Subscription business models are becoming more and more popular. Rizer CRM manages subscription data, billing cycle length, and all other details.
As the subscription management system is integrated with the CRM, after the customer signs the entire process is streamlined with the help of predefined pricing variables.
Pricing variables are essential to the idea of any subscription management solution. Pricing variables describe how a customer used your product or service. These variables can be permanent, consumable, or monetary in nature.
Permanent variables allow you to compute the number of units used by someone during a given time period. Number of users or number of apartments are good examples of this type of variable.
Typically, these variables are calculated at the beginning or end of the period. They can be calculated as averages or as the highest and lowest values in some cases.
Consumable pricing variables track how much of something is used. The most common example is the number of minutes used on your phone bill or the amount of internet traffic consumed.
Consumable pricing variables are typically calculated at the end of the period when consumption data is available. In some cases, it is possible to estimate and pay in advance.
Pricing variables based on money are common in financial institutions or any other service that charges a commission.
A good management of pricing variable data and how it is used is critical to the operation of subscription management.
A good subscription management system also requires good product pricing modeling. It must support various cycle lengths and calculation methods.
Manage customer subscriptions directly in the CRM and gain complete control over the customer lifecycle. View a list of all active subscriptions. Revenue recognition is simple.
Subscription businesses require a strong solution to manage free trials, upgrade or downgrade existing customers, and collect recurring payments.
Improve customer service by utilizing a unified approach to customer communication. Managed customers have a complete record of all interactions and touch points. This way, every member of the team is empowered to move the relationship forward.