If you’re looking to join the subscription economy, one of the most important things you need to do is make sure you’re technologically prepared for it. Because recurring revenue businesses operate online, you can’t afford to miss the target when it comes to your subscription technology.
This article is for you if:
- You are starting a recurring revenue business and want to know what kind of subscription technology you need to have in place before you launch
- You’re looking for a subscription management solution that offers flexibility and convenience
- You are interested in speaking with an e-commerce expert for individual guidance on your situation
Starting a subscription business is no easy feat. Once you decide recurring revenue is the route you want to take with your business, you need a strategy. You must make the initial decisions, such as:
- What recurring products will you sell?
- What will your pricing structure look like?
- What will your upsell strategy be?
- Will you offer a loyalty program?
From there, you will dive deeper into the mechanics, opening you up to a variety of subscription technology options. Questions you will need to ask yourself include:
- Is your website speed up to par?
- Do you want your subscribers to have self-service flexibility to manage their own subscriptions?
- How will you keep track of every customer’s journey?
- What will your support options be?
All of these items center around one important concept — customer experience (CX). Ultimately, if your subscription customers do not get what they need, you will see some churn start to happen. This list covers four essential areas of subscription technology to consider for your recurring revenue business.