Post on 24-Jan-2017
transcript
Four Keys to Unlocking Recurring Revenue
In this ebook, we’ll cover why…
Billing is part of your customer experience
Your billing model is about to be disrupted
You need a flexible solution to handle complex billing scenarios
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Growing recurring revenue depends on delivering continuous value over the course of many
customer interactions and subscription events.
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In other words…
… with subscriptions, the transaction is merely the start of your relationship with customers. Not the end.
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Here are the three things you need to know in order to build long-term customer relationships.
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Billing is part of your customer experience
First thing to know:
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When you demand that your customers pay $10, $50 or $100 every month or every year…
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…you’d better ensure that every interaction they have with your business is a positive one.
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There are dozens – if not hundreds – of touchpoints where potential and existing
customers interact with your brand.
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Some of the crucial ones specifically related to billing include:
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Signups
Payments
“My Account” sections
Renewals
Adding/removing licenses
Upgrade/downgrades plans
Cancelations (gasp!)
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Delivering a great customer experience means caring about the details of each
of those interactions.
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Make sure every click from trial to renewal results in a customer smile.
(Or at least keep them from an exasperated sigh.)
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Once you focus on creating positive customer experiences, the next step is rethinking your
pricing and billing model.
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Your billing model is about to be disrupted
Second thing to know:
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It’s important to remember that your business is always at the risk of being disrupted — and
disruption comes from many places.
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Some of your competitors will offer better service…
Which means you might need to rethink how to deliver world-class customer support.
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Some will embrace newer technology…
Which means you’ll need to monitor product usage data and survey your customers to determine which new innovations you can offer.
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And some will devise more attractive business models for their customers…
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…and if the issue is that your customers prefer your competitors' pricing model, you have to get creative about how you earn your recurring revenue.
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Your challenge is to figure out which pricing and billing models work best for your
customers and for your business.
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To meet this challenge, you’ll need a flexible subscription platfom that can support the pricing
and billing models that your customers prefer.
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You need a flexible solution to handle complex billing scenarios.
Third thing to know:
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To effectively disrupt your pricing/billing models, you need to know what your options are.
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The subscription business model, at its most basic, involves relatively simple monthly
or annual renewals.
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But take a look around the market, and you will see that the subscription world is
actually much more complicated.
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For example, other types of subscription models include:
• On-demand
• Usage-based
• Base + overage
• Tiered
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The challenge to your subscription business is finding a solution flexible enough to handle
complex billing models.
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Whichever subscription platform you choose will need to be robust and flexible enough to support:
• Customer signups
• Renewals
• Next billing dates
• Next billing amounts
• Active accounts
• Canceled accounts
• Payment information
• Customer self-service
• And many other things besides!
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Finally, you need to integrate quickly –
— not spend months (or years!) developing the technology in-house or waiting around for multiple solution providers to address your concerns.
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Meet cleverbridge.
We provide flexible, comprehensive, end-to-end subscription billing solutions and specializes
helping businesses like yours go global – fast.
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cleverbridge moves fast and integrates flawlessly, and we enable your business to build long-term customer relationships by delivering an exceptional customer experience throughout the billing process.
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Because succeeding with subscriptions isn’t just about providing continuous value with your
product or service…
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… you also need to think about every pointat which your customers interact with you
and focus on providing them with an exceptional experience.
cleverbridge provides global subscription billing solutions that help companies build long-term customer relationships and grow recurring revenue streams. With our flexible, cloud-based billing and monetization platform, cleverbridge simplifies subscription business models and delivers an optimized online customer experience. Our clients leverage our expertise, technology and services to more effectively monetize their products and services, rapidly expand their global subscriber base and maximize customer lifetime value. Headquartered in Cologne, Germany, we have offices in Chicago, San Francisco and Tokyo.
To learn more about cleverbridge, please contact inquiry@cleverbridge.com or visit www.cleverbridge.com.