Maximizing the Value of Recurring Billing

THE TOOLS, KNOWLEDGE AND EXPERIENCE
Recurring billing can be a powerful source of revenue for products or services that are delivered periodically or repeatedly.  When implemented correctly, a recurring billing strategy can substantially increase the number of consumers who try your product or service, as well as the number of consumers who continue to use it.

Litle & Co.’s payment processing platform was built from the ground up to drive recurring billing, so it offers all the tools, methods and structures our customers need to be successful.

But that isn’t enough.  To take full advantage of recurring billing, you need our Merchant Services Group’s knowledge of Visa and MasterCard regulations and their experience helping companies just like yours.

HOW LITLE & CO. CAN HELP

Our Merchant Services Group can help you fine-tune your recurring billing program in the following areas:

Maximizing trial

The first billing event is always the most critical. To encourage as much trial as possible, you need to:

• Fine tune your offer to make it as attractive as possible.
• Process authorization transactions in real-time so that you can offer real-time feedback to your customers.
• Validate the account even if you don’t intend to bill until a later time.
• Give your customer payment choices such as PayPal.  More payment options mean more payments.

Minimizing interruptions

Convenient, effortless billing is a key aspect of the product you are offering to your customers.  Interruptions can lead to cancelled service.  To avoid needless interruptions in your recurring billing series:

• Recycle authorizations based on BIN analytics rather than contacting customers and asking for alternative forms of payment.
• Use Visa and MasterCard’s Account Updater to increase the success rate of series billing events.
• Don’t terminate customer accounts on the first failed billing event.

Saving cancellations

A well-run save unit can provide substantial revenue lift, but not if ‘saved’ customers simply turn to their issuing bank and ask for chargebacks.  We’ll show you ways to monitor, measure and predict chargebacks so that you can maximize the value created by your save unit.