A webinar from TRACTBIlling that explains how to offer subscription options to customers, pitfalls to avoid and economics of various subscription business models.
Businesses that implement subscription billing will eventually go through the same trials, tribulations, proliferation of service offerings and evolution of price plans as experienced by telecommunication service providers. To grow and identify new sources of revenue and compete effectively, these companies will need Dynamic Revenue Management - a single system that can handle quotes, account creation, orders, pricing, payments, settlement, subscriber management, analytics, and business intelligence.
TRACT is an integrated billing system that delivers Dynamic Revenue Management seamlessly from the cloud, on demand. TRACT helps companies identify new sources of revenue through improved billing AND increase sales by dynamically tailoring pricing packages to customers’ usage patterns and preferences. TRACT integrates quickly and speeds the launch of new offers, promotions and bundles.
Why offer subscription options to your customers?
Create multiple price plans
Inject relevant promotions
Longer-term, more predictablerevenues
Market Differentiation!
Customer convenience
Attract a new breed of customer
Build relationships with customers
Understand customer buying behaviors for smarter product management
Available on the web at www.tractbilling.com
21. Subscription Maturity Model Business Stage Business Emphasis Billing Capabilities Stage 0 “ Ground Zero” Roll-out of subscription services usually as a test market Ad hoc - No formal definition of billing capabilities exists and activities are most frequently performed in a manual inconsistent and event driven manner. Stage 1 “ Simple Subscriptions” Simple subscriptions with transactional based pricing. Subscriptions characterized by ‘unlimited’ and ‘one-size-fits-all’. Awareness - Billing starts to become complex, more costly. Typically implemented as a set of point solutions ’. The definition and scope varies and is often driven by organizational structure or alignment. Stage 2 “ Activity Management” Caps and charges on usage are added to subscriptions. Market segmentation becomes more prevalent. Managing - The organization recognizes the need for, and understands the benefits of, performing and managing billing activities in a formal and consistent manner. Stage 3 “ Entitlements” Pre-authorization of the use of services based on prior consumption or purchases Improving - The organization proactively manages the function for improvement and is deploying quantified functional performance measurements. ‘Light’ integrations. Stage 4 “ Personalization” Micro-segmentation of your customer base with individualized offers Optimizing - The organization proactively redefines billing activities, processes and outcomes to optimize the function's performance based on changing needs of the business. ‘Heavy’ enterprise integration.
29. Let us show you how Dynamic Revenue Management can help evolve your subscription business. Contact: [email_address] W ebsite: www.tractbilli ng.com Can your billing system do this?
Notas del editor
In order to prevent the down turn you need to add more and more price and product mix levers that can effect the demand equation.
On the cost side it ’ s mostly about being able to introduce new levers or changes to those levers rapidly at a low cost.
Formally recognizing the need and adding those levers over time is what we refer to as the Subscription Maturity Model.