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Why Communication Channels Are So Important in the World of Subscriptions

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There is no such thing as too much communication, especially when it comes to your subscription-based business. The more you communicate with your subscribers, the better you understand their needs and their experience. Otherwise, you are operating in the dark without a clear sense of direction. But, when you partner with a billing platform that allows you to easily personalize communication with subscribers and implement solutions to meet their needs, you can help your business grow. Here’s everything you need to know. What Channels Work Best for Communicating with Subscribers? While the specific channels you use to communicate with your subscribers vary depending on your industry, there are some universal methods that can work for any business. Email is a great option, especially if you have a subscription management platform that allows you to personalize your email communication. Social media is also a great way to let your customers know about new features, deals, or pricing op
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4 Ways Data Can Help Improve Decisions for Your Subscription-Based Business

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One of the significant aspects of growing a successful subscription-based business is identifying and leveraging the most important data points available to you. The right data can help you understand your customers’ intentions, motivations, and tendencies, so you can craft a recurring billing model that better meets their needs. As your business grows, it’s even more critical to partner with a subscription platform to help you make analytically driven decisions. Here are four ways you can use data to make important decisions for your business. Evaluate the Performance of Plans and Trials Every business that offers subscriptions knows the importance of testing new plans and trial options. While 30-day free trials might be a great idea when you are just starting, it might make more sense to start offering 7-day trials as your business grows. The answer always lies in the data. Start testing new options and see if the number of new or returning subscribers increases. Offer new pricing
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4 Ways to Give Customers a Subscription That Fits Their Needs

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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 highe
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3 Important Aspects of Reducing Involuntary Churn

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If you manage a subscription-based business, then “churn” is always on your mind. Churn is the rate at which you are losing subscribers over a given period of time, and the results of your churn calculation can help you stay up to date on your business’ overall performance. There are two types of churn: voluntary and involuntary. While many people focus on voluntary churn, involuntary churn is just as important. Here are some essential things you need to know about involuntary churn and strategies for reducing it. Why You Should Focus on Involuntary Churn Involuntary churn occurs when you lose a customer due to a transaction failure and their subscription is not renewed as a result. This can happen because of an expired card, a payment decline, or a subscriber’s bank blocking the transaction. It is important to focus on involuntary churn because these customers aren’t intentionally choosing to end their subscriptions. They might not even know the renewal failed and their payment was
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Gift Subscriptions: A Powerful Tool for Direct-to-Consumer Brands

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As a direct-to-consumer (DTC) brand, it’s important to stay flexible and offer your customers benefits that keep them coming back. This goes double for any subscription-based DTC brand. You must be innovative and stay one step ahead of the competition. It doesn’t matter whether you sell pet food subscriptions or beauty box collections—you should be selling gift subscriptions. Partner with a subscription management platform that lets you integrate gift plans and see how they can enhance your offerings.  Discover the Gift Subscription Essentials Gift subscriptions are exactly what they sound like. They allow your customers to purchase a subscription option and send it to someone as a gift. The two main types of gift subscriptions are cards and plans. Cards are similar to a gift card in that your customer purchases a set amount, and the recipient gets to choose the subscription they want with the card. On the other hand, a plan is selected by the customer and given to the re
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5 Underrated Features Your Subscription Management Platform Should Have

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You’ve started your subscription-based business, and you’re ready to accelerate your growth with a management and billing platform . But where do you begin? While there are many different markets in the world of recurring payments, there are some universal features that can help upgrade almost any type of subscription you plan to offer. The obvious ones include the ability to change pricing models and reliable payment options. However, there are also some underrated features to be on the lookout for, and they might be able to transform your entire business. Here are five elements that could fly under your radar but your subscription management platform should offer.  Keep Involuntary Churn Low with an Automatic Card Updater Involuntary “churn”—the number of subscribers lost to card declines and expirations—can slow down growth. With an automatic card updater, you don’t have to worry about involuntary churn. Instead, your subscription management platform can do the work for
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4 Ways to Improve Interaction with Your Subscribers

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Interacting with subscribers is an essential part of any subscription-based business, no matter the industry. Interactive customers are more likely to post about your products on social media or voice their needs and desires, including ways they think your business can improve. When you get them talking, you can gain helpful insights. The trick is to build an interactive customer base with a variety of techniques. If you create a personable brand with the help of an innovative subscription management platform, your subscribers are more likely to interact with your emails, posts, and surveys. Here are four ideas to help improve your customer interaction. Invite Feedback by Sending Out Email Surveys Sending an email survey directly to your subscribers’ inbox is an excellent strategy for increasing interaction and discovering more opinions about your service. To start a customer’s lifecycle on the right foot, send a survey after their first billing cycle. Offer them a bonus of some sor
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