Retention Management with SubscriptionFlow – A Platform Where You Get Modified Features for Your SaaS

Retention management is the core goal of any business and to retain customers the enterprises, small to mid-range businesses must be equipped with savvy technologies.

SubscriptionFlow – considering the needs of enterprises and SMEs, renders its services to clients so that business operations can be executed seamlessly.

In this article, we are going to cover the core features of SubscriptionFlow that will ultimately render your business with special reference to customer retention management.

Freemium/Free-trial Management

Freemium and free trial are two interrelated models for Subscriptions that companies offer to create the pipeline for customer acquisition. Freemium and free trial customers lay the foundation for customer acquisition and pave ways for customer retention in the long run as well.

To retain your freemium or free trial customers, the right subscription management system is the right key.

Managing the database of freemiums and free trials, especially, for a large customer base can be challenging. In SubscriptionFlow, you can create fields for the segmentation of the data and apply strategies to get the desired results.

Usage-based billing and API

There is a plethora of billing models for SaaS and B2B businesses that merchants or business owners can offer to their customers. however, some customers only want to get charged for what they consume. Therefore, usage-based billing is a great strategy to retain and attract new customers as well.

Offering your customers, the feature of usage-based billing gives them to use the product without any overcharges or hidden charges.

In case a customer wants to leave a subscription for billing reasons, SubscriptionFlow will generate the view where customers can access usage-based billing. Doing so has a high probability of the fact that customers will take advantage of such a billing model and will most likely retain a usage-based billing model.

Automated Payment and Billing with API

SubscriptionFlow offers API integration for automating subscription management, billing, and invoicing.

We provide facilities for our B2B businesses and then onto their customers. Talking about retention management, SubscriptionFlow provides API integration so that recurring payments can be automated from API rather than using SubscriptionFlow software for their business.

Accounting App Integrations

Reconciliation of accounts and payments is critical to the smooth operation of any business. It’s difficult to manage multiple recurring payments, especially when they’re priced at different intervals or have different billing models. Even if you use subscription management software that provides curated and customized billing options, accounting management is yet required.

Although these systems can automate payment procedures, businesses still require integrated accounting software to reconcile everything and ensure tax compliance throughout their international business activities. QuickBooks subscription management or QuickBooks integration comes into play here. Apart from QuickBooks, another accounting app integration is Xero. With Subscription Flow, you can integrate the accounting app of your choice using API.

Because you can’t afford to have multiple desktop clients or cloud-based applications open in multiple windows, you need a convenient all-in-one platform that includes an integrated QuickBooks or Xero online accounting solution.

This will assist you in streamlining, automating, and tracking payments received and distributed.

Furthermore, because you will retain the capabilities of the subscription management software, you will be able to obtain financial insights and analytics to make well-informed business decisions.

RetentionFlow Usage

SubscriptionFlow has recently launched its in-app features for retention management that enables clients to monitor their customer behavior, real-time analytics, and churn scores.

RetentionFlow as an in-app integrated solution for revenue and retention management is a great source because in this app merchants can create custom triggering events for churns that the app will analyze. Upon every triggered event, the point or score of churns will be calculated indicating a high churn score or lower health score.

With the useful insight and real-time analytics of RetentionFlow, you can also apply vouchers and other exclusive benefits for those customers who have a high chance of churning out. Merchants can select the percentage of discounts, coupon codes, or vouchers so that the customer is retained with appropriate customer retention strategies.

Another feature that you can offer to the churning customer from the RetentionFlow App or SubscriptionFlow platform is offering customers to pause their subscriptions.

Pausing the subscription entails the customer can pause the subscription for a certain time rather than leaving the product or subscription at all.

Downgrading – shifting to lower-priced tiers

Some customers churn for the high prices and in such cases, the most effective strategy to retain such customers is to offer lower-priced tiers – called downgrading in terms of subscription businesses.

Downgrading is an attractive feature to the customer when high pricing is the issue. A high number of customers are likely to retain at low pricing tiers with the useful features as required by the customer or client.

Single Sign On – SSO In Portal

This feature of SubscriptionFlow enables you to access the accounts using the single sign-on (SSO) feature from the customer portal. SubscriptionFlow enables customers to sign in using SSO and OAuth security that acts as the intermediate fellow for safety purposes.

Payment Gateway Integrations

Many customers of SaaS and B2B businesses leave the platform because they do not find the platform of their convenience. Therefore, having multiple payment gateway integrations is important to retain the customer and provide a seamless customer and user experience to the customers.

SubscriptionFlow provides multiple third-party integrations for B2B and SaaS businesses such as Stripe, Braintree, PayPal, Adyen, and much more.

Get multiple payment gateway integrations for your business for secured transactions and take your business to the globe.

Check the table below to know more about the integrations SubscriptionFlow provides.

Multiple Payment Methods

Other than having multiple payment gateways integrated into your business, having multiple payment methods is what attracts clients as well.

Don’t limit your business to a few payment methods rather use SubscriptionFlow, and give customers an option to deliver the transaction using the payment method of their own choice without any hassle. Doing this improves the customer experience leading the customer to use your service and become a long-term customer.

SubscriptionFlow Payment Methods

Automated workflows

Making automated workflows are helpful to speed up the processes.

From the perspective of retention management, automated workflows will help in generating exclusive benefits and retention strategies as soon as the customer comes to the end page or exit page.

These automated workflows are created to execute different processes in general. SubscriptionFlow provides workflows for all activities such as payment gateways, credit notes, chargebacks, coupons, plans, products, entitlements, and so on,

To create a workflow, you will only need to add the contact enrollment trigger and add the action. SubscriptionFlow will follow and generate an automated workflow for the said contact. You can also name a workflow for your business as you want.

For retention management, let’s suppose you create a workflow for customers who comes to the last page to exit from the subscription or product. In the workflow, you can add the trigger to offer an exclusive benefit or offer the user to pause the subscription, and so on.

Automated workflows will help to retain customers as the right retention strategies will be applied at the right time.

The webhooks in SubscriptionFlow entail sending notifications and alerts as the actions are taken from one end. The other functionalities that can be automated are:

Entitlements

Entitlements are the features that are given to the customer based on certain behaviors and certain conditions. Entitlements can be created in SubscriptionFlow for different products and product plans.

For an instance, you can create, entitlements of coupons or vouchers for loyal customers if they buy a particular product plan. For retention management, this feature can be used to reward your loyal customers or also those customers who are about to churn. It is entirely upon the discretion of the merchant or vendor.

Payment Processing and Collection

CollectionFlow app is one of the four apps of SubscriptionFlow that you can use to maintain your payments, payment recovery, payment collection, and related processes. CollectionFlow app gives you a complete interface to manage the due invoices, paid invoices, and overdue invoices so that you can run the dunning management accordingly using the app.

Schedules

In SubscriptionFlow, you can automate the schedule of the actions or configurations of the business. Automate the schedule of the actions (such as schedule can be set hourly, every day, weekly, and so on) so that actions are processed without doing any manual labor.

You can schedule the emails or notifications for free trial customers to urge them to convert into paid users.

Reports and Summaries

In SubscriptionFlow, you can access multiple reports and summaries that will help you understand the business in the light of insights and real-time analytics.

From the dashboard, you can download reports or summaries like subscription reports, sales summaries, revenue summaries, or reports such as Annually recurring revenue report (ARR) or monthly recurring revenue (MRR).

From the RetentionFlow app, you can download a report of customers with all the segmentation based on the higher churn scores and lower churn scores.

SubscriptionFlow provides reports and summaries with holistic business features so that merchants can know the future implementation of strategies and other related aspects.