Your startup or SaaS company has signed up 1000 or more clients. Congrats!
As you fine tune your sales machine you are always looking for ways to increase your MRR (Monthly Recurring Revenue). The traditional positive MRR delta levers available to you are:
- New MRR (Hunting): The increase in MRR from the new clients you can bring in to your business. Since this involves ‘hunting’ for new clients it is also referred to as the ‘New MRR’.
- Expansion MRR (Farming): This is the increase in MRR by an upsell or price increase. This kind of increase is also referred to as the ‘Farmer MRR’ because the revenue is generated from existing clients.
However, an often-overlooked method of expanding MRR can be realized by successfully implementing a price upgrade on your existing subscriber base. If you decide to expand MRR by increasing your subscription pricing - it becomes important for you to ensure that your existing subscriber base can naturally and non-disruptively transition to the new pricing.
Most subscription billing platforms are unable to manage this transition elegantly. Nobody wants the existing subscriber base to receive emails about overdue payments and manually micro managing each individual subscriber can be time consuming and error prone.
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Ideally, the existing customers would receive ample notification of the price change. And then gracefully transition to the new price at the time of their next payment.
Clients of Fusebill can now take advantage of a new feature we released - Apply Bulk Pricing Updates, to not only handle future signups, but also help the current subscriber base to transition in the most elegant way.
Here are the details on how Fusebill’s Bulk Price Update feature works:
Applying Catalog Price Changes to your Existing Subscriber base:
Step 1: Make price adjustments in your catalog for a specific Plan
Step 2: Access the Subscribers section for the Edited Plan
Step 3: Select the subscribers that you would like to have adopt the new default catalog price
Step 4: Process and monitor your Bulk Catalog Price Update job
Once processed the existing subscriber base will have the new catalog price automatically applied to their existing subscriptions ready to be used at their next subscription recharge date.
Projected invoices will reflect the new pricing on your customers - you can access Fusebill’s powerful MRR Reporting module to monitor how the Expansion MRR impacts your company’s bottom line.
Fusebill simplifies recurring billing and provides you the tools to take your business operations to the next level.
Product Architect, Fusebill
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