Grow recurring revenues with a subscription call center
Acquire more new customers, retain subscribers, and grow your recurring revenue with a subscription call center like Loop.
You can significantly boost your subscription business’ recurring revenues with a subscription call center.
Increasing recurring revenues is the top priority for a subscription call center. With this unique focus, subscription call centers are more than capable to acquire more new customers, retain subscribers, and, most important, grow recurring revenues.
But how exactly does a subscription call center do all that for your subscription business?
Here’s a quick overview.
What is a subscription call center?
The people behind subscription call centers live and breathe the subscription business model. They understand the hurdles your business has to overcome – converting trials, getting paid subscriptions, increasing renewals, and offering upgrades – in order to win your customers’ loyalty. In other words, a subscription call center is equipped to overcome challenges that determine whether your business thrives or stagnates.
Of course, you want your business to thrive. So the best way to boost your recurring revenues is to enlist the help of an effective subscription call center. In a nutshell, this is what a subscription call center does for your business:
- It reduces customer churn and dissatisfaction by identifying and eliminating pain points in your customer journey.
- It acquires more new customers.
- It grows your recurring revenues by cross-selling and upselling not only on special touch points, but also to other subscriber segments that most call centers don’t know about.
Why you need a subscription call center
Managing a subscription business is fraught with complexities. You and your team are already riddled with an endless to-do list to create a great user experience. With so many things on your plate, a subscription call center can definitely help.
Here’s a simplified list of some of the services that a subscription call center should be able to do for your business:
|Get more new customers from website visitors.
||Increase adoption rates and keep more of your new paying customers.
||Bundle multiple products together during sales.
|Convert more leads, free trials, and free-tier subscribers.
||Reduce churn around common pain points like the first renewal event.
||Cross-selling throughout the customer journey.
|Reduce order form and landing page abandonment.
||Improve long-term retention beyond 1 year.
||Offer upselling and add-ons at the right time to increase recurring revenues.
|Increase trial and free-tier to paid subscription conversion.
||Deploy the most powerful weapon against churn: customer satisfaction.
||Know which customers to cross-sell and upsell based on their behaviors.
|Improve acquisition from inbound phone opportunities.
||Proactively find customers with renewal problems, and offer the right solutions.
||Proactive cross-selling and upselling to the right customers at the right time.
|Generate customers from social media.
||Get insights on how to improve your service and product from your customers.
The difference between a regular call center and a subscription call center
Are all “call centers” really the same? Find out the differences between a regular call center and a subscription call center below:
- Unique focus on boosting recurring revenues.
Boosting recurring revenues is a priority for subscription call centers. After zeroing in on this priority, a subscription call center then focuses on the following support steps: improving acquisition, adoption, retention and renewals; cross-selling and upselling; reducing churn; and collecting insights for product and marketing improvements. This is different from the traditional call center focus on sales, saves, productivity, and quality.
- Subscription model expertise.
The people behind subscription call centers – leadership, management, and frontline agents – are subscription model experts. They possess an in-depth understanding of the subscription business model, as well as hands-on experience with subscribers and internet marketing. A subscription call center is the perfect partner to improve your recurring revenues.
- Customer journey mapping.
Mapping the customer journey and finding hidden touch points make a huge difference. This is what most subscription businesses and regular call centers miss. Call center services are tested on all identified touch points. Those that significantly improve your ROI are monetized, while unprofitable touch points are either cancelled or re-tooled.
- Identify pain points and eliminate them.
Subscription call centers are fully equipped to identify pain points. With targeted subscription call center services, you will be able to reduce customer churn and dissatisfaction from pain points across your customer journey and products. Then, your subscription call center can provide customer insights which enable improvements so you can get to the root causes of churn and dissatisfaction.
- Identify opportunities for massive growth.
Most subscription businesses don’t grow as fast as they could due to undiscovered touch points and customer segments. An effective subscription call center targets these missed touch points so your business can achieve and sustain improvements to acquisition and adoption rates, retention and renewals, as well as cross-selling and upselling.
- Effective multichannel and mobile first communication.
As Generation Xer’s and Millennials take over your subscriber base, the multichannel and mobile first approach is a must. Your subscription call center should focus on Facebook Messenger, Twitter, live chat, SMS, email and phone – channels where potential customers and your subscribers can be found. Using these channels, the right representative will proactively reach out to customers with a solution to their problems. Customer satisfaction is then increased.
- Proactive and responsive renewal processes.
You want to retain subscribers but renewals – especially the first – are huge pain points in your customer journey. To eliminate this, your subscription call center should be equipped with processes to handle renewals, grace periods, and expirations. More important, they should be able to predict which subscribers are most likely to fail renewals. Then proactively contact them to ensure that their next renewal works smoothly.
- Methodology for continuous improvement.
Subscription call centers continually work to improve. This includes constant review of the subscription model, products, marketing, pricing, sales, renewals, churn, refunds, customer behavior, and a host of other factors in order to identify new touch points to test. They will also conduct periodic reviews of the performance and ROI of existing services and touch points, which determines what services to ramp up and expand, and which ones to scale back, re-tool, or cease.
All these boil down to a subscription call center’s unique mindset that is markedly different from traditional call center thinking. Instead of focusing on how well the customer enjoyed the call center service, it focuses on how well the product is enjoyed. Then delivers value that meets, if not exceeds, the customer’s expectation. This mindset leads to intense focus on generating long-lasting recurring revenue streams, allowing you to further boost profits and see your business thrive.
How LOOP can help boost your recurring revenues
LOOP, the Philippines’ leading subscription call center, is fully equipped to help you acquire more new customers, retain more subscribers, and grow your recurring revenues with targeted subscription sales strategies. We are able to help you grow your business using the strategies discussed above. With LOOP, you get high quality call center solutions at a low cost.
Help your business grow. Get the master plan when you schedule a FREE consultation today with LOOP’s Founder and CEO, Jesse Rosenthal.