Matthew Kassel
speaker
80 appearances
2 recordings
1 series
first heard Dec 2019
last heard Feb 2020
Matthew Kassel’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Companies Giving Consumers an Exit From Subscription Fees · 26 Feb 2020
podcast
Yes, that's part of a broader strategy that's been gaining traction among subscription companies.
It's better known as lifetime customer value, and it's part of an effort on subscription companies to retain customers over a long period of time.
and build a relationship with them.
And a kind of interesting aspect of this new trend among subscription companies making it easier to cancel is that not only does it make customers feel more comfortable subscribing because they feel that they won't be locked in and can cancel at any time, it also encourages customers to feel as if they can come back easily because if they cancel and it was an easy process, then they won't be concerned if they come back if they need the service again.
Yeah, and the standard bearer, according to one expert I spoke to in this regard, is really Netflix, which is very transparent with their cancellation policy.
Whenever they do a price increase, they allow the customer to cancel.
They put a button there and say, you can cancel if you want.
They have a subscription service, and they also sell in brick and mortar stores.
And they have a core shaving plan.
But they found that customers wanted a kind of more personalized service.
So they launched what is called a core membership program that costs $15 a year that gives customers discounts and stuff like free engravings.
limited edition products.
So it's part of an effort among subscription companies to make customers feel as if they're part of a club or members in a club.
And that fits more broadly into the looser cancellation policies that are being put into effect now that allow customers to feel a little more at ease when they sign up and feel as if they're taking part in a kind of two way process.
In recent years, and one of the reasons that some companies are switching up more recently is...
The Better Business Bureau and other regulatory organizations are sort of cracking down and some companies have been shamed on social media.
In 2008, California began requiring that companies that let consumers subscribe online also let them opt out online.
And this could be the beginning of a broader trend in which companies are more legally required to make quitting simple, I guess.
You are going to be taxed, and you should hire a smart accountant who knows what you can and cannot deduct.
You can't deduct things like big renovations.
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