Building a retention strategy and North Star strategy for a leading cultural organisation Building a retention strategy and North Star strategy for a leading cultural organisation

A leading arts provider launched a streaming platform in 2020 that performed very well during the pandemic, however, post-pandemic, they began to observe a slowdown in customer growth. The client asked FT Strategies to support them in reducing subscriber churn as well with co-creating a roadmap towards a sustainable subscription model which also included an investment case to support the next phase of their growth.

FT Strategies collaborated with the client to build a tailored programme relevant to their needs:

• Interviews with internal stakeholders to understand their current approach and objectives
• Retention focused workshops to diagnose the current issues and discuss subscription best practice
• Co-developing a North Star goal, to align the organisation to one common goal and create the governance structure to achieve this

• Delivered a series of retention-focused subscriptions masterclass sessions to the client’s key stakeholders with speakers from FT Strategies and FT subject matter experts. The topics were as follows:
  • Developing an understanding of the foundations of a successful subscription model
  • Evaluating current engagement performance and providing recommendations on areas of opportunity
  • Reviewing current retention performance, outlining best practice and tactics to reduce involuntary churn
• Practical workshops helping define a 12-month priorities roadmap, North Star goal and outcomes, in addition to putting it in practice through a strong governance structure. Each session facilitated strategic discussions which resulted in key recommendations, combining quick wins with strategic longer term initiatives