At Recharge, we’re constantly working on new enhancements and functionality to best support the needs of the 20,000+ merchants that partner with us. We’re constantly launching new features, enhancements, and offerings to help maximize subscriber LTV, and want to ensure there is transparency in what we’ve released and what we’re working on.
To provide that visibility, yesterday we held our recurring What’s new with Recharge webinar, where we highlighted new solutions for our merchants and partners to utilize. Not able to attend the webinar? You can view it on demand now, or catch up on the latest news by reviewing the highlights from the webinar below.
The main takeaways
If you missed the webinar, here are the top pieces of news we shared:
- Subscriptions remain our core: While we’re working to add new offerings for our merchants, we still continue to enhance our subscription offering with new enhancements and features, such as gifting subscriptions and enhanced Klaviyo metrics.
- Revamped Analytics dashboard: Your all-new view into program and customer data. You can now track the performance of your subscription and retention initiatives, forecast future orders and revenue, and delve into your customers’ journey to improve your retention strategy.
- Iterate and test with Flows: Our newest offering, Flows, helps brands automate, test, and refine crucial touchpoints along the customer journey. Get started with prebuilt templates that help you prevent churn, upsell customers, and more.
- Get involved and stay in the know with Recharge’s Product Roadmap: Our product team isn’t slowing down, and we’re working to ensure better visibility and access to our launches. Get involved in Early Adopter programs and see what has launched on the Recharge Product Roadmap.
Enhanced subscription features
Subscriptions remain our core offering at Recharge, and we’re committed to continuing to enhance this product line. During the webinar, we highlighted a number of updates and enhancements to our subscription offering, including:
- Product Subscription Plans: Quickly manage products at scale, down to the variant level, boosting revenue and reducing operational costs.
- Variant-level pricing and discounting: Enjoy greater flexibility and control over your subscriptions by configuring properties for product variants.
- New metrics, data, and Quick Actions in Klaviyo: Create a more personalized customer experience with Klaviyo’s new metrics, customer properties, and Quick Actions.
- Subscription gifting: Allow your customers to gift subscriptions to their friends and family, plus enable the gift recipient to manage the subscription entirely themselves.
Our enhanced Analytics dashboard offers a comprehensive view of key store metrics, right on your merchant portal homepage, allowing you to analyze revenue trends, customer interactions, and key performance indicators with ease.
- Purchase activity: See your gross revenue breakdown day-by-day, encompassing all Recharge-related product purchases, including subscription products bought at checkout, recurring subscription purchases, and add-on items included in recurring subscription orders.
- Subscribers and subscriptions: Understand growth and churn among your subscribers.
- Performance by product: Review the performance of your products at a variant level to understand what’s performing well (or what’s not).
- Customer portal actions: Track actions made by your customers, such as skips, swaps, and discount applications.
- Subscription retention by cohort: Monitor retention per cohort over time to enhance customer engagement.
With Recharge Loyalty, subscription-first merchants can now incentivize customers with personalized benefits and rewards, without the hassle of point calculations. Loyalty was built with your unique customer journey in mind, focusing on a variety of ways to increase LTV. You can set up just one use case or try them all in tandem—it’s entirely up to you.
- Subscriber incentives: Offer tailored, subscriber-exclusive benefits and rewards that increase customer value and retention.
- Paid membership programs: Provide customers exclusive access to incentives in exchange for a fee, keeping them engaged and eager to return.
- Cash-back promotions: Encourage repeat purchases and increase satisfaction by offering cash-back incentives instead of discount codes.
Merchants need to be able to quickly automate, iterate, and test programs throughout the customer journey, and Flows is our automation layer to help our merchants do just that. With Flows, merchants can quickly set up A/B tests to see what incentives reduce churn, cross-sell new product lines, and prevent churn with flexible offers based on churn reasons.
With Flows, you can:
- Deploy a variety of trigger logic to automatically add a customer to a Flow
- Personalize conditions to determine which customers enter each Flow
- Conduct A/B testing to fine-tune your offerings
- Create unique experiences and offers within each Flow
- Access real-time data and insights for performance optimization
We’ve launched three prebuilt Flow templates for common scenarios, such as surprise and delight, targeted upsell, and active churn recovery, and will soon launch passive churn prevention templates.
Surprise & delight
Provide proactive incentives (such as free gifts) to your customers to increase retention, and A/B test those incentives to determine which are most effective. You can also test the effectiveness of different incentives at different points during the customer journey, determining which offer is moving the needle to optimize customer retention.
Offer a discounted product to specific customers at targeted points in the customer journey to increase LTV. You can test the engagement of different discounts and products at different points in the customer journey to optimize AOV.
Active churn recovery
Leverage customer cohort data and order insights to create effective strategies for actively reducing churn. By tailoring win-back solutions to customers on the verge of leaving, you can mitigate churn, increase customer satisfaction and loyalty, and ultimately boost profitability.
All together, Flows allows merchants to move with greater speed and agility to deliver the best shopping experiences for customers. Flows has started rolling out in stores now and will continue to roll out in the coming weeks.
To explore all these offerings in more detail and stay up-to-date on our future plans, visit our Recharge Product Roadmap. Here, you can review everything we’ve launched and join our Early Adopter programs to get early access to new launches before they are generally available.
Watch the full recording of the webinar on-demand to hear directly from our team and learn about new opportunities to retain your customers and grow your subscriber LTV.