New Movie Ticket Subscription 'Infinity' Goes Beyond 
In the fraught world of movie ticket subscriptions, Infinity is set to take the stage – and hopes to avoid the pitfalls that have forced other companies to bow out.

So, it's MoviePass all over again? You likely know our thoughts on the MoviePass saga, but for a quick recap: service launches with too-good-to-be-true prices that are in fact too good to be true, flip-flops between multiple pricing structures, puts restrictions on the service (making it nearly impossible to use), and ultimately leaves us scratching our heads. But the idea behind a movie subscription is not inherently bad. Online streaming services are booming, so why not bring the viewing experience into the wild? Infinity seeks to differentiate itself by offering packages for individuals, couples, and families, so we'll be eating popcorn from afar, watching how this one plays out. Infinity hasn't yet announced which theaters have signed up as service partners (and doesn't officially launch for several months) but their team's expected to release further intel at CinemaCon this month.

Product of the Day

In extra time, we’re matching you up with the product launches that can help grow your business, today bringing you a new feature from Intercom that promises to supercharge your account-based marketing strategy. Now, you can catch in real time when a high-powered potential client visits your site – and start building a relationship on the spot. By connecting these prospective customers with your sales team, you can create the kind of human touch that makes all the difference (and really helps convert leads). Businesses who use Intercom’s ABM are already booking more demos, establishing an increase in leads, and shortening time spent in the sales cycle — and if that doesn’t scream high ROI, I don’t know what does.

Tags: SaaS, recurring revenue, Boston, subscription, subscription60, Recur Network

Join Over 50k Subscription Operators Getting These Insights Weekly