I appreciate several things about this analysis. I like the visual components. I like the point-by-point bulleted approach.
And this adds useful subtlety to the consideration of churn, which you helpfully point out is more likely to happen early on. I particularly appreciated the specific numbers about the % chance of cancelling in particular months. That's hugely helpful as a reference point, even if it varies across contexts.
Once people have subscribed to something and settled in after a couple of months, presumably a status quo bias sets in. They've already justified the cost to themselves and baked it into their mental accounting. Plus they're too busy with life to focus on whether or not to cancel this particular subscription.
I also appreciate that this post doesn't try to stuff everything into one post, which would be overwhelming. So I'm looking forward to the next part!
I appreciate several things about this analysis. I like the visual components. I like the point-by-point bulleted approach.
And this adds useful subtlety to the consideration of churn, which you helpfully point out is more likely to happen early on. I particularly appreciated the specific numbers about the % chance of cancelling in particular months. That's hugely helpful as a reference point, even if it varies across contexts.
Once people have subscribed to something and settled in after a couple of months, presumably a status quo bias sets in. They've already justified the cost to themselves and baked it into their mental accounting. Plus they're too busy with life to focus on whether or not to cancel this particular subscription.
I also appreciate that this post doesn't try to stuff everything into one post, which would be overwhelming. So I'm looking forward to the next part!
Thanks Reid!