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Recurly Adds New Dashboards to Subscription Management Platform

subscription

Subscription management firm Recurly has added new dashboard reports to its platform.

The reports have built-in benchmarks based on trends of more than 60 million subscribers on Recurly. They bring benchmarking data and analytics to merchants, letting them quickly identify opportunities, make informed decisions and drive growth in the subscription landscape, the company said in a Wednesday (April 17) news release.

“In the ever-changing world of subscriptions, brands constantly analyze their performance metrics and want to understand, ‘Is this good? How do we compare to our competitors?’ Competitive edge lies in knowledge, and benchmark data is the secret ingredient that can shape and accelerate your growth strategy,” Recurly Chief Product Officer Jonas Flodh said in the release.

According to the release, the new benchmarks are now part of Recurly’s reporting and analytics suite, allowing merchants to analyze key metrics and understand performance against industry cohorts across specific timelines, offering insights that reveal how similar industries perform.

“This intelligence combined with Recurly’s playbooks and flexible functionality fuels merchants to drive more accurate forecasting and long-term growth,” the release said.

Elsewhere in the subscription space, PYMNTS wrote earlier this month the growing number of consumers who maintain more than one subscription, and the rise of tools designed to help people track these memberships.

For example, Visa’s new Subscription Manager tool consolidates key aspects of subscriptions, allowing cardholders to easily keep track where their card details are stored, identify recurring payments, and stop them if necessary.

“For multimodel subscribers who account for a substantial portion of the subscription market, these tools are especially valuable,” PYMNTS wrote.

Findings from “The Impact of Subscription Models on Consumer Choice,” a collaboration between PYMNTS Intelligence and sticky.io, show that almost half of all subscribers fall into this category, with subscriptions spanning a range of services or products across multiple verticals.

“Multimodel subscribers also make up half of loyal customers, identified as having the highest total lifetime value (LTV) across retail subscriptions, averaging over $2,500,” that report said. “This highlights how meeting the preferences of this subscriber segment can significantly boost a provider’s revenue, as highlighted in the study.”

In fact, the convenience offered by digital tools lets multimodel subscribers efficiently navigate their array of subscriptions, from streaming services to meal delivery kits, to beauty boxes. These tools allow users to set preferences, receive notifications, and manage payments seamlessly on a single platform, improving their overall subscription experience.