Gone are the days when your customer bought something, you delivered an invoice, the customer paid, and the transaction was complete. Now your customers are always “on”— expecting on-demand consumption, continuous replenishment, and subscriptions to your products and services. They are interacting with every facet of your business—quote, contract, fulfillment, provisioning, billing, and payment processing—with increasing velocity. They are buying the customer experience across the entire business, not just for the product or service of interest. We refer to this phenomenon as the Continuous Customer™, and your business must be designed and operated differently to address this new reality.
We help our clients understand current trends and common pitfalls with the Continuous Customer and recurring revenue businesses. But we don’t stop there. We dig in and review current and forward-looking business strategies, customers, products, operating processes, and technologies. We walk clients through a six-point health check of their customer value cycle; this creates a shared view of failure points, issues, and improvement opportunities that stand in the way of achieving the organization’s Continuous Customer goals and its recurring revenue business models. Ready to learn more? Contact us today.
Continuous Customer Journey Challenges
What previously worked to drive your business forward is now a hindrance. You have spent years—often decades—organizing people, processes, and systems. You did this to optimize for the unit-based economy, using a transactional sequence of marketing, sales, operations, and finance. However, these robust internal ecosystems need to adapt. Traditional approaches to order management, billing, sales, and service delivery no longer work. The old habits of organizing for the need of the business must be replaced with new habits of organizing for the appetites, needs, and expectations of the Continuous Customer.
We’ve uncovered twelve major symptoms of a broken recurring revenue business—which is one that cannot scale and will eventually erode profitability because it’s not designed to support this concept of the Continuous Customer. Because of the far-reaching and cross-departmental complexity of these symptoms, it’s not always clear what the root causes are, where they reside, and who is best suited to address the problem. Clients often can articulate one or more of these symptoms and, on further analysis, realize that all twelve apply.
Navigating these symptoms and increasing your recurring revenue is an undertaking that Navint knows well. In fact, Navint is one of few management consulting firms that has a fully-dedicated practice with deep domain experience and a proprietary, continually-evolving methodology, which help organizations navigate the journey to success with recurring revenue, subscription business models, monetization strategies, and Continuous Customers.
Do you need help with your recurring revenue business and moving to a Continuous Customer model? Contact Us today.