Tuesday, 1 August 2017

Automatic license renewals: twenty months later – Pippins Plugins

About twenty months ago, while sitting on a couch in Auckland, New Zealand, my team and I flipped the switch to enable automatic renewals for AffiliateWP. Two months later we did the same thing for Easy Digital Downloads and Restrict Content Pro. This was a move that we had been working towards for nearly a year and it’s one that we believed would fundamentally change the position of the company over the next one to two years. Now that it has been twenty months, maybe we can answer the question: were we right? Did it make a significant impact for us or was it all futile hopes? Historically we, like many other online product companies, have struggled with low renewal rates. All of our products are sold with annual licenses that should be renewed each year so long as the products are in continued use. Renewal revenue is a critically important part of growing any online business because it reduces the expensive process of customer acquisition. Your revenue isn’t purely a factor of how many new customers you obtain, it’s a combination of your new customer acquisition and your existing customer retention. If you have great customer retention, you can grow your annual revenue
Source: https://managewp.org/articles/15765/automatic-license-renewals-twenty-months-later-pippins-plugins

source https://williechiu40.wordpress.com/2017/08/01/automatic-license-renewals-twenty-months-later-pippins-plugins/

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