The world of ecommerce moves quickly, and companies need to be savvy when picking a business model and selecting tools that empower them. Many digitally native vertical businesses are turning to subscription-models as a way to get a reliable stream of revenue.
Companies across industries are able to offer subscriptions on products and services. If your company offers subscriptions or you’re thinking about switching to such a model, there are business-facing customer relationship management platforms you need to boost sales.
Here are some of the benefits you’ll get from the right platform.
When you have powerful, smart analytics working for you, you’ll be able to maximize revenue in a few ways. For example, industry leaders like LimeLight subscription billing platform offer Smart Tags and predictive analytics which help your company segment prospects and customers based on their lifetime value.
You’ll also be able to easily identify which products and marketing campaigns are performing well and which aren’t, so you can invest in what’s working and pull away from what is not. Omni-channel marketing features make it easy to align online and offline campaigns.
Subscription sales are vastly improved with revenue maximization features, such as those which ensure card data is accurate before a rebill cycle. This will spare customers a hassle, and helps to iron out wrinkles in the transaction process before they occur.
Grow your business by reducing hard declines while improving customer relationships. Smart analytics will reduce the barriers standing between your company and a sale.
Modern business-facing ecommerce platforms are designed to be modular, so your business can connect with a wide selection of third-party apps in different positions across the value chain, but in a way which is always simple and seamlessly running through the ecommerce platform.
There are ecommerce platforms which let you connect with a huge selection of payment gateways, fulfillment centers, affiliate marketing, call centers, anti-fraud services, order confirmation, and way more.
Cyber security is a popular topic of conversation now, in the wake of high-profile hacking scandals affecting prominent political parties and multinational corporations. Online retailers everywhere understand that security they rely on needs to be world class.
The platform you pick should have multiple layers of robust security; they should have their own anti-fraud specialists while also partnering with industry leaders in security. You’ll accept orders with confidence knowing your transactions have been screened in advance.
Data gathered across the platform will get updated and refined constantly, so that suspicious transactions are declined in advance. This will dramatically reduce your chargeback rate while increasing your acceptance rates.
An ecommerce platform that’s adaptable and flexible will help you customize risk levels by campaign, product, or payment gateway as required. You’ll get the benefit of personalized attention from anti-fraud specialists who can set up your entire account and fight Representments for you, while also enjoying automated protection on ongoing transactions.
Adaptation doesn’t always require constantly staying plugged into the newest trends and developments; sometimes, having the right tools can help make the adjustment easily. For subscription-based businesses looking to grow sales and remain secure, they need to pick the right ecommerce platform.
Interesting related article: “What is Cyber Security?“