The long-term health prospects of a subscription business are determined by its ability to retain existing subscribers while continuing to acquire new ones. In a nutshell, any subscription model attains its competitive edge with a consistent and increasing Monthly Recurring Revenue (MRR). While you may have your growth objectives supported by an expansion plan, recognizing the role your platform operations play in building a profitable and scalable subscription business is crucial.
User experience is a much-evolved reality today, and subscription services are gaining ground in their customer community with superior product and platform interfaces. Customer behavior has become a new tool for business scalability. An intelligent way to use customer behavioral data is to derive specific behavioral patterns that can transform your business operations, tap new customer territories, and propel expansion across geographies. This data proves to be robust for the reasons that follow:
- Agile customer support
- Seamless integrations
- Highly simplified and flexible payments platform
- Global currency support
- Maximized content access
- Enhanced customer engagement
- Diversified offer catalog
Insights from subscriber behavioral patterns can be used to design user lifecycle journeys, optimize product catalogs with personalized content offerings, and ultimately build a more credible brand. While all this is going on, don’t lose focus on the business goals for long-term growth and expansion. Hyper-automation supports the hyper-personalization of content by eliminating the need to create and execute workflows manually. Hyper-automation can minimize your workload by about 60% by enabling automated trigger emails to loyal customers as well as the ones likely to be churned out. This capability enhances your platform with agility by designing personalized promotional offerings and continuously updating product catalogs as per buyer behavioral patterns. Additionally, your platform can be equipped with location-specific cluster data to design content recommendations, thereby improving customer engagement. On the whole, hyper-automation simplifies platform functionality remarkably and offers superior user experiences.
A hyperautomated platform not only provides the power to strategize business objectives but also helps establish a loyal customer base. The Evergent Monetization Platform’s churn management capabilities can predict subscriber churn rates based on user behavioral insights with its AI-based predictive analytics platform. Evergent Monetization Platform automatically triggers personalized promotional emails to subscribers likely to be churned out. Thus, the product offers a huge potential for businesses to achieve higher customer engagement by personalizing customer communication and improving retention.
The Evergent churn management system offers a holistic view of subscriber history and derives behavioral patterns that could lead to higher churn rates if not addressed. The power to design highly personalized campaigns to improve retention and communicate effectively with subscribers is now at your fingertips.
Leverage the power of Evergent Customer 360 to enhance your user experience strategy and shift focus to growth objectives. Book a call with our team of experts and discuss how Evergent can maximize customer care and enable rapid business expansion while building a loyal and trusted customer fraternity.