Every customer is different. This is especially true and important for your subscription-based business. You can’t have a one-size-fits-all approach because every subscriber has unique expectations. Instead, you can offer the flexibility and customization that helps your customers find the solutions they need. When you partner with the right subscription management and billing platform, you have access to the tools and features that can help you do just that. Here are four ways to use your platform to give customers an experience that fits their needs.
Offer Different Pricing Models for the Perfect Match
You shouldn’t stick to a single pricing model for your subscription. Rather, you want to give your customers options so they can choose an option that fits their needs. For example, tiered pricing is a good option for offering a basic subscription with the main features of your product or service at a lower price alongside premium options that include additional benefits for a higher cost. Or you can add a usage-based model, so customers only pay for what they use. There are so many ways you can help your subscribers find the perfect price point and subscription package. All it takes is the right billing platform.
Create a Better Customer Experience with Targeted Features
There are many different features you can integrate into your subscription experience to help create the perfect user experience. For starters, you can offer free trials so new customers can try out your service risk-free. Offer discounts and personalized deals to loyal subscribers to build loyalty and satisfaction. You can even offer a pause function, so customers don’t have to cancel their subscription when they simply want to skip a month or two. All these benefits can help improve the entirety of the customer experience.
If They Cancel, Find Out Why
“Churn,” or the rate at which your business loses subscribers over a given period of time, can be a helpful indicator for your business. When you run a churn calculation that returns suboptimal results, you should find out why. For voluntary churn, when customers cancel their plan, you should survey those who have canceled intentionally. That way, you can understand how to improve and serve future customers or even entice former subscribers to restart their subscription. If you know why subscribers are leaving, you can adjust your plans, pricing, or features accordingly.
Allow Them to Pay the Way They Want with Multiple Payment Integrations
With so many different payment options, people like to stick to the method they know and love. Instead of only offering one way to pay, you can help your subscribers use their favorite form of payment or currency. Partner with a subscription management platform that gives you access to a wide variety of different payment gateway integrations. Your customers are sure to enjoy the convenience of paying with their preferred payment method. When you show your subscribers how much you care and strive to always meet their needs, they’re more likely to return the devotion with loyalty to your company.
About Recurly
With more businesses introducing subscription-based models every day, you need help standing out. That’s why you should consider partnering with Recurly. With over a decade of experience, Recurly is a subscription management and billing platform that can help you streamline and grow your business. They can help you keep up with the latest innovations in the world of recurring billing. With all their smart tools, you can successfully implement and manage a dynamic subscription system for your business. Recurly has helped manage over 40 million subscriptions across a wide variety of industries. Whether you own a growing SaaS company or want to introduce a subscription option to your beauty brand, Recurly can help. From testing alternative pricing models to improving the results of your churn rate formula, Recurly makes it easier than ever to build a thriving subscription-based business.
Create the subscription experience your subscribers need with Recurly at https://recurly.com/
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