With the recent explosion of subscription-based business, more and more companies are opting for recurring revenue models that create stable revenue streams and improve the experience of their customers.
Over the past year, for example, almost 80% of total online sales for software and other digital goods came via subscription-based products and services (source: 2Checkout). And it’s not difficult to see why: a recurring revenue business model provides companies a steady cash flow and allows them to plan for future growth and development.
The recurring revenue model based on subscriptions also enables businesses to offer a better experience to their customers, with the convenience and flexibility they demand. It gives them uninterrupted availability of their favorite products and services and also lets them use them for a reasonable cost, rather than paying a larger upfront fee.
Recurring revenue is, therefore, the essence of the business in this subscription economy. Yet how can you make sure that your organization always has enough recurring revenue to sustain itself and grow?
Our just-released eBook, “How to Maximize Recurring Revenue and Grow Your Subscription Business,” will provide the essential strategies and tools, including:
- Tips on how to make it easier for customers to subscribe
- How to maximize Client Lifetime Value (CLTV)
- Easy strategies to combat voluntary churn
- How smart payment tools can help prevent involuntary churn
- And more!
Learn more about how you can maximize your recurring revenue, reduce churn, and ultimately grow your business. Download this eBook here.