Develop Effective Subscription Schedules for Your B2B Customers

These days’ subscription-based B2B businesses often have to deal with customers from different industries, demographics and geographies. It’s usually challenging for firms to handle all these customers and cater to their preferences. These customers may have different needs and requirements depending on their characteristics.

Offering Customized Billing Schedules

As a B2B subscription-based business, billing your customers can be an arduous task as each customer may have different needs. Delivering a customized billing schedule can be an effective strategy for catering to customer demands and satisfying their requirements.

What Is a Billing Schedule?

A subscription schedule refers to the structure and duration of subscription plans offered by a business. It outlines the different durations and pricing of subscriptions available to customers. A subscription schedule typically includes details such as the features and benefits included in each plan, the subscription duration monthly, quarterly, annually, and the associated pricing for each option.

A subscription schedule provides you with the opportunity to manage your subscriptions more efficiently and effectively and opens opportunities for seamless revenue management. Different industries can have unique subscription business requirements. In this blog, we are going to explore different options regarding subscription schedules for different businesses.

Monthly Subscription Schedule

This type of schedule involves billing your customers monthly and renewing their subscriptions every month. This type of model works well for saturated and competitive markets where customers have more power. When customers are empowered, you need to tackle them accordingly. Here, nothing can help you more than customer satisfaction. Monthly subscription plans are curated to win customer trust and satisfaction. By offering monthly subscriptions, you offer them flexibility and ease of use so they do not churn and see the value you provide.

Quarterly or Yearly Billing

In quarterly billing, you bill your customer on a quarterly basis, while in yearly billing, you bill after a year. This type of model can work well when the market is less competitive, and customer loyalty is high. Similarly, when you offer a product which requires a longer setup duration or onboarding process, you can opt for longer billing schedules. This subscription schedule is suitable for SaaS companies where customers need sufficient time to understand the SaaS product. So, annual subscription schedules are offered to create a win-win for both customers and retailers.

Subscription schedules that are based on the duration are clear to you, it is high time to take you the subscription schedules or durations that are specifically suitable for certain subscription business verticals.

Magazines Subscriptions

As a magazine business, you can analyze your customer’s needs, their purchasing patterns and their reading habits. There can be customers who opt for annual subscriptions, or some of them prefer quarterly subscriptions depending on their usage and their budget. You can also offer gift subscriptions to your higher-tier subscription buyers. This can lead to customized subscription plans for your customers, tailoring them to their specific needs.

SaaS Subscriptions

As a SaaS firm, you have to figure out your product and your customer needs. As a SaaS business, it’s often very common to have a long onboarding process. Usually, it takes 1-2 months for complete onboarding because most SaaS companies already use some platform to manage their business. Making people understand and effectively use the newly integrated platform takes time. This case demands a longer subscription duration, usually quarterly or yearly. In addition, you can offer some extended features, like some additional integrations to high-tier subscriptions, which can help you in retaining and attract more customers.

E-learning Subscriptions

E-learning firms can look for the type of courses they offer. In the e-learning industry, subscription schedules should focus on providing access to a comprehensive course library. Offering subscription plans based on specific learning paths or certifications enables customers to target their training goals effectively. You can offer monthly subscriptions or yearly subscriptions. You can also opt for usage-based billing to provide flexibility.

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Subscription Billing Customization Being a Challenging Task

Creating customized subscription cycles or schedules can be a time-consuming task. You can face multiple challenges while automating your billing. Often companies find it difficult to keep track of their customer base and their diverse needs. These may make errors, such as billing the wrong customer or charging him more or less. This can lead to serious implications, such as higher churn rates and lower revenue.

Subscription Management Software Is the Key

You can tackle all these challenges by using subscription management software. It can automate billing for your business and provide multiple services.

SubscriptionFlow is a reliable subscription management platform which allows you to automate your recurring billing cycles seamlessly and offer monthly, quarterly, yearly or customized billing options to your customers. SubscriptionFlow enables you to offer various features under different pricing tears (depending on your business niche).

Flexibility

SubscritionFlow offers you flexibility. It can easily integrate with your system with easy onboarding from your previous systems. Similarly, it can easily and seamlessly automate your recurring billing with the option of changing the billing schedules and plans afterwards. This can improve your customer satisfaction and prevent revenue leakage.

Multiple Payment Gateways

One essential feature which SubscriptionFlow offers is the option of having multiple and trusted payment gateways, which can make recurring billing seamless for your firm. It can allow to retain maximum customers and provide them flexibility while being billed. Such options can increase your customer satisfaction leading to higher loyalty.

Also Read: 25-key-features-subscriptionflow-offers-for-seamless-recurring-billing-management

You can visit the SubscriptionFlow website or book a demo to see the range of features that it offers and how they can satisfy your recurring billing needs.