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Business Strategy4 min read

How to find the right subscription business solution at the right time

Choose the right platform

Choosing the right platform for your subscription business is an important decision, and it can be a complicated one as well. 

Whether you're choosing to start with the gold standard or you've grown your business on an existing platform that's now inhibiting your development, there are lots of tools available for different capabilities. However, usually these only accommodate individual elements of the customer journey rather than providing an end-to-end solution, and an integral part of a thriving sustainable subscription business is connectivity. 

In this article we explore what you need from your subscription platform at different stages of your business development for maximum success.

Start-Ups

The fastest route to start selling

When you're a new business, the focus is on getting to market quickly so you can grow with speed and sustainability. You’ve probably invested in product development and strategies, and now you need to put it all to work. You want a one-stop-shop that makes it easy to get started and generate cash flow straight away. The subscription platform should provide a strong foundation to launch, but also accommodate changing user requirements as you grow. 

 

Key things to look for include

round checkmarkPrebuilt Customer & Guided-Selling Journeys
A solution that enables quick implementation of new channel strategies with minimal development effort.

round checkmarkEasy User Experience
An easy user experience that maximizes sales opportunities. 

round checkmarkEnd-To-End Data Collection
A system that collects structured data throughout the entire customer journey, providing insights that allow you to learn fast from the market.

Scale-Ups

Flexibility to experiment with
pricing and customer journeys

As a scale-up business, you are up and running successfully, perhaps turning over as much as $10 million per annum. You've built your subscription business on your existing tech stack, and that has served you well to date, but for every new customer journey you've got to build it from scratch with heavy development effort. Those challenges will only become more inhibiting as time goes on, creating problems for your team, stifling your ability to move fast, and damaging the customer experience. The time spent on complex customization will take focus and resource away from product development and will reduce your business flexibility. You need a platform that can consolidate and automate business processes so you can implement new ideas, grow your product and reach new customers.

 

Key things to look for include

round checkmarkAn Enterprise-Grade Subscription Business Platform
A business system that offers advanced capabilities beyond invoice generation: integrated commerce, billing, revenue management, and analytics to optimize your business processes for further scaling.

round checkmarkIntuitive User Interface
An intuitive user interface for growing business users and customers with different knowledge levels.

round checkmarkRule-Based Orchestration
A rule-based system that allows users to orchestrate end-to-end processes whilst maintaining flexibility at scale.

round checkmarkExtensibility
An extensible and API-first platform is essential for either building custom user applications or connecting with the growing tech stack across teams.

Established Businesses

Efficiency to launch and
expand in new markets

If you're an established business using a traditional billing system, then you're probably finding that agility is missing for new initiatives and subscription projects. You're finding yourself constantly making decisions that are defined by the structural limitations of your billing engine. Your vision is being compromised and so is your company's ability to remain competitive in the market. You are likely to be overspending on your subscription tech stack and the number of people you need to maintain it. At this point you probably know something has to change, but it's a daunting prospect because the customizations and subscription data migration make it seem like an impossible task. You know you need all of the features we've already mentioned and more, but what you also need is a partner who understands the nuances of what's necessary to transition onto a new way of running your subscription business.

 

Key things to look for include

round checkmarkA More Flexible Subscription Platform
A flexible system that is built with modern development principles and includes pre-built channels for your business to quickly launch in new markets and test the waters.

round checkmarkA Reliable Advisor
An experienced team to give you a free and honest evaluation of your current subscription architecture.

round checkmarkAn Experienced Implementation Partner
An experienced implementation partner to enable a phased approach to transformation, making the process safe, seamless, and cost-efficient.

The solution for your business 

About keylight

The biggest challenge for subscription businesses, which generally have a lot of different components to juggle from early on, is to take a step back and look at the bigger picture. You can get caught up with tackling the immediate requirements and there is not enough information to foresee how today's decisions are going to work down the line. It's comparatively easy to find fixes for individual technical issues, but eventually all those disparate facets would start working against your business objectives.

 

What we offer

round checkmarkA Competent Business System
For businesses of all sizes, keylight is the partner that supports simple requirements efficiently, enabling small businesses to prepare for growth, providing maximum flexibility for scale-ups to address growing complexity, and offering comprehensive solutions for enterprises to manage multiple entities. 

round checkmarkExpertise
>keylight/ delivers all of those advantages and more, implemented and managed by a team of experts who will help you transition to a new platform in a staged process that transforms your business seamlessly.