The success of the subscription model has altered the e-commerce landscape. Numerous new and innovative businesses in a variety of industries are launching every week, focusing on the subscription model to provide a better customer experience and build loyalty. As well, a number of notable, ‘traditional’ businesses have transitioned, in whole or in part, to a recurring revenue model. Adobe, for example, no longer sells its software via a licensing model but provides access through a monthly SaaS subscription fee.Continue Reading
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A crucial aspect of successful subscription billing involves being able to communicate with customers. Recurly sends several million emails every month on behalf of the many subscription businesses that depend on our platform, and we are constantly seeking ways to improve this function. After listening to great feedback, we’ve made a number of changes in response. Here’s an overview of what’s changed along with screenshots to show how these changes appear in Recurly.Continue Reading
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
In order to give our customers access to best-in-class applications in both subscription billing and accounting, Recurly has integrated with QuickBooks Online. Our integration will give you the ability to accelerate your month-end close process, automate your revenue accounting flow, and eliminate manual processes.
The QuickBooks brand is synonymous with entry-level business accounting and bookkeeping. While the QuickBook brand may be perceived as entry-level, anecdotal evidence, however, suggests that QuickBooks is used by companies with as much as $20M-$40M in revenue—underlining the stickiness of accounting software.Continue Reading
Recurly is excited to announce a new dunning webhook notification. In subscription businesses, when a customer’s renewal payment fails, the customer enters the dunning process. Businesses using Recurly can use this webhook to receive information on customers in dunning, letting them manage, monitor and optimize their subscribers’ journeys through the dunning process and deploy programmatic responses, as desired. The webhook allows subscription businesses to integrate with various systems that enable these programmatic responses.Continue Reading
All the research indicates that fraud attacks are on the rise and that fraudsters’ strategies and tactics are becoming ever more sophisticated as fraudsters become more brazen in their attempts to steal from businesses and consumers. Fraudsters also have a new favorite target: digital goods. As a result of fraud, card-not-present (CNP) merchants face losing revenue from chargebacks and the loss of the fraudulently obtained goods or services. If the fraud exceeds card processors’ thresholds, they can also face potentially damaged relationships with card issuers, gateways and merchant banks—the entities that businesses depend on to be able to process their payments.Continue Reading
Gift Subscription is not just a holiday buzzword for subscription businesses, it’s a smart customer acquisition strategy. Using the psychology of ‘social proof,’ a gift subscription given between friends or loved ones puts the gifter’s stamp of approval on the product or service, making the recipient more likely to use the gift and convert to a paying customer.Continue Reading
It has been said that you can have data without information, but you cannot have information without data. For subscription businesses, even if they have data, they often do not have ready access to the kind of data that allows them to optimize their business. But with meaningful data, marketing teams and others can formulate strategies that will give their business a competitive advantage in what are often crowded markets.
Recurly is pleased to launch Recurly Analytics which provides relevant, actionable data so that our customers can continually monitor the health of their subscription business. As the saying goes, “you can’t manage what you don’t measure,” and our Analytics gives our customers the information they need to continually refine their subscription business to make sure it’s performing optimally.Continue Reading
For any business, there are untold secrets and insights hidden in their data. Many times, in order to discover these secrets, marketing and business teams have to become detectives, searching for clues to uncover the hidden motivations of their customers, the evidence in the data for what’s working (or what’s not) in their product or service offerings, and what factors influence the success of their business. Sometimes after great effort, these secrets are revealed. Other times, the data just doesn’t exist to provide more than cursory clues.Continue Reading