New Whitepaper Explains How Evolving From Subscription to Activity-Based Billing Reveals New Revenue
Austin, TX
Transverse released today a whitepaper titled Boost Consumption and Create New Sources of Revenue with Activity-Based Billing. The paper explains how moving from simple subscription billing to a more dynamic billing model based on customer activity can rapidly evolve revenue streams around emerging business trends and keep customers happy with tailored service plans.
“Customers are more than subscriptions,” said James Messer, Co-Founder, President, and CEO at Transverse. “They consume and engage with services in numerous ways and activity-based billing allows organizations to bill for anything they can measure. Done right, billing becomes an important strategic business driver, trend indicator, and revenue creator.”
To measure and monetize customer activities, businesses have to break down those actions into measurable components that can be metered, rated, and charged. The more activities that engage the customer and the better the incentives for increased consumption, the more likely they are to remain loyal.
“Consumers are using monthly services to download songs, stream movies or view a digital news article, but most would prefer to only pay for what they use and that’s where subscriptions are limiting,” said Messer. “Businesses can provide a more personalized experience for consumers while creating new revenue streams by charging on an activity basis instead.”
Unlike basic subscription models, activity-based billing solutions, like TRACT from Transverse, creates a process for measuring, aggregating, analyzing, rating, charging, invoicing, payment processing and reporting on customer engagements in real-time.
With software-as-a-service (SaaS), it is now possible to quickly deploy and pay on-demand for a billing solution that governs subscriptions, devices, services resources and usage, activities, price plans, coupons, entitlements, gift cards, loyalty programs, and highly personalized elements.
Download a copy of Boost Consumption and Create New Sources of Revenue with Activity-Based Billing here.