Triggered close to each individual's renewal date, renewal marketing is imperative for subscription-based business models. We believe that effective renewal marketing can increase revenues and improve efficiency for the following reasons:
Customers may forget to enter their new billing details, or they may be on holiday when their contract expires. If this happened, they would be unable to renew, and could even be unaware that they need to do so.
It's not cost effective or scalable to physically contact every customer when their contract is up for renewal.
Customers may be inactive users and might need to be prompted to become active again.
There may be a need to explain new features or pricing models.
When thinking about platform development, it’s important to keep in mind that a platform is a collection of two or more technologies working together in harmony to create value.Read More