As mentioned by charliepark I think a reminder e-mail and a very forgiving refund policy seems to be the best way to do things from a customer relations standpoint.
On a business side of things do you have data on what the average retention rate of a customer is? If your average retention rate for monthly customers is >1 year maybe it's not worth it to even have the yearly subscription from a revenue standpoint. That being said if the yearly subscription retention rate is higher you should definitely keep that option available.
Comments
As mentioned by charliepark I think a reminder e-mail and a very forgiving refund policy seems to be the best way to do things from a customer relations standpoint.
On a business side of things do you have data on what the average retention rate of a customer is? If your average retention rate for monthly customers is >1 year maybe it's not worth it to even have the yearly subscription from a revenue standpoint. That being said if the yearly subscription retention rate is higher you should definitely keep that option available.