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Are you still using basic tools like Google Analytics to measure the success of your marketing initiatives? If so, you’re probably struggling to truly understand the ROI of your various marketing initiatives. This is because tools like Google Analytics can only measure how many people visit your website, and they...
Every subscription business aims to build a strong subscriber base and turn their customers into brand ambassadors. Valuable subscribers aren’t necessarily the customers who spend the most. Profitable customers advocate on your behalf, share valuable feedback, and actively interact with your brand. When identifying your most profitable subscribers, apply the...
While winning new subscribers is essential to your subscription business, long-term success and growth are only possible if you can retain those subscribers. Minimizing churn and maximizing renewals are crucial, and doing it well requires fast access to the metrics that measure your progress and deliver insights into trends and...
When I speak with the executives of recurring revenue companies, we discuss common goals like attracting new subscribers and keeping churn rates low. I always ask how they measure their progress toward those goals — and I'm sometimes surprised at their answers. Not every business that relies on recurring revenue...
If you bill on a recurring basis, you likely already know the importance of tracking Monthly Recurring Revenue (MRR). Recurly calculates this all-important subscription metric for your business as part of our Analytics offerings. While the MRR Analytics Report is the most viewed report in our product, it’s also...
It’s no secret that companies of all sizes and in every industry consider data a must-have. If you’re able to take full advantage of the data you have on hand, you can gain deeper insights into the state of the business, make better decisions at a faster clip, and increase...
Recently, Recurly Chief of Staff, Emma Clark joined Subscription Insider’s Kathy Greenler Sexton to discuss the impacts — both positive and negative — that COVID-19 has had on subscription-based businesses. If you missed out on the webinar, here’s the gist. COVID-19 has entirely reshaped the subscription landscape, as well as increased the economic uncertainty...
Subscription Billing Benchmark Report The unique challenges that come with a subscription business are many. From churn and decline rates to revenue recovery, the obstacles are all too real. Recurly is in the business of making subscriptions a competitive advantage for our merchants and to this end, our business analysts...
In a previous blog post, we’ve described the ground-breaking data science work spearheaded by Recurly’s data science team. Since that previous post, we’ve conducted various cutting-edge research projects to address our customers’ needs for data insights. One interesting project uses time series forecasting to predict future subscription volume and MRR...
Software as a Service—also known as the SaaS model—was one of the earliest adopters of the subscription model concept. There are, of course, a multitude of compelling, strategic reasons to adopt a subscription model based on access rather than ownership: more predictable recurring revenue streams (and compounding revenue); improved subscriber...
As noted in a previous post, the subscription e-commerce business is booming. This segment has grown by more than 100% per year over the past five years, according to McKinsey, and research from Shopify suggests that global e-commerce sales will hit $4.8T by 2021. Capturing and managing your e-commerce offerings...
Many key business processes today are run on a suite of SaaS business applications. From marketing automation to inventory management to accounting, best-in-breed applications have permeated even the stodgiest of industries. While these applications have created tremendous efficiencies, it’s critical to ensure that each application is using comprehensive, up-to-date data....
In a previous blog, we talked about how Recurly’s machine learning models help recover recurring invoices which initially failed and had entered the dunning process. Today, we want to share some analysis on the recovery rate for such invoices. Knowing what recovery rates are typical for your business allows you...
In a previous blog post, we outlined how Recurly uses machine learning in our Revenue Optimization Engine to predict transaction success and maximize your revenue. This unique Recurly technology is an example of how machine learning, if handled correctly, can be a powerful tool for preventing involuntary churn. At Recurly,...
SubSummit 2019 in New Orleans has just wrapped up, and the attendees from Recurly had a blast meeting with industry partners and prospective clients. Chief of Staff Emma Clark led a discussion on “Subscription Benchmarks,” and the team even found a little time to explore the Big Easy. Over the...
While many statistical trends apply to all subscription businesses, it’s important to also understand the unique challenges different subscription industries face. For example, how best to structure one’s product offerings, what discounts if any should be given to customers willing to commit long-term, and what role does pricing play? The...
Modern business software contains a wealth of customer data and has provided for much greater operational efficiency. It’s also added to the difficulty of managing and integrating data across systems. Creating custom data fields can help mitigate this by connecting data across systems. Custom fields can also be used to...
The Internet of Things is transforming how we live, work, and play. Beyond the familiar ‘smart’ devices in our homes, such as thermostats and fitness trackers, the Internet of Things (IoT) has applications in a wide-ranging realm. There are devices that can find our lost phones and luggage, monitor our...
In our previous post in this series, we talked about the difference between cancellation and churn. The post outlined the different actions you can take when a customer cancels to try to prevent them from churning and how Recurly helps to identify these customers. Because we know you can’t prevent all...
Returnloads.net is an online freight exchange in the UK. They connect haulage companies who have empty vehicles with businesses that need goods moved—helping to reduce costs along with the number of empty trucks traveling throughout the U.K. ReturnLoads is also a Recurly customer and one that’s so happy with the...
Just as a carpenter would certainly choose a hammer to drive a nail, not the blunt end of a screwdriver, so too should a merchant use the correct tool to extract data from Recurly. Today, a merchant has three different options for extracting data. Listen for events in Recurly (via...
Fitbit fitness tracker. Nest home thermostat. Philips Sonicare toothbrush. LIFX light bulbs. Caterpillar tractors. The Port of Hamburg. What do all these have in common? They’re all part of the Internet of Things, or IoT, where “smart” devices collect and transmit data, which can then be used by either the...
Guest blog post brought you by Bizness Apps, a Recurly customer providing a fast & easy way for small businesses to make Mobile Apps. Every customer payment we take in over at Bizness Apps is paid using Recurly, so it’s safe to say that Recurly is kind...