Subscription billing models comes in all shapes and sizes. As more companies apply subscriptions to their businesses, they explore different ways to bill their subscribers. But which model is really best to use? And what are the pros and cons of the model you choose?
Companies like Netflix and Spotify are able to cultivate cohorts of customers who continue to submit additional payments over time for two interdependent reasons: Customers frequently use the service, and the service is frequently updated.
Adopting a subscription business model means making changes. That's not just changing how you price your products and how you interact with your customers. You also need a new way to relate to subscription metrics.
To give you some context for some of the costs you might not expect in the area of billing and payments, we wanted to focus on the payment processing capabilities required to grow online revenue and the development resources needed to make sure everything is functioning smoothly.
Whether your online sales strategy is nice or naughty over the next few months will determine whether you wake up to a stocking stuffed with shiny new subscription revenue ... or an inert, lusterless lump of unengaged users.
The road to global subscription success is paved with knowledge and understanding. Beyond creating seamless customer experiences and implementing complex billing scenarios, you also have to know what compliance issues you will face on your road to global customers and understand how to mitigate that risk.
In this video, cleverbridge Co-Founder Craig Vodnik explores the complexity of subscription billing models.
It's easy to overlook important costs when comparing in-house and outsourced subscription billing solutions. In order to determine your true costs, you need a full cost breakdown and clear visibility into everything that global subscription billing entails.
In this video, cleverbridge Co-Founder Craig Vodnik explains that subscription billing models look like many different things. By disrupting your business and exploring your different subscription options, you can deliver more value to you and your customers.
The importance of monitoring currency fluctuations and assessing your pricing strategy cannot be overlooked. Currency fluctuations provide an opportunity to test your product’s price elasticity. A well placed promotion can spin turmoil into gold.