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Nearly a third of new subscribers to news publications cancel in the first 24hrs

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Re: Nearly a third of new subscribers to news publications cancel in the first 24hrs

#111

Post by aliasxneo »

jwie wrote: post #6

This is just lack of auto renew protections. Consumers are wise to this, and they’re not really canceling. I bet if you could turn off auto-renew they wouldn’t cancel. But, to nobody’s surprise, the MBAs don’t like options where the user doesn’t give away money by accident. Auto renew is one of those things that should be illegal to default users into.

I use Privacy [1] for this. Create a new card, set max amount to $1, and move on. I always get a chuckle when I get those "Oops, looks like your payment failed" emails. It also serves as a great reminder, because in some cases I actually do renew the service (by modifying the card) if it was providing value.

[1]: https://privacy.com

Re: Nearly a third of new subscribers to news publications cancel in the first 24hrs

#112

Post by yesplorer »

CoastalCoder wrote: post #56
buscoquadnary wrote: post #8

Earlier quoted context omitted.

Had that happen with the WSJ, will never subscribe to them again. Plus they had limited hours in one time zone.

I wonder if we can (legally) fight using the same methods that the companies use. E.g., suppose their phone system can handle 1000 people in queue + 20 live conversations. Companies keep the callers waiting, with no regard to the cost to the caller, so the company can minimize their customer-service costs. So how about we even things up? Create company-specific automated services that call in using customer-oriented…

why will they wait?

Re: Nearly a third of new subscribers to news publications cancel in the first 24hrs

#113

Post by nerdponx »

ec109685 wrote: post #73

This is unethical: “It makes sense that sleepers churn: They aren’t getting much value from their subscription. Yet they don’t churn right away. In any given month, 90% of sleepers will simply continue to stay inactive. It’s only when they wake up again and come back that their cancellation rates soar, generally accounting for about 30% of active churn. This makes re-engaging sleepers difficult. How do you bring them…

> These are all tactics that hurt the overall subscription industry by making people not trust companies. The ethical thing to do is ensure each subscriber is subscribing by choice.

Tragedy of the commons.

See also: taxis. Uber succeeded in part because taxi cartels had become so incredibly unlikable.

Re: Nearly a third of new subscribers to news publications cancel in the first 24hrs

#114

Post by arrozconcosas »

retcon wrote: post #103
techdragon wrote: post #78

Earlier quoted context omitted.

It’s not just a stereotype it’s often their explicit job description! They get hired or promoted with a performance metric for juicing those metrics either as an expectation of the job or as a requirement for performance incentives and bonus pay… This all of course tends to be set up by fellow MBAs higher up the corporate food chain and since everyone keeps personally profiting no one sees any reason to stop, all the…

I think that corporate sponsorship of education needs of to be outlawed. We've had at least three generations of exponential feedback of antisocial principles dominating business education. Taking much longer to go hockey stick. MBAs can't keep resting on the laurels of bringing the first GI Bill gen from draft to serving technical competence to industrial relevance. For a start the foundation for the qualification i…

By the way, at some companies where you are sponsored to go there is a 90%+ acceptance rate of people into business school. It is effectively a 'backdoor' into MBA programs. They like them because the same companies come on campus to recruit and hire people back into their company. It's a nice circle to be inside, but locks others out.

Re: Nearly a third of new subscribers to news publications cancel in the first 24hrs

#116

Post by lifeisstillgood »

mywacaday wrote: post #62
lifeisstillgood wrote: post #26

Earlier quoted context omitted.

I wish I could cancel a credit card recurring payment as easily as a standing order or direct debit. But guess what - it's in the interests of the business and the credit card company for me to keep paying

setup a virtual temp card number with revolut/paypal etc, change the card on the account then cancel the card.

>>> I wish I could ... as easily as ...

;-)

Thank you - that is actually a "solution" i will looking to it

Re: Nearly a third of new subscribers to news publications cancel in the first 24hrs

#117

Post by llbeansandrice »

m348e912 wrote: post #95
steve_taylor wrote: post #74

Earlier quoted context omitted.

Auto-renew is fine, as long as the product's billing system has the necessary protections, such as - low-friction cancellation - email users a few days before monthly renewals and twice before annual renewals - ability to remove the payment method altogether - don't require a credit card for a free trial If cancellation takes effect immediately, the service should provide an immediate pro rata refund.

Credit card companies could really make a difference with helping manage subscription services. For example, they could allow you to decline future charges from certain merchants essentially cancelling your subscription. You wouldn't even have to cancel with the provider, you can cancel with the cc company. Some credit card companies do the opposite! Apple Card will automatically provide merchants with your new card…

I do see the flip-side where that's a feature.

You get a new card and you have to make sure you migrate over all of your subscriptions and bill-pay to the new cc. Would be nice for Apple (or someone) to build more features around that so it's easy to see recurring charges and bills automatically.

Re: Nearly a third of new subscribers to news publications cancel in the first 24hrs

#118

Post by njharman »

40% are "sleepers". Meaning nearly half of their subscription revenue is from people who forgot they had it, don't use it, and will keep getting auto-renewed until something reminds them they're paying for this thing they don't want.

When your product is so worthless and uncompelling on nearly half customers don't use it and your business model relies on them forgetting they're paying for it, then your industry is DONE.

Mainstream/Legacy newstainment is absolute garbage. Not worth your time if it is free.

Re: Nearly a third of new subscribers to news publications cancel in the first 24hrs

#119

Post by vitaflo »

gherkinnn wrote: post #79
losteric wrote: post #55

Earlier quoted context omitted.

> Why do MBAs keep pushing this? Are they TRYING to exchange short term retention for long term viability? Isn't that the stereotype? Join to juice some metric, jump ship while everything looks green, leave the mess to someone else

Seagulls. Swarm a pretty beach, shit all over the place and fly off again. Of course, this doesn’t exclusively apply to MBAs. I’ve seen plenty of consultants and developers do the same.

Swoop and poop.

Re: Nearly a third of new subscribers to news publications cancel in the first 24hrs

#120

Post by cmsonger »

jwie wrote: post #6

This is just lack of auto renew protections. Consumers are wise to this, and they’re not really canceling. I bet if you could turn off auto-renew they wouldn’t cancel. But, to nobody’s surprise, the MBAs don’t like options where the user doesn’t give away money by accident. Auto renew is one of those things that should be illegal to default users into.

Yep. This is exactly me:

> This is just lack of auto renew protections. Consumers are wise to this, and they’re not really canceling. I bet if you could turn off auto-renew they wouldn’t cancel.

In my mind: "If they are going to both make it hard to cancel, and charge me without prompting, then I am going to figure out how to cancel exactly right now and when it stops working, if I notice, then I'll go back and renew."

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