August 15, 2012 | Authored by: Vindicia Team
Big Data and Relevance To Recurring Billing
Many SaaS vendors have a Big Data angle. While we don't use the term to describe what we do, there are critical elements of Big Data that allow our clients to successfully build online revenue.
The Vindicia Big Data approach stems from the 80 million credit cards, 120 million customer accounts and hundreds of thousands of daily transactions that flow through our CashBox infrastructure. The insights we glean from this marketing, billing and payment information help our clients optimize their acquisition and retention strategies, especially because we can shed light on how a client, whether small or large, compares to its peer group. A peer group can mean companies within the same vertical, clients that have similar business models (e.g., all monthly recurring billing) or even clients with similar customer demographics.
These comparative analytics help our clients tune their various operational levers to increase long-term customer lives. The types of insights that we can provide include:
- Have you optimized your payment retry schedule based on day of the week?
- How does your transaction success rate compare with your peer group and what can you do to improve it?
- What marketing programs are driving the longest-term customer lives and have you adequately invested in them?
It's the Big Data component of billing that enables CashBox to become a marketing rather than an operational asset, and is especially relevant to digital businesses that have a recurring billing business model. As a simple example of how data can influence best practices in one particular vertical market, check out the following webinar that highlights data from over 187 executives in the online dating marketplace.
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