The old ABC’s of web, “Always be converting,” is as relevant now as it ever was. But as digital businesses are finding out, maximizing customer lifetime value – and not pressure – is the most effective way to convert revenues today. What that means for digital businesses is making smart investments in tools and technology that reduce Revenue Leakage at every stage of the commerce lifecycle. Tweet
With its Summer ’15 Release, Avangate has made the next generation of those tools easier to access and use with a new suite of features and capabilities designed to grow your revenue far beyond the initial customer acquisition stage.
Building on the foundation established with the Spring 2015 Release, digital businesses now have even more advanced tools to increase conversions and retention at every stage of the digital commerce lifecycle, from activation and up-sells to cross-sells and renewal.
Control Every Revenue Moment
It’s never been easier to control every revenue-generating stage and moment of your digital business. Act now and start using a complete set of solutions focused on fighting active and passive churn, maximizing recurring revenue and increasing customer lifetime value. Tweet Those include:
- Pro-active subscription enrollment and
- Reactive churn prevention strategies
Avangate’s Active Conversion Tools (ACT!) help you:
- Grow your existing recurring revenue
Leverage pro-active subscription enrollment to increase renewals and generate additional revenue. Use special deals to deepen loyalty and incentivize your customers to enroll in automatic subscription renewals.
- Prevent revenue leakage
Decrease churn and prevent recurring revenue from “leaking” by converting terminations into continued subscriptions. Counter customers’ decision to cancel with the right combination of cost and service incentives at the point of exit.
Easily collect feedback from churning customers and cycle their input back into your products /services as optimizations. Use feedback to identify and reach out to your customers with personalized messaging.
We’re introducing an overhaul to the Accounting area of the Control Panel. The new design and reporting enhancements will not only provide more transparency but also will improve the overall user experience. Enhancements include:
- Increased visibility over and discoverability of financial data.
- Centralized snapshot over revenue sources and expenses/costs.
- Streamlined access to a multitude of finance documents along with new data portability features.
Combine rapid time to market with continuous experimentation and optimization. You not only get out-of-the-box functionality to experiment and tweak but also reporting capabilities to monitor and measure the impact of your optimizations.
Today’s digital customers are unforgiving. When it comes down to the acquisition process, you need to understand and optimize your prospect base to increase conversion rate and average order value (AOV). Avangate offers A/B and multivariate testing, easily, effortlessly, taking advantage of platform data.
Compare purchase funnels, test cart designs and measure the impact of design changes, cart optimizations, promotional strategies, up-selling campaigns, etc. Do it with Avangate’s own proprietary technology and also integrate third-party A/B test solutions at your leisure.
Avangate API Enhancements
Start using Product API 2.5 and enjoy a new interface for your entire product catalog. The latest release of the Product API enables you to:
- Automate setup and management of products and pricing.
- Programmatically create and manage multiple product catalogs.
- Stage product data and synchronize between two master product catalogs.
RESTful APIs are available, but Avangate also supports JSON-RPC and SOAP.
In addition to the Product API, we offer support for gift orders and for purchase orders, enabling you to better support your business customers with custom B2B API-powered experiences. Speaking of B2B, you also have the option of scheduling the start date of your subscriptions, tailoring it to the needs and budgets of business customers.
Fresh out of the Avangate oven is the new developer portal: developer.avangate.com. Available in Beta for the time being, the hub streamlines access to the Avangate API reference and enables you to interact directly with our developers, to easily export documentation and access dev resources. We have more in store for later this year, so stay tuned.
Optimize Recurring Revenue
Avangate maximizes digital goods revenue at every stage of the commerce lifecycle, and this means offering you a suite to not only refine conversions but also retention.
Revenue Recovery Tools
With Avangate’s Revenue Recovery Tools (RRT), custom retention strategies and tactics to fight passive churn become generators of extra recurring revenue. Experiment with tools such as Account Updaters, Retry Logic, Dunning Management and more advanced failovers and routing of payments, to optimize retention and closely monitor results with advanced reporting.
Expanding International Payments
Successful localization requires you to offer the preferred payment method in each market you do business. That includes, for example:
- UnionPay: To reach more customers in China, Hong Kong, Macau and Singapore, as well as across all the APAC nations.
- Direct Debit UK: To enable more UK sales, as Direct Debit is the preferred payment method in over 70% of households across the United Kingdom.
Avangate Geographically Distributed Platform
Recent investments in the Avangate platform include optimizations to availability, performance and security, which have resulted in improvements to loading time as well as the overall uptime. Our goal is to be completely transparent with our upgrades and updates, and to deploy them all without the need for planned downtime.
We’ve also made major investments in our data center, and recently went live with a newly designed secondary data center. The new center, located in the US, can receive shopping cart traffic, which opens up numerous possibilities for setting up and improving the shopping cart and buying experience.
Avangate has also partnered with a third-party dynamic content delivery network to help manage cart traffic and distribute it according to a dedicated setup, adding additional services like multi-data center failover and balancing capabilities during the cart delivery.
We hope you’ll enjoy Summer ’15 Release with over 200 new features and enhancements that will allow you to convert revenue leakage to revenue uplift.