Over the last 15 years, Recurly has been lucky to partner with some of the most innovative brands in the world to help them build and grow their subscription businesses. They are all united by their passion and drive to create unique experiences and products for their customers. Recently there has been a clear evolution in our industry - subscribers now have more options and higher expectations. In addition to great products they expect frictionless and personalized brand experiences. This year Forbes found that 81% of customers prefer companies that offer a personalized experience.
It wasn’t always this way, the first subscriptions were really just utilities. Your gas bill, your rent, maybe the newspaper or the milkman. This utility model became the blueprint as more and more companies started to offer recurring purchases of their products and services. Those first subscriptions were really just products offered as “utilities” that billed monthly. It was purely transactional.
We’ve moved decidedly into a new phase - where subscribers look for experiences over transactions. It is not about “owning” a product, it is about access and lifestyle. Meeting the moment, established brands like Alaska Airlines are launching membership programs to cultivate lifelong customer relationships. At the same time, subscription-first companies like Scentbird, and FabFitFun rely on clear, proactive insights to uncover new opportunities and tackle the complexities of scaling. And as consumers, we have all begun to adapt to this and are personalizing which subscriptions we want to use and how. This creates an enormous opportunity for brands, but also exposes their need for an experienced and trusted partner to navigate the road ahead and exceed customer expectations.
Today we are announcing a new brand and platform vision, marking our own evolution, as the next generation of brands realize the power of subscriptions to grow and connect with their communities. Our new brand illuminates the path for merchants, and establishes Recurly as the guide they need to go the distance. It is a reflection of the energy and momentum that inspires us everyday working with innovative global brands. We are on a mission to help merchants navigate the subscription industry, stay ahead of the competition, and provide amazing subscriber experiences.
Recurly is renewing its commitment to helping brands become subscription experts. Since 2009, Recurly has been leading the way for subscription payment systems as a single source of truth for all things subscription. Our next chapter is about helping brands get ahead of what’s next, whether that be delivering incredible subscriber experiences, providing easy tools to help merchants navigate into new markets, or even creating custom solutions for their customers. Our vision is to create a platform that allows subscription leaders to push the pace and to build, scale, and stay ahead of consumer trends. We delivered on this vision earlier this year with multiple new innovations, including the release of industry benchmark reporting, and continued with a new subscriber engagement integration.
It is why so many industry leaders rely on Recurly, and how the merchants we partner with earn an average ROI of 14x. The experience we’ve built over years of helping product, finance, and growth leaders capture billions of dollars is why brands chose to grow and stay with Recurly.
We are excited to reveal Recurly Compass, our vision as the first step in the journey for subscription managers who need intelligent data and insights to chart the course for their brand. Recurly Compass was developed with our extensive background in subscription management and recurring billing. It is a suite of AI-driven tools that deliver personalized and proactive insights, empowering subscription teams to swiftly identify and act on new growth opportunities. Recurly Compass uses AI to reveal tailored insights to each subscription business, guiding brands to their next best action. With conversational assistant capabilities, a focus on personalization, and accelerated business insights, Recurly Compass will bridge the gap between technology and the evolving needs of subscribers.
With access to these new insights and dashboards, brands will pave the path for the next generation of subscriptions. Using intelligent insights, personalized dashboards, and AI powered recommendations, brands will have the data they need to confidently build for the future and become leaders in their industries.
We are humbled to partner together and see how you will all innovate, grow, and change the subscription experience for all consumers.
