The business model that involves subscription incorporation is a hit in current era and business who are offering subscription services are doing tremendously well .e.g. Netflix, Zipcar, Dollar service club etc.
For the success of subscription based business, the product and service should be of type which can entail subscription feature effectively and more importantly a subscription management application is required to manage the pool of subscriptions.
For your ease, Vtiger 7 provides the state of the art subscription services tool as well. No matter how many profiles are to pledge, Vtiger 7’s subscription tool can handle as much as 100,000 subscriptions effectively.
Sign-up Your Customers for Subscription Plans
A fashion magazine Trendhouse is a weekly magazine and offers three kinds of different subscriptions $12 per month, $32 per quarter or $120 per year. Subscription duration stays 1 year while facilitating the users with versatile payment durations. Subscription module of the CRM tracks the subscriptions of Trendhouse, and stores information regarding time period, amount, and expiry date. At the end of every phase, invoice is sent to the customer, which can be settled either manually enabling user to schedule auto-pay. Doesn’t matter how many are the subscribers; the feature is proving its worth.
Paying per Month or Registering for Auto-pay is up-to Your Customers
When payment is due, a link is emailed to the subscriber following which he or she can either pay manually or setup auto payment every time it’s outstanding. In auto payment, the sum will be compensated from their accounts or credit cards. A lot of man power as well as their worthy time can be saved while elevating the turnover.
Retrying the Failed Payments and Reporting Unproductive Attempts is Programmed
There are several reasons that may result in failure of automatic payments. For the causes that are temporary, e.g. network error, Vtiger 7 tries at least 3 times to make the auto-payment. If for some reasons, auto-pay flops due to some permanent reasons like card cancelation, change of account etc., 3 failed attempts trigger the CRM to generate an email or a customizable notification, addressing the issue while suggesting the possible solutions. On the other end, it also updates the subscription status.
Keeping Tabs on Out-dated and Non-paid Accounts is No Longer Challenging
Keeping subscriptions record and sending notifications is not the only duty that is fulfilled by Vtiger 7. A sharp observation is also maintained on the customers’ profiles and their subscription statuses. Your team never misses an automatic payment failure or manual overdue. Whenever the subscription of a customer is going to expire, the relevant department is notified and desired reaction can be stimulated by the company.