Most of us are more or less at speed with the fact that Customer Acquisition is one of the important phases in a Subscription based business process. There are certain ‘best practices’ in order to increase the customer acquisition rate and reduce churn. Streamlining the Customer Acquisition process will skyrocket sales of any Subscription based Cloud billing solution provider.
Trial Sign-up Process:
Subscription based services enables users or end customers with the Try & Buy model, which gives an option to sign up for a Trial period, evaluate and go for a commercial contract. A Subscription based service provider should have a system in place, which allows them to define a trial plan and activate users’ access. The system should automate the lifecycle of a Trial User such as trial plan activation, providing limited / controlled access to the service and deactivation of the trial services based on the trail period expiration.
Cloud service provider should communicate to their Trial Users effectively in advance to convert them into Paid Users. Sending regular communication will help in keeping the trial users engaged, and help them explore additional & attractive services available upon subscription; which will result in maximizing the cloud service provider’s revenue. Cloud service providers should have a system which provides a list of Trial Users whose access is about to expire, this will help them follow-up systematically before the account expiry date and initiate other promotional service offerings.
Contract Sign-up & Tailor Made Plans
It is a highly challenging activity for a cloud service provider to sign-up a commercial contract with their customers. In addition to the plans or packages offered by a cloud service provider, customers will have their own plans, service requirements and contract terms during contract negotiation. A Cloud service provider should meet their customer requirements by singing up tailor made contracts. A Cloud service provider’s system should be able to define flexible service packages, plans, and pricing & contract terms.
Cloud Service providers should provide customers with the choice to utilize their preferred services, which not only reduces churn rate substantially but also retains high value and profitable customers. With this, a service provider can experience an increase in overall organization profitability. Cloud service providers should have a Business Support System and Monetization platform, which streamline the customer acquisition process.
SURE! is a customer management, metering & billing solution for IaaS, Unified Communications & Collaboration, SaaS & OnDemand. The billing and monetization platform available on-demand enables service providers to both automate their back office operations, as well as support more sophisticated pricing and billing models. SURE! is revolutionizing the way in which subscription businesses can run and manage billing. In addition to dramatically simplifying a service provider’s billing, payments and subscription management capabilities, SURE! also offers additional benefits to other parts of a service provider’s organization such as Marketing, Finance, Accounting and Sales to name a few..