In marketing, making it as easy as possible for your prospects to test out your product or service can be a winning strategy. For subscription businesses, a free trial subscription is one way to do that. Customers get a taste of what you provide without having to commit to anything. However, having to enter payment information for something that’s free can add unnecessary friction, making your prospects less likely to sign up. A lost prospect is a lost opportunity to acquire a new customer.Continue Reading
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Next week, we’ll be launching the first of several blog posts about data—specifically about how our customers can use their data in Recurly to improve and optimize their business. Our first post focuses on churn, which is always a key topic of interest for subscription-based businesses. But before we dive into the blog series, we thought it might be a good idea to quickly review the meaning of some different terms related to churn.Continue Reading
Recently, Recurly’s CEO Dan Burkhart spoke to Harry Stebbings, host of “The Official Saastr Podcast.” They discussed a variety of topics in this wide-ranging 25-minute interview, including Dan’s background at eBay and how he came to be a co-founder of Recurly, along with Isaac Hall. He talked about what their “Aha!” moment was in meeting the challenges posed by recurring billing, specifically how providing visibility into customer events is a key aspect of effective customer acquisition.Continue Reading
In the best of circumstances, financial reporting can be a complicated and sometimes difficult task. Accuracy is critical but not always easy to achieve. Subscription-based businesses face added challenges in accurately recognizing revenue. The business may have different billing models with different terms, have numerous customer upgrades and downgrades that need to be accurately calculated, along with many other customer events each month which affect billing. And many high-velocity B2C companies will process a huge volume of transactions throughout the month. All this makes for a complicated daily revenue-recognition process.Continue Reading
Want to know more about Recurly and how we can help power your subscription commerce success? Come see us at NetSuite's largest annual conference -- SuiteWorld -- being held this year in Las Vegas! More information on the show can be found here.Continue Reading
Returnloads.net is an online freight exchange in the UK. They connect haulage companies who have empty vehicles with businesses that need goods moved—helping to reduce costs along with the number of empty trucks traveling throughout the U.K.Continue Reading
As any subscription business knows, recurring billing is complex and presents many challenges that billing for a one-time purchase does not. Different billing models, mid-month upgrades and downgrades, add-on charges, etc. all add to the complexity.
From an accounting and finance standpoint, accurate reporting each month is complicated by these factors, each of which impacts billing and can complicate revenue recognition. And as a business scales, this complexity only increases. Another challenge for finance professionals is that most ERP and CRM systems are not designed to handle recurring revenue.Continue Reading
The Internet and the digital world have brought immeasurable benefits to the world at large and transformed nearly every aspect of how we live and work. Unfortunately, in tandem with this evolution unscrupulous elements have emerged, intent on hacking into systems and stealing data for any number of nefarious ends. No entity is completely safe from the risk of hackers, viruses, malware and other weapons that attempt to compromise our systems.Continue Reading
March Madness is upon us, along with the predictions. No, not which teams will be in the Final Four—but how many hours of lost productivity will businesses suffer due to distracted employees! Estimates are that anywhere from 24 to 82 million employees will use company time not just to watch games but also to research the brackets, make their bets, and track results. And this may result in employer losses totaling as much as $2 billion.Continue Reading
Churn is one of the most sensitive -- and important -- metrics used to understand the overall health of your subscription business.Continue Reading