Subscription management software: What Recurly can do
The future of commerce is subscribed—we’ve known that for years. Brands across all industries have embraced the recurring revenue model to drive customer loyalty. Today, you can subscribe to anything, from streaming media to box-of-the-month services.
However, too many subscription businesses struggle to retain and scale their subscriber base because they can’t keep up with consumer expectations and market fluctuations. Their platforms won’t let them change pricing models, add new payment methods, expand globally, or get the insights they need.
To keep a good thing growing, you need an easy-to-use subscription management software that lets you react in real-time with data-driven insights and an experienced partner to help you manage subscriptions at scale.
Recurly is the subscription and billing platform trusted by leading brands to grow their recurring revenue faster, smarter, and stronger. Here are ten things we can do for your subscription business:
Grow faster
With Recurly, you can grow faster: Our easy-to-use platform lets you react in real-time–iterate, experiment, and quickly adapt to subscriber demands without draining your own engineering resources.
1. Manage the entire subscriber lifecycle
Recurring payments, billing, and consumer demands constantly change–make sure you're always one step ahead. Recurly’s subscription management software automates time-consuming manual processes, such as billing, invoicing, reporting, communications, and workflows, so you can focus on your product.
2. Iterate. Experiment. Adapt.
Subscriber demands are ever-evolving, and brands must adapt to consumer shifts for positive downstream revenue impact–the faster, the better.
According to McKinsey & Company, 71% of consumers expect personalized offerings, especially in subscriptions, which is all about moving faster through flexibility. In this rapidly-moving space, the ability to iterate, experiment, and launch quickly is key to success.
Recurly automates current processes to streamline go-to-market speed and deliver options across the subscriber lifecycle: Roll out new plans, billing methods, payment methods, single purchases, and bundles with just a few clicks.
3. Convert more trial customers into loyal customers
Competition rises, motivations shift, and consumers evaluate purchases. Subscriptions are a top driver of loyalty and revenue growth for brands looking to scale. Beyond transactions, consumers want curated experiences to rediscover value.
Recurly fact: U.S. consumers feel more loyal to (51%) and spend more money (42%) with brands and businesses they subscribe to.
Keeping this in mind, direct-to-consumer (DTC) brands are looking for reimagined ways to align their offerings to consumer priorities by focusing on creating community and delivering convenience. With Recurly, it’s all at your fingertips–easily configure and monitor discounts, coupons, and promotions to engage and convert new subscribers.
Grow smarter
With Recurly, you can grow smarter: Get data-driven insights to capture more business and advanced machine-learning revenue optimization to help you boost your revenue.
4. Burn the churn
Churn is inevitable in subscriptions, yet involuntary churn shouldn't be the main reason you lose customers. Avoid disruptions with Recurly’s decline management strategies–we work in the background to minimize failed payments and increase revenue, giving you control over your finances.
Growth Myth #46: There's no easy fix for credit card declines.
Despite 13% of recurring transactions at risk of failing and 2,000+ reasons for card declines, Recurly has helped its customers reduce involuntary churn to as little as 1% with our revenue optimization engine that proactively and automatically failed transactions.
5. Increase your revenue
A one-size-fits-all approach isn’t the solution anymore. You must understand why your subscribers are signing up and churning to implement the right retention strategies. Recurly’s sophisticated decline management suite of tools turns failed renewals into successful renewals.
Account Updater: Get ahead of card changes and automatically update customer information for Visa, Mastercard, Discover, and American Express users.
Expired card management: Leverage our proprietary logic to manage expired cards ahead of renewals to prevent declines.
Intelligent retries: Recurly's intelligent retry solution analyzes billions of attributes and uses machine learning to create statistical models for retrying transactions when they’re most likely to process.
Dunning management: Streamline your approach to collections–automate your subscriber notifications for card updates with customized dunning strategies.
How much more subscriber and revenue growth could you have? Find out with Recurly's Growth Calculator.
6. Retain more subscribers
Drive subscription loyalty by responding to your customers’ needs better. Recurly’s subscription management software gives you real-time visibility and built-in engagement tools across the entire subscriber lifecycle.
Plan changes in a few clicks: Manage subscription changes easily–from upgrades and downgrades to refunds and service credits.
Let subscribers hit “pause”: Enable a pause functionality to reduce cancellations significantly.
Communicate in a personalized way: Stay in touch with your subscribers through customizable communications and robust Salesforce and Zendesk integrations.
Renew better with Wallet: Allow subscribers to add multiple payment methods to their account and designate one as a fallback for renewals.
7. A single source of truth for subscriber data
Without a complete view of your subscriber base, you’re operating blindly and can’t make the right decisions around pricing, promotions, and expansion. Leverage actionable data about business growth with Recurly’s robust subscription business analytics, intelligent insights, and informative dashboards.
Our Analytics dashboard provides a 360° daily overview of the state of your business. Dive into subscriber lifetime value in detail–access to subscriber, plan, revenue data, KPIs, trend analysis, and a variety of exports that provide comprehensive reporting to subscription insights.
Grow stronger
With Recurly, you can grow stronger: Work with an experienced partner who can help you manage subscriptions at scale, anticipate challenges, and tackle problems before they arise.
8. Grow your business exponentially
Relying on a subscription and billing platform that automates your processes gets you the time you need to focus on your main product. Recurly’s subscription management software is built with your subscription revenue goals in mind. Innovative companies like Paramount+, FabFitFun, Output, and others have experienced 10x growth.
9. Expand to new markets
You want to sell globally, but your billing platform won’t let you? Recurly makes it easy for you to scale without limits. Expand and reach international markets with our customized payment, currency, language, and compliance support.
Payment methods: Offer a wide variety of payment methods and 20+ gateway integrations, so your subscribers can pay how they want from anywhere in the world.
Currency support: Charge in the currency your customers prefer to pay–choose from more than 140 local currencies.
Localized communication: Leverage customized checkout pages and targeted customer communications in over a dozen European languages.
Localized compliance: Recurly is fully compliant to meet local rules and regulations across the European Union.
10. Get benchmarks & best practices
Learn what leading subscription brands are doing to replicate it in your business: Spot new growth opportunities based on industry benchmarks and get strategic guidance from industry experts with a 10-year head start in subscription management.
Keep a good thing growing
Growth is powerful with subscriptions and possible with Recurly–the subscription management software helping leading brands grow their recurring revenue faster, smarter, and stronger.
Ready to see Recurly in action? Book your demo.