Industry analysts have predicted that by 2020, all new software businesses and 80% of historical vendors will offer a subscription option. “What began as a trickle a few years ago has become a stampede of vendors wanting to make a move to a subscription business model,” remarks their analyst.
The undeniable reason for this is the significant benefits of the subscription model, both to the business and to subscribers.
The subscriber gets immediate access without having to come up with the entire purchase price all at once, which can often require a significant outlay of funds. Instead, they pay a subscription fee to access the software. And because the software is cloud-based, it’s always up to date.
For the vendor, the subscription model delivers consistent, predictable revenue. It also fosters an ongoing relationship with subscribers, creating multiple touchpoints which provide data and strategic insights.
SaaS enterprises compete every day in this fast-moving, demanding market. To take full advantage of the benefits of the SaaS model, you need an effective subscription management platform which can be the X-factor in helping you to:
Grow subscribers, recurring revenue, and market share
Scale faster while improving acquisition and retention
Monitor subscriber churn and measure mitigation strategies
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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.