March 22, 2022 | Authored by: Roy Barak
C-level subscription leaders: Solve the pain points you didn’t know you had
What you don’t know can’t hurt you, right?
As executives in the subscription business, you are “up close and personal” with today’s challenges. For CROs, it’s recurring revenue. For HR, it’s the Great Resignation. For CMOs, it’s subscription fatigue.
But what about the pain points you didn’t even know you had? At Vindicia, we’ve got nearly two decades of subscription intelligence and experience behind us, so we’ve seen more deeply into the minds and behaviors of subscription users than anyone else. And we’ve got the tech stack to solve those tricky hidden problems. Here’s what we recommend for C-level subscription managers:
The CFO/CRO: Assuring every possible revenue dollar
For CFOs and CROs, retaining customers and maintaining revenue streams is the #1 challenge. But this comes with a host of other challenges, such as meaningful reporting, cross-regional regulatory requirements and, of course, reducing churn.
The subscription model is truly a game changer, supporting recurring payments and ongoing revenue for the lifetime of the customer. But how can you be really confident you are not leaving money on the table? That you are truly maximizing every possible revenue dollar?
With Vindicia’s SaaS platform, CFOs can gain more control in acquiring new subscribers, identifying failed payments, recovering lost revenue, enabling all kinds of pricing and payment options, and supporting scale across new markets and strategic partnerships. Our approach to passive churn prevention has been shown to resolve up to 30% of terminally failed transactions, translating into recovery of substantial revenue. Our clients have seen an average 522% ROI from their investment in the Vindicia tech stack. Which means CFOs can be sure that revenue dollars aren’t unnecessarily left behind.
The CMO: Making decisions with conviction
CMOs know they have to drive higher engagement and value with powerful subscription bundles and services. They know the way to do this is with personalization. And they need accurate and meaningful data to make real-time adjustments that will bring results.
More than that, CMOs crave the data that can help them make decisions they truly believe in and can stand behind. At Vindicia, we’ve been working with subscription data longer than anyone else in the industry, and our platform supports CMOs with built-in dashboards that deliver the insights they need to make decisions with conviction.
Acquisition is just the first step in the subscription journey. The real revenue potential happens when customers renew again and again, increasing their lifetime value. The way for CMOs to achieve this is by providing delightful subscription experiences for users at every possible moment beyond acquisition. Vindicia subscription data dashboards provide the fullest possible picture and give CMOs the up-to-date wisdom to spot upcoming trends, test and optimize offers from an informed position, and make smarter subscription decisions that lead to better customer connections, and ultimately, growth. In a highly competitive market, CMOs should demand no less than that.
Head of Product/CX: Having the power that comes with flexibility
You’ve got a lot on your plate in terms of developing and improving your product or app. Managing the subscription side is not your business, strictly speaking, but it is ours. Our business is to provide you with a subscription platform that is flexible and adaptable to your needs, so you can configure it to bring results while keeping your main focus where it counts – your own product.
The customer experience of your brand is essential to creating the sense of delight that leads to retention. The better experience you provide, the more likely customers will remain as customers. Customer success runs the full gamut of touchpoints and experiences, including all aspects of the subscription. Whether it’s a seamless sign up, a frictionless billing experience, or an easy and tempting renewal process, you need a platform that can flex and scale according to your business needs, and a subscription tech stack with the sophistication to help you scale your brand experience confidently and successfully into new markets and new customer bases.
What to consider for your subscription business
The subscription e-commerce industry has grown at a rate of over 100% each year over the past five years. Four out of five subscription companies are still experiencing growth, even in the post-pandemic reality. Whichever seat you occupy at the senior management table, the challenges you face are changing as fast as the subscription industry itself. Make sure you choose the right subscription tech partner to uncover the hidden pain points and deliver the solution to unlock your maximum growth potential.