Business Model Optimization
Digital business models span many flavors and often are the subject of much experimentation by companies.
Digital business models cover the gamut from one-time transactions to freemium to pure-play subscription billing models, and many hybrids. No matter what your business model, there are a set of best practices built into CashBox and reinforced through our Client Services organization, that help you achieve longer-term customer lives and greater loyalty.
We help you understand the tradeoffs between conversion rates and fraud when you ask for AVS and CVV information during the sign-up process. We know that if you implement billing pre-notifications on a yearly subscription, your chargeback rate will be lower and your customer satisfaction rate higher. These, and other best practice tips, are part of our overall focus on your long-term growth.
Optimizing your business model also extends to the nuances of customer retention. Our patent-pending "Advanced Retention Technology", enables us to increase customer retention rates well beyond any optimized home-grown retry logic that you may have implemented—to the tune of an additional 3-4% monthly. In a subscription billing model, that additional monthly percentage translates into an annualized compound increase of 40%+ for ACLV.