Cultivating LTV With a Subscription Model With Michael Siegel
Michael Siegel is the Co-founder and Co-CEO of Decocrated, a seasonal and holiday home decor subscription box. As a serial seven-and eight-figure entrepreneur, he is also the Co-founder and Co-CEO of 1Thrive and Stratton Home Decor. With over 25 years of experience in the home decor industry, Michael has built high-performing sales and product development teams that fuel growth.
In this episode…
Customer lifetime value (LTV) is top of mind for many brands in the digital marketing space, and subscriptions are the leading choice for cultivating loyalty and retention. Yet brands with subscription-based business models require alternative methods of ensuring long-term satisfaction. How can you integrate customer insights and feedback into every aspect of your business?
Having transitioned from brick-and-mortar retail to e-commerce DTC, multipreneur Michael Siegel understands how to curate feedback to develop content and a community of loyal customers. He recommends cultivating trust by establishing an online community and offering exclusive deals. Then you can gather reviews using customized surveys with detailed questions. When analyzing the responses, many brands try to accommodate every customer, but Michael advises remaining consistent with your business model and mission, especially if you’ve already built a loyal consumer base. Once you’ve gathered feedback, develop organic content that aligns with consumer needs. For instance, you can create TikTok videos instructing customers on using your products.
Join William Harris in this Up Arrow Podcast episode as he sits down with Michael Siegel, the Co-founder and Co-CEO of Decocrated, to talk about fostering customer lifetime value. Michael shares the value of mentorship in the DTC landscape, how sports influenced his entrepreneurial journey, and how he scaled Decocrated through customer insights.