Recurring Revenue: Top Subscription Management Services
Subscription-based businesses are growing in popularity, thanks in large part to companies like Netflix, Amazon Prime and Birchbox.
To be successful with this type of business model, however, merchants must first leverage the right technology. Not only do they need solutions that help manage recurring billing cycles, but also provide insights into their company's bottom line. For help getting started, check out the list of six subscription management services featured below:
Aria Systems offers a Recurring Revenue Management solution that helps users maximize the value of each customer relationship. With the solution, users can manage each revenue moment from one central location, keep data synced across platforms and automate simple or complex business processes. Plus, Aria helps users track key business metrics, including MRR, ARR, retention rates, churn and more.
Chargify offers subscription and recurring billing services to help users acquire, retain, analyze and manage their recurring customers. The platform offers tools to help merchants manage the entire customer lifecycle and can be customized to merchant’s unique needs and billing scenarios. It is also important to note that Chargify integrates with other platforms, such as Salesforce, Wufoo and Shopify.
Zuora recently introduced a solution called Z-Insights that provides merchants with a complete picture of every subscriber, enabling them to identify subscriber usage patterns and interactions. Merchants can also use the solution to segment subscribers by common traits and behaviors, which can help them look for signs of churn or upsell opportunities.
OrderGroove helps merchants develop better relationships with their customers. For example, OrderGroove provides subscription offer testing and optimization tools to help merchants discover if customers will respond better to offers like discounts versus free samples. By leveraging the testing data, merchants can optimize both their acquisition and retention efforts.
Recurly offers a subscription management and recurring billing platform. For starters, users can leverage Recurly’s customer management dashboard to manage subscriptions and automate complicated calculations. In addition, Recurly helps simplify daily billing tasks, such as routing payments and applying coupons, via smart automation. Plus, Recurly offers business insights that can help users prevent and recover lost revenue.
FastSpring offers a subscription management and recurring billing platform for companies selling Web-based software applications, software services or desktop subscription products. Through the platform, users can leverage multiple subscription structures such as free and paid trials, on-demand subscriptions, promotional pricing and more. It is also important to note that the platform supports multiple currencies, international tax collection and management, refund management, branded order pages and other subscription support features.