With the right recurring revenue management system you can build those relationships, growing not only your sales, but your profits – with a lot less effort.
San Francisco, CA (PRWEB) March 05, 2014
Businesses ranging from Adobe to ESPN to Toyota have embraced the revolutionary “recurring revenue” sales model, leading the way in showing other companies how to create opportunities for added sales by disrupting their markets and beating the competition. But recurring revenue is not a one-off sale repeated over and over again. Nor is it just a simple subscription model under another name. It requires a thorough understanding of how recurring revenue works. So, to build that understanding, recurring revenue management solution provider, Aria Systems, offers strategic advice about common pitfalls to avoid in its latest e-paper, “Recurring Revenue Success: Five Common Pitfalls to Avoid.” This valuable e-paper is available free of charge at Aria’s website.
Recurring revenue models, including subscriptions, tiered, freemium, pay-as-you-go, etc., have advanced way beyond just selling simple subscriptions. In fact, they can be applied to just about anything that a business wants to offer to the buying public, from consumer software to baby diapers and formula to viewing live wrestling matches from your smart phone. But there are challenges as well as opportunities for companies that add recurring revenue to their sales structure.
“To help companies understand some of the challenges they will face,” said Jon Gettinger, VP of Marketing, Aria Systems, “we discuss the five common pitfalls to avoid when deciding to move beyond a billing or payment processing system to a robust recurring revenue management system.”
Failure to maneuver around these key pitfalls can spell failure for companies adopting recurring revenue; this includes, for example, the not-so-obvious pitfall of a having a fragmented view of the customer.
“Successful recurring revenue businesses need to take a new approach with their customers,” said Gettinger. “To achieve true success you need to have the ability to optimize the value of each customer relationship over an extended period of time, hopefully for many years,” continued Gettinger. “With the right recurring revenue management system you can build those relationships, growing not only your sales, but your profits – with a lot less effort.”
“Remember, today’s customers want what they want when they want it, and you have to have the right system in place to satisfy those customers, time and time again,” he said.
Is your business investigating ways to expand its systems and infrastructure to accommodate recurring revenue models while steering clear of all-too-common mistakes that can jeopardize such an initiative? If so, consider downloading the new e-paper, “Recurring Revenue Success: Five Common Pitfalls to Avoid”.