In a strategic move to reshape the consumer subscription landscape, Recurly, a leading subscription management and billing platform, announces a partnership with Redfast, the industry leader in subscriber personalization and engagement. This collaboration brings the power of two platforms together to create a lifecycle engagement tool that drives proactive, personalized in-app experiences to keep subscribers engaged and increase brand loyalty.
“Predicting and acting on subscriber acquisition and retention opportunities are top-of-mind for consumer subscription leaders. Our partnership with Redfast couldn’t be more timely,” says Joe Rohrlich, CEO at Recurly. “Investing in a robust lifecycle engagement strategy is essential for subscription businesses. Combining subscription billings and lifecycle management, powered by Redfast, we offer brands a holistic approach centered on subscriber lifetime value, including acquisition, retention, and growth strategies.”
Convert subscriber engagement to revenue in 1-click
With voluntary churn rates causing concern across the subscription industry, the Redfast and Recurly partnership emerges as a solution for merchants seeking comprehensive, effective solutions. The integration of Redfast’s real-time user engagement capabilities with Recurly’s robust subscription billing platform promises to revolutionize how merchants minimize churn, enhance user experience, and foster long-term loyalty.
“This partnership empowers subscription professionals with the combined might of Redfast and Recurly to elevate subscriber management,” says Rajeev Raman, Founder and CEO at Redfast. “By harnessing the combined strengths of these platforms we can unlock incredible, personalized in-app experiences for end users that ultimately leads to significant improvements in churn rates and subscriber engagement, paving the way for sustainable growth.”
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Engaged subscribers are more loyal and profitable. According to Recurly’s recent State of Subscriptions research, 65% of consumers would likely reconsider canceling a subscription if they can customize their plan to their needs, and 26% of consumers will stay subscribed for another four to six months if they are given what they want. A brand’s best chance to get subscribers’ attention is when they’re actively using a product. From cancel-save prompts to upsell initiatives, Recurly’s lifecycle management tool enables leading brands, and the professionals who run them, to grow with insight-driven strategies for improving churn rates and fostering differentiated customer engagement. Here’s what the solution enables:
- Predict and prevent churn: Predict users likely to cancel and create personalized cancellation flows to save them.
- 1-Click calls to action (CTAs): With only 1-click from subscribers, automatically make changes to their subscription in Recurly (i.e. add-ons, pause, change plans, apply coupons.)
- Personalized onboarding of new users: Guide new users to discover content and features in an intuitive, contextual and personalized manner resulting in increased retention and engagement.
- Agile and independent growth marketing: Growth and product teams can drive engagement and subscriber journey prompts without burdening engineering resources.
- Real-time and cross-platform continuity: Deliver real-time prompts based on actions and segments across desktop and mobile web, iOS, Android, Apple TV, Roku, Fire TV, and Samsung TV. Unique support for smart TV ecosystems.
- A/B test and analyze what’s working: Take the guesswork out and easily A/B test unlimited variations to drive conversions and optimize revenue.
SOURCE: Businesswire