RZ Ep. 19: Colin Morrison - Keeping Viewers Hooked, Expert Insights on Streaming Retention

Colin Morrison is my guest for Episode 19 of Retention Zone, the video podcast focused on streaming media monetization.

Now acting as CRO at Ovyo and a Cleeng advisor, he is a veteran of the media and entertainment industry with over 35 years of experience. He began his career in 1986 working on interactive TV and has been at the forefront of major shifts in technology and business models in the industry since then. Morrison has deep expertise in areas like video streaming, digital media delivery, user experience design, and monetization strategies. He offers insightful perspectives on the evolution of streaming and predictions for the future aggregation of content across platforms. Throughout his long career, Morrison has maintained a passion for understanding consumer behavior and needs to create better viewing experiences.

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Keeping Viewers Hooked: Expert Insights on Streaming Retention

With the proliferation of video streaming services, retention has become crucial for platforms to survive amidst intense competition. According to digital media veteran Colin Morrison, superior customer experience is the key.

Drawing from his over 30 years in the industry, Morrison asserts, “If you’re asking people to pay for a service, it has to be usable.” A frictionless, seamless process makes retention viable. If facing tech troubles, convenient customer support prevents frustration that causes viewers to quit.

Aggregation Still a Challenge

Though consumers today are device-savvy, aggregating content across scattered streaming apps remains challenging. Morrison laments, “Having to navigate your way through multiple apps, multiple service delivery platforms, to find what you’re looking for is still a huge challenge.”

He envisions “the ability for streamers, even if you still need to pay to watch a particular piece of content, why should it mean that you have to enter into that subscription app in order to consume?” A unified interface would best serve viewers.

Leveraging Data to Reduce Churn

Given the high costs of acquiring customers versus retaining them, churn prevention is critical. Morrison stresses streamers “need the tools, you need the data to understand the behavior” of subscribers showing signs of dissatisfaction.

Advanced algorithms can detect changes signaling they may quit. Once flagged, customer care teams can then extend personalized incentives to retain them. Insights from user data are thus pivotal for lowering churn.

Optimizing Customer Service

Calling customer service tends to frustrate subscribers. But AI-enabled chatbots can resolve most issues. As Morrison says, “99.9% of a consumer's problem, someone else has already had” so solutions are readily available. This convenient self-service feature enhances user experience.

Overall, Morrison concludes, “If it’s difficult, if it’s challenging, we're both technologists, we've been in this space a long time” so imagine the average consumer’s experience. Ensuring a seamless, Aggregation Still a Challenge

Though consumers today are device-savvy, aggregating content across scattered streaming apps remains challenging. Morrison laments, “Having to navigate your way through multiple apps, multiple service delivery platforms, to find what you’re looking for is still a huge challenge.”

He envisions “the ability for streamers, even if you still need to pay to watch a particular piece of content, why should it mean that you have to enter into that subscription app in order to consume?” A unified interface would best serve viewers.

Leveraging Data to Reduce Churn

Given the high costs of acquiring customers versus retaining them, churn prevention is critical. Morrison stresses streamers “need the tools, you need the data to understand the behavior” of subscribers showing signs of dissatisfaction.

Advanced algorithms can detect changes signaling they may quit. Once flagged, customer care teams can then extend personalized incentives to retain them. Insights from user data are thus pivotal for lowering churn.

Optimizing Customer Service

Calling customer service tends to frustrate subscribers. But AI-enabled chatbots can resolve most issues. As Morrison says, “99.9% of a consumer's problem, someone else has already had” so solutions are readily available. This convenient self-service feature enhances user experience.

Overall, Morrison concludes, “If it’s difficult, if it’s challenging, we're both technologists, we've been in this space a long time” so imagine the average consumer’s experience. Ensuring a seamless, intuitive platform boosts retention. Superior user experience remains integral amidst intensifying streaming competition.

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Retention Zone is presented by Cleeng, the Subscription Retention Management SAAS platform.

Retention Zone is hosted and produced by Carlo De Marchis (A guy with a scarf)