The Customer Lifetime Value (CLV) concept has been around forever. Whats changed recently is increasingly easy access to a wide variety of input datasets (a/k/a/ signals) that work to increase the precision of these scores. CLV scores are increasingly used by companies to determine how they will interact with their customers. Russell Perkins explains.
Behavioral data is the capture of interaction, click, engagement, movement through a website, actions taken via email marketing across the buyer journey and user movement through digital content. The evolution and growth of digital and technology have given businesses and organizations a great opportunity to record, collect and gain a higher level of intelligence from behavioral data. Are you using it effectively to drive subscriptions? Kevin Novak, explains.
The subscription box trend has been on the rise for seven or eight years, and the price of that success is saturation. There are more and more indie box companies, plus massive retailers such as Amazon have jumped on board. Have we reached peak box? Heres a look at the reporting and the data.
A third of consumers have complained about companies on social media, and almost 40 percent are OK with using social channels for customer support. Whats your strategy for serving these customers and managing the way they interact with your brand? Remember, whatever your strategy, the Internet is watching!
A few weeks ago I wrote about the importance of effective customer service. But how do you know if you are delivering that? And what channels -- phone, email, chat, social media, etc. -- should you emphasize? How about innovations like chatbots, intelligent agents, and other automated systems? Measuring customer service breaks down into two general areas: satisfaction metrics based on customer attitudes and performance metrics based on support staff behavior. …
The entertainment industry has been complaining for years about its staggering losses due to piracy. However, even as the video, game, and music industries have evolved toward subscription and streaming business models, they continue to generate significant profits. Media firms still say that rampant thievery is costing them billions -- over $50 billion in 2017! Wheres the resolution to this conundrum?
Credit cards are a blessing and a curse for subscription publishers and monthly box merchants. Yes, auto-pay on a regular basis is sweet indeed, but it comes with the peril of card default. Cards expire or max out, customers dispute charges, and more ... but there are ways to minimize the detrimental effects of credit card declines and chargebacks on your subscription business.
Credit card transactions have topped three and a third TRILLION dollars. With that volume, even a tiny percent of misfires create problems on the order of hundreds of millions of dollars. Companies that depend on card transactions, especially those who depend on recurring payments, need to be proactive in preparing for pitfalls.
Last week Red Hat, Inc. (NYSE: RHT), an open source solutions provider, delivered strong results in its fourth quarter and year-end financials for fiscal year 2018 ended February 28, 2018. Total revenue for the fourth quarter was $772 million, a 23 percent increase over the same period last year. Subscription revenue for Q4 was $683 million, a 22 percent increase year-over-year. Year-end deferred revenue was $2.6 billion, a 25 percent increase.
Understanding how payments work is a key foundation to selecting the right vendors for your subscription or membership business. This guide will help you understand the mechanics of a payment, key terms, and the key players involved from the moment your customer submits a payment to your business, to when the money for that customers subscription gets into your bank account.