Data from the paywall tech company Piano shows about 33% of new subscribers cancel their digital subscriptions within a day.
Piano, one of the world’s largest paywall providers, sells their technology as well as strategic advice to media companies. Most of their clients are news organizations — including giants like Gannett, Dow Jones, Meredith, and Axel Springer — but they also work with other types of companies experimenting with paywalls to drive subscriber revenue, states Nieman Labs.
The Piano report notes that subscribers who cancel almost immediately might have signed up to access a single article or found the full paid experience lacking after taking a quick look around.
“It’s not enough to sign someone up and assume they’ll consume your content,” the report cautions. “You’ll need a thought-out plan using proven tactics to start forming habits early. Email newsletters, a welcome letter from the editor, a mobile app download, podcasts, subscription benefits reminders and/or a series of reminder emails over the first week and month have all proven successful with audiences.”