Recurly

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...

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...

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...

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...

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 th...

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...

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...

Subscriptions have been a part of the online reading experience for as long as your newsfeed has been around. As the world continuously moves further into the digital space, more and more content creators and online publications have opted for recurring billing options. With this strategy, you can build relationships with customers in an online space that most modern readers are already familiar with. As this relationship grows, so does the lifetime value for each customer. Here are some of the most important benefits you can offer your readers by providing subscription options that they might not get from other publications. An Added Sense of Exclusivity for Readers First and foremost, a subscription option gives your customers access to exclusive content. Whereas free articles or stories might be accessible to everyone, your select publications aren’t. This exclusivity adds a sense of intrigue for non-subscribers and a feeling of pride for your current subscribers. You know your c...

As a subscription-based business, the key to sustainable growth is providing value to your customers. That way, they always want to renew their subscription and keep using your service or products. One way to provide value is through bundled offerings. There are many ways to bundle your subscriptions, but it should always be done with the customer in mind. How are you providing more bang for their buck? Does this bundle give them more of what they want? Here are three ideas for bundles that can provide more value to your customers with the help of the right subscription management platform. Bundles that Enhance Your Product Enhancing bundles are like visiting a restaurant that provides their sauce and seasoning options on your table. It allows you to make the main course fit your exact taste. Similarly, you can offer a subscription bundle that includes services or products that may not warrant an entire subscription on their own but work great as add-ons and bonuses to your primary ...

Congratulations! You have a new customer who is ready to sign up for a subscription. The next step in their journey is providing all the information you need to get their subscription up and running. From pricing tiers and custom plans to name, address, and payment details, the sign-up process can often feel time-consuming and sometimes confusing. You don’t want to lose your new customer at this stage, so you must create a smooth sign-up process. Your recurring billing model means it’s important to maintain a positive relationship with your subscribers, and signing up for a subscription is the first step in developing that connection. Here are four tips for creating a smooth sign-up flow for your new customers. Keep a Progress Bar at the Top of Each Page This may seem simple, but it is a feature that can instantly help build the relationship between your business and a new subscriber. A progress bar that shows how far along the customer is in the sign-up process and how far they hav...

When customers aren’t given incentives to stay engaged, their active subscription can soon become a canceled subscription. To understand ways your company can improve its services or offerings, you might ask recently canceled customers to fill out a quick survey. It also gives you a chance to offer a special deal to get them reengaged. Your “churn rate,” or the rate at which you lose subscribers, can often be improved simply by alleviating common customer concerns. To help your churn calculation return positive results, try offering deals to help retain subscribers. If one of these deals helps address their primary concern, they can be more likely to stick around. A Discounted Subscription Price for the Next Three Months The most straightforward problem can also be the easiest to solve. If your customer’s biggest issue is the price, a short-term discounted price is a great way to keep them on board. The duration of this price all depends on your product and its original price. Three ...

If your company wants to craft a subscriber experience that helps you create “forever customers,” every new subscriber’s first impression is incredibly important. When a new customer subscribes to your business, it is essential that their initial interaction with your company makes them want to stick around as an engaged subscriber. A comprehensive subscription management and billing platform can help you make a great introduction. After all, first impressions are everything. With that said, there are a few mistakes you’ll want to keep in mind to avoid making the wrong impression on new subscribers. Steer clear of these three mistakes to cultivate a positive subscriber journey. Lacking a User-Friendly Onboarding Process No matter what industry you are in, you need a user-friendly onboarding process for new subscribers. It’s never too early to help customers understand the ins and outs of their new subscription. Your welcome email is a great place to include a step-by-step process wit...

Loyalty is crucial in any subscription-based business. The world of recurring billing is focused on keeping and retaining loyal customers. Subscribers who connect with your business in a meaningful way are less likely to let cards expire and subscription renewals fail. Loyalty also translates to higher customer lifetime value. But how do you build this loyalty? By following these three steps, you can help create loyal customers and increase the lifetime value of your subscription plans.  Create an Onboarding Plan to Start on the Right Foot Onboarding is your first step to delivering the value you promised before your subscriber hit purchase. It’s your first and best tactic to drive repeat purchase—onboarding has the highest correlation to retention and it’s all about driving engagement. Say you’re a gym and you succeed when your customers see results, keeping them returning to the gym and renewing every month. Your onboarding journey may consist of a welcome email, a...

As a subscription-based company, your business is centered around one thing: your loyal subscribers. You want to gain as many subscribers as possible, but the inevitable result is that every company implementing recurring billing strategies will have customers who end their subscriptions. This is what’s known as “churn.” You can’t keep 100% of your customers—some subscriptions simply come to an end. However, if you understand churn and its effect on your business, you can keep these cancellations to a minimum. Here is a breakdown of everything you need to know to keep your churn percentage as low as possible. The Basics: What Is Churn? Churn sounds like a scary thing to happen to your business, but it isn’t. Put simply, churn is the percentage of canceled subscriptions you company receives in a certain amount of time. That time frame is up to you when you are making your calculations. Calculating your churn rate allows you to see how many customer subscriptions ended in...

You might have noticed that more businesses are now making subscriptions an essential part of their business model. Magazines might have dominated the subscription market in the past, but it is now full of everything from software to clothing. You may think that your business shouldn’t offer subscriptions, but the expanding use of recurring payments proves that almost any business can utilize subscriptions. With a subscription management platform, you can make the switch easier than ever. Here are four markets taking advantage of subscription-based solutions and how they can inspire you to try it too. Subscription Management At-Home Fitness Equipment with Software Subscriptions Gym memberships came first, but subscriptions for at-home workout plans have revolutionized the fitness industry. Companies offer fitness equipment like dumbbells and stationary bikes alongside subscriptions to personalized training routines to help subscribers use them regularly. Selling hardware alongside yo...

With subscriptions becoming more and more common, the original subscription-based services, like newspapers and gym memberships, seemed to be ahead of their time. Now, innovative companies across a wide range of markets have switched to a system of recurring billing for their products. From streaming services to meal kits, clothing, cosmetics, and so much more, subscriptions are a great way to build a steady revenue stream, interact with customers, and simplify payment processes. However, there is more to a subscription-based business model than simple monthly payments. New patterns of payment are becoming the status quo. Here are four innovative subscription pricing models you can adopt to drive customer growth. A Tiered System for When You Have Extra Features to Offer When you offer multiple versions of a product or service, such as basic and professional options, a tiered pricing model is a good subscription offering. Car washes are an excellent example of the technique. They migh...