Recurring billing software is the staple of Software as a Service (SaaS). Any company without it is seriously lacking and is potentially leaving the door open for competitors to get an advantage. Once you have recurring billing software in place, you still need to think of ways to improve it.
Sometimes it’s best to simply upgrade to a different provider. If you’re working with a subpar provider, you’re cheating yourself. You may decide to switch to a provider like SubscribePro recurring billing software. This is the easiest way of drastically improving your software.
But now you need to figure out what you should be looking for in recurring billing software.
Basic marketing proves that signing up and making a recurring payment should be simple. Here are the main characteristics of conversion optimization:
- Ask for as little information as possible. Customers don’t want to have to give a lot of their personal details away.
- Reduce distractions. Don’t offer them a chance to go elsewhere.
- Cut the number of steps needed to sign up for recurring billing.
Settle for Monthly Options
You should use a recurring billing system that prioritizes the monthly options. The yearly option is too long and the weekly option is too short. Studies have shown that monthly recurring payments are the best for encouraging customers to sign up for recurring billing.
How Many Payment Types?
This is the crux of the matter. PayPal and entering card details is standard to practically all forms of software. On the other hand, more payment types mean you can potentially snag more customers. Generally, the more available payment options you present, the better.
SubscribePro, for example, supports over 60 payment types. This is absolutely huge and guarantees that no customer is left behind.
Recurring Billing that makes it clear
The one problem with lots of recurring billing packages is they don’t always make it clear on the frontend that recurring billing is in place. We don’t mean that you should add it in the small print. It should be in big, bold lettering that’s front and center.
There’s no easier way to lose a customer than to make a recurring payment agreement without their knowledge. Not only will you have to refund the customer, but the chances are they’ll be furious about it.
Make sure you have a way of informing customers explicitly about what they’re getting into.
Hackers change their plan of attack all the time. It’s why you need regular updates to encryption protocols and firewalls. If you don’t have regular updates, you’re going to run into a situation where it’s more likely that personal details are going to go missing.
That puts you in an unfortunate position because not only will you have to compensate them, but you’ll also have problems with lawsuits.
Choosing recurring billing software isn’t something to do lightly. You should carefully weigh the pros and cons of each option before committing. The wrong decision could damage the relationship between you and your customers.