Blog

3 Reasons Why You Should Implement Subscription Management

By May 19, 2020October 26th, 2020No Comments

Consumers subscribe more and buy less. They prefer downloading software instead of owning, driving a car for a day, and binging a movie or series on Sunday. The subscription model is not only here to stay, it is a proven success.

Software-as-a-Service is the go-to business model for software. Consumers demand the ability to upgrade, downgrade or switch subscription providers when it suits them. Accommodating these customer needs is a complex process. This is where subscription management software steps in.

Customers want to be agile and flexible

Customers no longer solely base loyalty on price or product. Their needs, wants and preferences change very fast these days and they prefer models that cater to new opportunities and possibilities.

Changing circumstances

When circumstances change, customers want to adapt immediately. Your customer might decide to upgrade to a higher or lower pricing plan at any time, even mid-cycle, to better fit their current needs. The right software management software has all the tools and machinery in place that will assist to help them without any additional input from your side.

I want out

When customers decide to leave, subscription management software offers them a clear and professional exit, without hassle. They get a seamless experience till the end, without the need for you to interfere.

Try for free, stay when you like us

Software management software processes trial periods, payment packages and other fees for customers. All free trials and fees will be tracked and traced by the system and an alert will be sent to you when they expire.

Customers like convenience and simplicity

From an easy to use customer portal to setting up a subscription service; everything should be KISS-proof. An easier process will get you higher conversion rates and, in the end, more satisfied customers.

Seamless Payment Service integration

Software Management Software should work with dozens of industry-leading payment, credit card and ACH services.

Always having a trusted payment gateway of choice is not only convenient, easy and secure for your customers, it also gives you the opportunity to use payment gateways that are least expensive and makes collecting from your customers fast and easy.

Automated suspension and cancellation

Suspension and cancellation features help you easily manage late-paying or departing customers in a friendly and professional manner.

A full-service billing portal

Today, 67% of customers would choose self-service over speaking to a support representative. With the right tools available to customers, they can find answers to their questions and solve most issues themselves.

Customers want personalized service and on point offerings

The recurrent nature of subscription services give you an extended period of time to develop an in-depth relationship with your customer. Use this time to understand and learn what they like and what not, what they need, value and what they’d like to see differently. This extended relationship allows you to further improve your model and retain customers for the long term.

Adapting subscription services to individual wishes

Through subscription management software you can include and track bespoke flat rate renewals, metered usage or custom pricing along with taxes, discounts and account credits.

Adapt easily to specific needs of customers and show them they are being listened to.

Conclusion

It is crystal clear subscription-based pricing is here to stay. Make sure you offer your customers a seamless experience from start to finish. The right set of subscription software will help you accomplish this and get you brand-ambassadors for life, satisfied paying customers, successful referral programs, and a steady income flow.

We can help you set up a seamless customer subscription experience

We offer seamless, integrated subscription management tools in the cloud. Don’t hesitate to reach out via sales@ubersmith.com to find out more about how Ubersmith can help you make a success of your subscription model.

Leave a Reply