If your business had the choice between one million lifetime customers or two million one-time transaction customers, which would you choose? Selecting the former guarantees a recurring revenue stream for years while the latter only guarantees revenue for that individual transaction. Sounds like a no-brainer, right?
There are many factors that contribute to a successful recurring revenue cycle for your business, from product packaging and pricing to configuring existing systems and operations. There is one particular metric that is especially critical to understanding the success or failure of a recurring revenue program. So important, in fact, that more than 75% of North American senior executives say it is a highly or extremely valuable indicator of success.