Increasingly, subscription businesses seeking to expand are pursuing a global strategy. But to do this effectively, these businesses need to make sure they have the right subscription management platform.
Capabilities to improve conversion at checkout such as support for multiple international currencies and payment options are vital. Your business will need a payment gateway that supports global payments as well, and one with experience navigating different markets and their unique regulations and requirements.
You’ll need a platform with automated tax support, to ensure that for every transaction, the most accurate tax rules, rates, and exceptions are applied automatically. As your subscription business expands into new countries and regions, it will also face new privacy, security and data storage regulations with which you’ll have to be compliant.
Mobile e-commerce predominates in some regions, so optimizing mobile shopping and checkout experiences will maximize revenue from this channel.
Finally, it’s important to provide your subscribers with an experience that is localized. Whether it’s your checkout flow or key customer communications, providing these critical touch-points in the local language promotes stronger customer engagement. This is true as well for localized date formats and currency displays.
The global marketplace offers a wealth of opportunities to those subscription businesses positioned to take advantage of them. Download our new e-book to learn more about how you can choose the right subscription management platform to power your global success.
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The value of Recurly is that we no longer have to worry about the different aspects of subscription management. Instead, we can focus on things that are our core competency, like adding value to our service and expanding our offering. That’s been a huge win for us.