Subscription billing can be fairly simple and straightforward: charge X for a trial period, then charge Y for a subscription that renews every 30 (or however many) days. But, what if you want more flexibility? What if you want to offer different combinations of access, perhaps involving many products or options, a la carte style? What if you want to vary your offers periodically to find which ones work best? If you are a tech-savvy merchant that would like more freedom and flexibility to vary your offers, Dynamic Recurring Billing might be right for you.
With Dynamic Recurring Billing, there is no need to spend time creating a bunch of static price points for every possible offer. Instead, you specify ranges for pricing and trial/subscription lengths, within which all of your subscription pricing will fall. Then you dynamically generate the specific purchase details with each consumer that checks out. Dynamic recurring billing works best for businesses with:
- A Shopping Cart, where consumers add and remove multiple subscription offers, or product options, prior to checkout. Think about buying phone service, where you can add multiple lines, insurance, phone accessories, etc. Dynamic Recurring Billing ensures accurate billing for both the initial sale, and future recurring paments.
- Interest in varying offers to learn which ones convert best. If certain offers aren’t performing as well as you think they should, try testing a new offer over a specific time period, or targeted to a specific group of consumers. Still not converting optimally? Vary it again tomorrow. You have the flexibility to mix and match in search of the optimal pricing that moves revenues up and to the right.
- Multiple subscription pricing options. If you offer a large number of subscription products, with many different combinations of features – where all of your consumers could conceivably have different subscriptions (similar to the phone service example above) you will virtually eliminate the time spent creating separate price points for every imaginable offer combination your consumers may choose when customizing their subscription.
Implementing Dynamic Recurring Billing requires you, or someone technical on your team, to set up an API request on your checkout page. The request will notify SegPay on the fly of the specific price(s), trial, and subscription length(s) assigned to each consumer checking out. SegPay responds with an encrypted token for you to drop into the URL that then takes your consumer to our payment page, ensuring he/she has presented the correct offer.
Dynamic Recurring Billing was designed for any business that offers subscription products. It includes support for trial periods, as well as dynamic multi-currency (so consumers can pay in their local currency if they choose). To see if Dynamic Recurring Billing is right for you, please reach out to us at [email protected].