In order to stay competitive, businesses are looking for new ways to satisfy their increasingly fickle customers. On demand information, streaming video, no cost and instant delivery are just a few examples.
As such, companies are also looking for new ways to package and sell products and services. Today, nearly half of US businesses have adopted, or are considering adopting, recurring revenue models. Companies are leveraging subscription and usage-based pricing to enter new markets, defeat competitors, and get a lifetime of value from existing customers. It all amounts to greater profits over a longer period of time.
However, the move to recurring revenue is not a simple task. A successful recurring revenue business requires more than basic support. You must be able to quickly package and price new products and services, manage complex usage and rules, and monetize every opportunity by engaging customers at each revenue moment, keeping them happy and loyal. If not, then customers will be quick to run into the open arms of the competitor.
At Aria, we believe all revenue will be touched or affected by recurring revenue in the next five years. The question is: Is your business prepared to handle this change?
Implementing a recurring revenue strategy can be daunting. That’s why many of the world’s most demanding enterprises, including AAA NCNU, Falck, Pitney Bowes, and Zipcar, trust Aria to help monetize their recurring revenue initiatives.
Get it right and enterprises are rewarded with long-term growth and increased customer lifetime value.
To find out what’s required check out the video below. And while there’s no easy way, there is a better way.