Increased Demand for Self-Service in B2B Subscriptions
A recent study found that 71% of B2B buyers are willing to spend more than $50,000 in a single digital transaction. This shift towards digital channels has accelerated the demand for self-service.
In addition, businesses are looking to achieve higher growth with reduced operating costs. Offering self-service can be an impactful way of doing more with less; scaling with technology versus headcount is particularly significant as subscription businesses often deal with a large evolving customer base and frequent subscription changes.
Finally, businesses want to understand and analyse customer behaviour and preferences to offer them a more personalised experience, tailored solutions, and pricing to capture more market. They’re achieving this by leveraging self-service with AI and all the recent advancements in data analytics.
The Benefits of Integrated Self-Service for B2B Subscriptions
An integrated self-service platform can help businesses to improve customer satisfaction, reduce churn, and increase revenue. Here are some of the benefits:
- Improved customer satisfaction: Self-service can help businesses to provide a more convenient and efficient customer experience. This can increase customer satisfaction, leading to repeat business and positive word-of-mouth.
- Reduced churn: Self-service can help businesses to reduce churn by giving customers the ability to manage their subscriptions themselves. This can free up customer service representatives to focus on more complex issues and give customers a sense of control over their subscriptions.
- Increased revenue: Self-service can help businesses to increase revenue by enabling them to upsell and cross-sell products and services. For example, customers managing their subscriptions through a self-service portal may be more likely to purchase add-on products or services.
If you missed the webinar, watch the recording on-demand here:
The webinar featured Bish, Director of Solutions and Innovation at PhiX Technologies, and Steve Wolsfeld, AE at Salesforce Revenue Cloud.
The hosts discussed the benefits of integrated self-service for B2B subscriptions with a live demo from Muthu Murugan, Director of Product Management, Revenue Cloud Solutions at Salesforce, who showed us Salesforce Subscription Management in action using a real-life business scenario.
Why You Should Watch
If you want to improve customer satisfaction, reduce churn, and increase revenue, watch this webinar. You’ll learn how integrated self-service can help you achieve these goals and how Salesforce Subscription Management can help you implement a successful self-service strategy to create, manage, and track subscriptions efficiently for profitable growth.
Salesforce Subscription Management
Salesforce Subscription Management is a powerful solution that can help businesses to achieve the benefits of integrated self-service for B2B subscriptions. Salesforce Subscription Management offers multiple features that can help companies to improve customer satisfaction, reduce churn, and increase revenue.
These features include:
- A unified view of subscriptions: Salesforce Subscription Management provides a unified view of all subscriptions across an organisation. This allows businesses to track subscriptions across multiple channels, and it also allows businesses to see how subscriptions are performing.
- Self-service portal: Salesforce Subscription Management includes a self-service portal allowing customers to manage their subscriptions. This portal can be customised to meet the specific needs of an organisation’s customers.
- Headless Integration: Easily integrate with any front-end experience, giving you complete control over the user interface allows businesses to provide a seamless customer experience across all channels.