In Q2 2018, B2B subscription services outperformed B2C for the first time ever, according to the latest findings in the Subscription Commerce Conversion Index (SCCI). So what changed in Q2 2018? It all comes down to the features that subscription services provide.
Customers are more eager to bring their business to providers that grant them increased control over the terms of their subscriptions, and to those with shorter commitment durations. PYMNTS research indicates that features like plan options and the ability to make changes are most common among the 20 merchants with the highest SCCI scores, and least common among the 20 with the lowest scores.
What’s more, other types of features, like plan cancellation and messaging services, are increasingly playing an important role. As more companies implement these features, and offer customers 11 percent faster subscription sign-up processes, the average SCCI merchant score rose to 64.0 in Q2 2018, a slight increase from 62.9 in Q1 2018.
In the Q2 2018 Subscription Commerce Conversion Index, PYMNTS examines 47 attributes of 158 different merchants, focusing on the speed and ease of signing up for a new subscription service. In doing so, the report aimed to gauge the quality of consumers' interactions with their providers, and discover what consumers are really looking for in a service.
Key findings in the Q2 2018 SCCI report include the following:
- 85 percent of service providers offered a mobile optimization feature
- Business service providers had the highest average SCCI score of any sector at 69.2
- The least popular feature is rewards programs, offered by only 11 percent of merchants
To find out more about what it means to be a subscriber in 2018, download the Q2 2018 SCCI report here.