Subscription architecture must consider the entire customer journey rather than just how customers are billed.
The users must feel good when interacting with the subscription systems
Recurring transactions do not automatically translate into robust customer relationships. To build long-term relationships among your business, partners, and customers, you need an intuitive system that facilitates good interactions between users.
Customers should be able to manage their subscriptions effortlessly. Internal teams and partners should not feel the complexity when engaging with customers and creating better experiences for them. Once users are empowered, orchestrating subscription processes becomes effortless and enjoyable. As a result, businesses gain more resources to build products, analyze customer behaviors, experiment, and adapt to market changes faster.
The architecture must work end-to-end for everyone
Recurring revenue is usually the first thing that comes to mind when businesses decide on a subscription business model. Initially, the focus on billing automation may seem straightforward. However, as the business develops, the technology can break down when the requirements of different user groups become more important.
The key is to account for the upstream user steps and solve them right from the start. Automation should start with users and work towards finance, not the other way around. Productivity soars when teams no longer have to contend with complicated manual work or spend months working on connecting systems. This frees up time and allows you to maximize revenue, growth, and efficiency.
The data must capture the right dynamics to understand the customers
The initial purchase of a subscription is just the start of a long-term customer relationship. Apart from revenue reports, it's crucial to have a structured approach to collecting data along the entire customer journey to prevent churn and attract new businesses.
By adopting an event-driven engine, keylight enables analytics beyond static financial reports. Businesses can get a comprehensive view of customer journeys, account profiles, and internal processes. They can also act on valuable behavioral triggers that help teams engage and retain customers at the right time.
Once businesses have shifted to a user-centric mindset, an ecosystem that facilitates change and innovation takes shape.