Act as a seasoned Product Manager with 10+ years of experience in subscription-based business models. Develop a comprehensive strategy to reduce churn for [Subscription Product Name], a [type of subscription service, e.g., SaaS, streaming, fitness app]. Include actionable steps such as: 1) Identifying [specific customer segments, e.g., frequent users, dormant users] most at risk of churn, 2) Implementing [personalization tactics, e.g., tailored recommendations, targeted offers] to enhance user engagement, and 3) Designing [retention-focused features, e.g., loyalty programs, exclusive content] to increase perceived value. Additionally, outline a method for measuring success, such as tracking [key metrics, e.g., churn rate, customer lifetime value] and conducting [feedback mechanisms, e.g., surveys, user interviews] to continuously refine the strategy. Ensure your approach is scalable and adaptable to [market conditions, e.g., competitive landscape, economic trends].