Subscription-based businesses are beginning to realize that the true indicator of growth and company longevity has more to do with a flourishing customer retention rate. Simply put, the customer retention rate reflects your company’s ability to maintain company-consumer relationships over a period of time. Casey Padgett walks through how to calculate your subscriber retention rate and 5 tips on how to improve it.
D2C has taken on a complete life and infrastructure of its own. It’s not just the “mom and pop” stores that are selling directly to consumers, like in the early eBay days. Now, even the biggest brands with global retail distribution networks are trying out the direct-to-consumer route.
Don’t forget the “Forgotten Funnel” at the back end of your business to keep a healthy volume of loyal, paying customers. Here then are 25 reasons why a payment might be declined in your subscription-based business. Gravy.io’s Casey Graham outlines strategies to recover all 25 of them.
Today’s subscription providers are plagued by four key pain points that chronically and uniquely challenge their ability to increase retention, lower cost and drive higher profitability: slow payments, payment expenses, poor integration and payment insecurity.
We’re seeing a total revolution in the consumer economy. Today’s customers aren’t just choosing brands based on price or products; they’re choosing brands that make a statement about their identity.
While credit cards are popular, real-time and alternative payments are the wave of the future. Subscription companies that adopt real-time payments will improve revenues, reduce payment churn, and burdensome payment processes.
Customers expect subscription platforms to seamlessly handle every aspect of the user journey, from onboarding and payment processing to their identity, access and consumption, no matter how complicated those processes become.
Losing four out of 10 customers to a failed payment is a high price to pay during a time with so much economic uncertainty. Businesses can’t afford to lose customers and they certainly shouldn’t be losing them due to a payments issue.
One important reason why electronic payments continue to gain popularity is that they’re easy and convenient. In the subscription industry, there are...
According to PwC, the global OTT video market will double in size between 2019 and 2023, when it will total $72.8 billion. A rapidly expanding marketplace means increased competition for OTT video service providers, who must find the right go-to-market (GTM) strategy.