The Benefits of Introducing Flexible Subscription Billing Terms with Recurly

1. The Benefits of Introducing Flexible Subscription Billing Terms with Recurly

2. The Benefits of Introducing Flexible Subscription Billing Terms with Recurly When you have a subscription-based business, it is important to offer different pricing tiers to meet your customers’ needs. It’s also a good idea to offer discounted rates if your subscriber signs up for a long-term subscription. A popular version of this method is to provide a discounted price on a year-long commitment. However, paying for an entire year upfront might deter potential customers who are interested but don’t want to make such a big financial commitment. Recurly can help you solve this problem with their flexible subscription billing terms. Instead of paying all at once, customers can opt into a recurring billing process after agreeing to a long-term deal. Here are the benefits of introducing flexible subscription billing terms with the help of Recurly. Offer Deals and Discounts for Subscribers If your business offers a monthly subscription package and a yearly subscription package, it is common to provide a discount for the longer commitment. This will help convince more people to stay with your service long-term. However, they might not be ready to pay the yearly rate upfront. Recurly’s subscription billing terms feature allows you to offer billing options separate from the length of the subscription. This is especially helpful in B2B and SaaS sales. Price is commonly negotiated separately from billing terms. So, if you are selling access to your software for two years, you can also give the subscriber the option to pay the cost as part of a plan. This can help you acquire new customers who might be on the fence about committing to the full-year subscription due to the cost.

3. Increase the Length of the Average Subscription While long-term plans often work out to be more affordable in the end, larger commitments and higher prices can deter some customers. They might see the benefit in saving money in the long run but just can’t afford a lump sum at the moment. As your trustedsubscription management platform, Recurly can help you provide customers with all the options they need. When you use Recurly’s subscription billing terms to offer monthly billing cycles for a year-long plan, subscribers can enjoy the best of both worlds. Your customers can have the option to commit to a longer plan and a lower rate that they might not have wanted to sign up for otherwise. Provide Flexibility to Your Subscribers Flexibility is crucial for many customers. If they don’t have the flexibility that they need from your service, they could cancel their subscription, which could negatively affect the results of your churn calculation. However, Recurly can help you offer unique solutions to your customers’ problems with flexible billing terms. Maybe your customer wants to be billed quarterly or monthly for an annual subscription. Recurly can even help you implement plans such as an annual subscription billed monthly, with two extra months included in the first year. Helping keep your subscribers satisfied is their top priority. Implement Recurly’s flexible subscription billing terms for your customers at https://recurly.com Original Source: https://bit.ly/3ttgaXD