According to a recent report by UnivDatos Market Insights, the subscription billing platform market is projected to grow over 246 billion by 2025. Subscription billing platform is an ever growing genre with regular feature launches that always up the game. Recently, Muvi Billing added ‘Subscription Analytics and Reporting’ to its list of features. Users get aware of features when they suddenly see an update that makes the billing even more smoother. Marketers see a direct result of introduction of new features by tracking analytics or achieving goal conversion targets through Google Analytics. However, we present Muvi Billing’s feature in a different light, and in this blog, we take you through the concept of usage of subscription analytics and reporting in a billing platform.
Subscription Analytics and Reporting
Through subscription analytics and reporting, one can get 360-degree visibility of their subscription model . It gets easier to track everything from one place, payment metrics to customer behavior. One can also create customized reports in a sharable format. All of this leads towards higher revenue generation and puts the organization in a position to make data-driven decisions. Here are the three key factors of subscription analytics and reporting –
Monthly Recurring Revenue (MRR) has always been a benchmark to measure an organization’s success. With this feature, one can track the average revenue per subscription, lifetime value, revenue for specific regions, and more. This feature uses predictive intelligence on various factors and produces relevant reports.
Customer activity tracking for information like what they are buying in real-time etc is very important. Metrics like expenditure patterns, when and how etc helps organizations in tracing the trends, which in turn helps in determining whether to remarket their campaign, give discounts, or even for dropping the product.
Billing Efficiency Metrics
It is important to go beyond just MRR and look into different aspects of billing such as dynamic payment methods, payment percentage, number of e-bills issues, etc. All of this will help the organization in tracking which payment gateway is good and popular, and if there’s any issue with any payment gateway, tracking and resolving gets easier.
Muvi Billing is not limited to just this one feature and offers a lot of dynamism in its functionality. Boasting of nearly 20+ payment gateways, smart record-keeping, and career-grade security, Muvi Billing automatically becomes a smart, efficient and the only choice of businesses looking to upgrade from their existing billing systems or add a billing system to their businesses. Give Muvi Billing software a go by opting for the no-strings-attached 14-day free trial and experience excellence first hand, the Muvi way!