The D2C streaming space is maturing with agility. The market is consolidating as OTT penetration touches an all-time high. Prominent players are gathering increased market share. Technology is evolving at a rapid pace. Consumers are demanding premium experiences while being conscious of value for money. Churn is rising.
According to an industry survey by Cleeng x Omdia, “The evolving path to profitability: Optimizing ARPU through Effective Subscriber Management,"
- 67% of broadcasters report monthly churn rates above 15%.
- 80% of broadcasters expect churn levels to increase.
Such times mandate continuous broadcaster innovation to deliver excellence, stand out, and burn the churn. There's no other way to stay relevant and emerge resilient. Keeping costs in check is also critical to retaining profitability. Broadcasters can no longer afford to bleed customer acquisition costs and keep the boat afloat.
- 95% of broadcasters say the importance of cost management and improving efficiency is becoming more critical.
How can broadcasters cater to present needs without hurting the bottom line? We’ve got the answer you need to innovate.
Meet Cleeng at NAB at booth W3749. We're sharing secrets to future-proof your D2C streaming strategies for success.
How can you thrive and boost D2C streaming ROI in 2024?
Emerging resilient and boosting ROI in the D2C streaming business today requires a twin focus:
a) increasing customer lifetime value (LTV)b) decreasing the cost of ownership
Support from a robust, scalable platform is indispensable for implementing strategies that efficiently pursue these objectives. Given how fast the market changes, the platform also needs to meet the needs of changing times. Cleeng’s Subscriber Retention Management (SRM™) suite, comprising Core, Merchant, ChurnIQ, and Hi5, is designed to do just that.
Subscriber Retention Management (SRM™) suite helps you retain subscribers, grow revenue & boost your ROI.
The SRM™ suite is a specialized, comprehensive solution for media and entertainment businesses. It spans solutions covering every touchpoint in the OTT viewer’s journey, from customer identity, payments and billings, entitlements, and apps to analytics and insights. Using its features, you can innovate across different aspects to future-proof your business.
1. Core is a subscriber management system that introduces strength and flexibility at the heart of your SVOD business. Using it, you can extend an intuitive and seamless account creation process to users with exciting offers, including 60 coupons, and run pricing tests across locations. The result—a boost in conversions and revenue!
Core users have:
- Increased customer LTV by 30% through personalized recommendations and offers.
- Boosted LTV by 15% annually, leveraging its subscription upgrade-downgrade features.
2. Merchant is a payment and checkout optimization solution. It helps you access new markets with secure transactions and grow your subscriber base while outsourcing complex aspects like taxes, compliances, and chargebacks.
Merchant users have:
- 92% recurring payment approval rate on average, 6% higher than the industry.
3. ChurnIQ is an intelligent and predictive churn analytics solution. It's built with advanced algorithms that analyze vast amounts of data to predict churn. Its data lake allows you to create a single view of your subscriber, no matter how many tools you use. With that 360-degree overview, you can easily analyze and identify issues. You can also create different segments and trigger suitable campaigns to retain subscribers.
- 43% of broadcasters struggle to identify at-risk customers. (Omdia)
- ChurnIQ predicts churn with up to 95% accuracy.
4. Hi5 is a cloud-based AI-enhanced customer care solution specially designed for media and entertainment companies. Using it, subscribers can interact with you when and how they want, choosing the touchpoint that works for them. It’s designed to help you turn support into a strategic imperative against a traditional burden.
Using Hi5 can:
- Increase customer satisfaction by up to 76% with specialized OTT customer support.
- Cut your customer inquiries in half by boosting your self-serving capabilities by up to 80%.
Examining the SRM™ from a technical viewpoint
The SRM™ stack is a robust, scalable platform that gives you the control and support to innovate with peace of mind. It can handle 3.6 million transactions and support 25 million entitlement checks per hour.
Setting it up is easy and takes as little as three weeks. You can integrate it with 35+ connectors and innovate quickly. Integrations give much flexibility and save time, effort, and resources.
As the platform is transparent, fee-based SaaS, there are no upfront costs, such as setup and migration fees or hidden costs. You pay only for what you use and can scale on demand. You also stay updated with the changing times without extra effort or cost.
The best part is that the SRM™ suite gives you all this and much more while optimizing your TCO.
What about costs?
The platform optimizes the TCO and delivers a favorable return on investment against its fair fee-based pricing. With SaaS-based pricing, significant expenses associated with a platform, including licensing fees, hardware and software costs, implementation and integration expenses, and ongoing support and maintenance fees, are economized. There’s freedom to grow sustainably and improve the organization's financial performance.
Bottom Line: The SRM™ suite equips you with all the state-of-the-art tools you need to pursue growth and innovation. It does this while improving your cost of ownership. Leverage it to innovate, boost your revenues, and future-proof your business!
Want to know more about a platform that even your CTO & CFO will love?
