A RECURRING REVENUE MODEL OFFERS SEVERAL BENEFITS,
FROM CREATING STRONGER, LONG-TERM CUSTOMER RELATIONSHIPS
TO GAINING GREATER VISIBILITY ON INCOMING REVENUE.
It can take years for brands to perfect the art and science of subscription and renewals.
Why waste time building a recurring revenue model on your own when you can rely on a full-service subscription and billing solution to do all the heavy lifting for you?
Nexway Monetize can help drive even more value out of your e-commerce business. Our advanced solutions go beyond subscription and renewal management alone. We manage payment processing, fraud detection, tax collection and remittance, and so much more.
We not only simplify subscription billing but also streamline all aspects of subscription management by providing you with a central hub to manage upgrades, cancellations, pricing plans, trials, integrations, and more — with a specific focus on helping you promote subscriptions and reduce customer churn like never before.
Nexway Monetize has helped brands achieve an increase in Customer Lifetime Value* by as much as 13% y/y
*Customer lifetime value (CLV)
is a measure that predicts the total amount any given customer will spend on your business’s products or services throughout the full length of their relationship with your brand. This is influenced by annual loss rate and order value.
Fuel the success of your subscription business with the right metrics.
1. Subscription models adapted to your business.
Get ready to build more long-term value with your loyal customers. Nexway Monetize makes it easy to implement subscription models and billing plans tailored specifically to your business’s unique needs and requirements.
Our turn-key solutions make it possible to bill customers in multiple ways immediately and deploy special promotions in real-time that boost engagement and retention.
Key features include:
PAYMENTS & BILLING
• Recurring payments processing and accounting
• Multiple billing and renewal terms (monthly, quarterly, annually)
• Multi-currency pricing
• Automated pre-billing notifications
• Simplified auto-renewal activation or deactivation
• On-demand renewals
• Lifecycle management
• Payment acceptance rate optimization
• Automated orders, invoicing, and billing
CATALOG & PRICING
• Fixed-price monthly subscription packages
• Multiple pricing combination options (upfront fee, recurring)
• Offer freemiums and trials, including both setting and extending a trial offer period
• Offer coupons, promotions, and add-ons
• Integrate seamlessly with third-party apps
• Enhanced cross-selling functionality (i.e. suggesting relevant items to add to a shopping cart before checkout, based on a customer’s purchases.)
• Simply upgrade and downgrade subscriptions based on customer needs
MONITORING
• History of active subscriptions
• Record of subscription suspensions and cancellations
2. Seamless customer experience.
Building strong relationships with your customers is the key to your business’s long-term success and also the best way to drive customer loyalty. To do that, you must create a consistent and engaging end-to-end customer experience that both offers transparency and encourages customers to take full control of their subscription.
Nexway Monetize provides the tools to boost customer loyalty and trust. Our built-in CRM platform allows you to create, schedule, and send regular email updates to keep customers informed on their subscription status. We can also help you launch a powerful subscription hub where customers can manage their subscriptions with ease, empowering them to upgrade, downgrade, or cancel their subscriptions, change payment methods, get answers to their questions, and so much more.
We help you create a seamless customer experience that quickly adapts to your customers’ needs and maximizes your potential to grow CLTV over time. Key features include:
• Enhanced subscriber account management:
• Easily upgrade or downgrade subscription services
• Multiple subscription renewal methods (i.e. automatic, monthly, quarterly, annually, etc.)
• Personalized nurture email campaigns
• Automated invoices, receipts, and renewal notices
• Automated subscription notifications: pre-billing, trial almost complete, billing reminders, cancellation confirmation, and more.
• World-class Level 1 customer support in 12 languages
3. Track performance with AI-powered reporting dashboards.
Nexway Monetize gives you unlimited access to real-time insights that boost customer retention and reduce churn. Our AI-powered churn prediction and payment failure solutions make it possible for you anticipate customer needs by proactively identifying the customers most at risk of leaving your subscription program before they actually do.
Additionally, our powerful reporting dashboards equip you with an array of essential performance metrics, so you can harness the full potential of your subscription offering. This goes way beyond simple conversion metrics or global revenue tracking. While still important, those alone are not enough to paint a clear picture about the true health and ongoing success of your subscription business.
Our reporting dashboard includes the following performance metrics:
• Customer Lifetime Value (CLTV)
• Monthly recurring revenue
• Retention rate
• Churn rate
• Renewal rate
• Loss rate
• Total subscribers (on any given date)
• New subscribers
• Renewal pipeline
• Subscription changes (canceled, suspended, expired)
Learn why having access to the right metrics makes all the difference!
Monetize allows us to sell our services to the global market without the associated headaches. As a SaaS company, we market a premium package giving our users unlimited access to upgraded features and the Hamster Connect Toolbox. And, Nexway subscription years of expertise help us to boost our SaaS global sales potential and meet all the needs of today’s subscription and recurring contract economy.
Ready to build a subscription business?
Check out these resources.
A few thoughts on why every business should be a subscription business.
Learn which performance metrics to track to grow your subscription business.
Learn more about key payment trends and increase your subscriber base.
Nexway Monetize gives you the essential tools to build and grow a successful subscription business.
Our team is ready to help you grow your subscriber base, increase revenue, boost retention, reduce churn, build loyalty, and improve customer lifetime value.
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