You want to convert trial users to annual subscriptions, as the retention rate for annual subs is higher than monthly ones
The most successful creators on our platform have 25% or more of their subscriber base on the annual subscription
Playbook’s $1 trial is a great way to get users to commit to your app for one month. The trick is getting those subscribers to upgrade to an annual subscription after the first month.
After the respective trial period is complete the consumer either:
Cancels their subscription OR
Is automatically converted to a monthly payment (unless they upgrade to annual).
Annual subscriptions — versus monthly ones — mean more money in your pocket. Here’s why:
Monthly subscribers typically stick around for an average of four to six months before cancelling their subscription.
However, we’ve found that the retention rate for annual subscribers is about 80%.
Plus, the creators who make the most money on our platform are those who have 25% to 35% of their subscriber base on the annual subscription.
To get your existing subscribers to upgrade to an annual subscription, remember to let them know that that their upgrade to annual:
Will save them 44% and
The $99.99 yearly cost breaks down to $8.33/month or $0.27/day.
We recommend marketing via the following channels and platforms.
Facebook Group: Share the upgrade with your subscribers in your Facebook group at least once a week. Create a video post, share this video, let your subscribers know that they’ll save 44% that way in your caption!
Email Marketing: Include the annual subscription upgrade offering in any regular email marketing campaigns you send out to active subscribers.
Here are a few great examples of promoting the annual upgrade from creator Ida Jemina, who pushes the upgrade in her email marketing campaigns:
As a reminder, you can track total, paying, and trial subscribers in the Playbook creator app:
On the paying subscribers screen, you can see monthly vs. annual to make sure your annual numbers increase.
On the trial screen, you can see a breakdown of new converted subs, which represents the number of trial users who became paying subscribers after their trial ended during a particular time period.
For a refresher on all of these analytics, click here.