How to manage subscriptions flexibly and fully automated
basicthinking from November 27, 2019: Since Spotify, Netflix and Co. we know: One-time purchases are gradually becoming a thing of the past. But although subscription models did not just enter our everyday lives yesterday, they are more in demand than ever, especially due to the digitalization of commerce. With the right solution, companies can make their internal processes more efficient and delight customers in the long term.
Have you ever heard of something called the subscription economy? This term describes a model with which more and more companies in both the B2B and B2C sectors are responding to the changing purchasing and usage behavior of consumers.
You have probably already noticed this phenomenon yourself: The direct purchase of a product or service is no longer the goal these days. Instead of ownership, more and more customers and companies prefer flexible use including the best possible service. A change that is not limited to the media sector alone – nor to the B2C sector.
For many years, regular, fixed-term payment for a product has been an important revenue generator in the B2B segment as well – especially for software and digital services.
Subscriptions provide regular income. And customers continuously benefit from services such as up-to-date software licenses and updates. A cumbersome purchase is thus a thing of the past.
Suitable for all industries
As already mentioned, more and more companies from a wide range of sectors are using flexible subscription models for their products – from retail items such as hygiene and healthcare products for everyday use to digital products and services.
Many customers prefer these flexible subscription models with equally flexible use. And all options are kept open for them: Continuous use of products is just as possible as the desire to try something new and spontaneously decide on something different.
This is particularly attractive for customers if they are granted a free or reduced-price trial period. This allows companies to put the software through its paces as a SaaS solution in everyday practice and only decide to subscribe when they are completely convinced.
In addition, customers benefit from their freedom. Because manageable notice periods and flexible terms keep all doors open for them – without any compulsion.
Why flexible subscription models
fit in all industries
The advantages of a flexible subscription model are not only enjoyed by the customers. Companies also benefit from this.
Prices can be adjusted quickly
Companies can set the settlements completely individually and update the prices.
Payment methods and flexible invoices
Bank transfer, direct debit or payment by credit card as well as by Paypal: Companies can offer their customers a variety of payment methods, and theycan also determine how invoices are issued and sent – either in the traditional way by post or inexpensively as a PDF by e-mail.
Companies that implement a subscription model can expect a positive growth forecast. The generated turnover can be predicted much better.
Subscription Management from nexnet
Fully automated outsourcing
With nexnet ‘s Subscription Management , you and your company automate the customer lifecycle according to your needs. The comprehensive BPO solution saves you tedious work and streamlines your internal processes for budgeting and cost control. At the same time, you ensure a consistently high quality of your services.
And with Recurring Payments, your subscription management becomes a breeze. True to the motto “Made in Germany”, we develop and operate our solutions exclusively in Germany.
Many well-known customers from e-commerce, media and telecommunications appreciate this advantage over providers from the USA or China. Nevertheless, we offer all the features you need to get started with subscription management internationally. SOX compliance or the handling of different tax rates and foreign currencies are included.