New Product Launch Leans Heavily on Customer Retention, Monetization and Streamlining Revenue Operations
San Francisco, Calif., July 29 (Bernama-GLOBE NEWSWIRE) -- Chargebee, the leading subscription management platform, today announced its Summer 2022 Product Release. The slate of new products and features is focused on enabling high-performing subscription businesses to monetize their existing customers and fend off the growing threats of a tumultuous economy. These new products help businesses build their cash reserves and maintain their customer base at a time when many businesses - and their customers - are struggling with the realities of inflation and drying up of venture capital, the lingering effects of COVID-19 and a decimated global supply chain.The centerpiece of Chargebee’s Summer 2022 Product Release is Chargebee Retention, formerly Brightback, which along with Chargebee Receivables (numberz), and RevRec (RevLock), all acquired by Chargebee over the last 18 months, represent Chargebee’s initial foray into becoming a true multi-product company.
Chargebee Retention allows businesses to focus on keeping the customers they already have at a time when both businesses and consumers are being forced to evaluate everything in their portfolios and make difficult decisions. Chargebee Retention enables businesses to customize cancellation experiences with offers geared towards continuing the customer relationship and allows businesses to test out personalized retention-magnet strategies to minimize voluntary churn and strengthen customer lifetime value with an ROI of as much as 800%.
“For subscription businesses, acquiring new customers is at least 2.5 times more expensive than upselling or expanding an existing customer. This factor can be even higher with intelligent automation that decreases customer churn while increasing the chances of expansion,” said Mark Thomason, IDC Research Director responsible for Digital Business Models and Monetization practice. “While these retention capabilities are critical during these tumultuous times, keeping happy customers is always in vogue.”
No comments:
Post a Comment