While suppliers can publish their product information for free on their eCommerce marketplace, RangeMe offers a premium subscription which gives suppliers access to additional tools like the RangeMe Verification and Retailer Insights. RangeMe’s revenue growth depends on upgrading suppliers to the paid subscription.
Attracting the best brands: RangeMe strives to give their retailers access to the most popular brands, and the sales team is responsible for getting suppliers to list attractive and emerging brands on RangeMe’s platform. At the same time, the sales team had to upsell RangeMe’s premium subscription, and the sales reps needed a way to offer discounts to close more deals.
High churn rate: RangeMe was losing customers to involuntary churn, and failed payments were the main culprits. RangeMe was finding it difficult to retain their paying customers due to these issues.
Compliance and regulations: RangeMe is currently present in the USA, Australia, and New Zealand. As a fast-growing business, RangeMe was looking to expand to new markets like Europe. Navigating compliance with new regulations such as EU-VAT was a big challenge for the accounting team.
Coupons to the rescue: RangeMe makes clever use of Chargebee coupons to ‘effectively create different price points’ to target trending and emerging brands. Now when a targeted prospect talks to the sales team, they get a much better deal as the sales representative shares a coupon link. The sales team also uses these coupons to run promotional campaigns via email. The ease of creating different coupons has enabled RangeMe’s sales team to close deals with suppliers retailers are looking for faster, and RangeMe has scaled to over 2,000 paying customers. ‘Retailers want to access the best suppliers. So using coupons helps our sales reps to push some of the important suppliers to upgrade to our paid subscription’, Taylor Armstrong, who heads billing operations at RangeMe tells us.
Reducing churn with dunning: The billing team set up Smart Dunning on Chargebee to automate payment retries. This helped recover revenue and reduced involuntary churn. Taylor tells us ‘By decreasing the dunning period, we increased our renewals’.
Simplifying compliance: The Chargebee-Avalara integration helped simplify compliance with tax regulations for RangeMe. Since Chargebee has full-fledged support for EU-VAT right out of the box, the billing team is able to send VAT-compliant invoices, manage tax filing, and comply with revenue reporting regulations.
Improving renewals: With the Chargebee-Salesforce integration, the sales team was able to monitor invoice, subscription, and account information from within Salesforce. This helped them identify customers who were cancelling their subscriptions, and the renewals team ran targeted campaigns to win back those customers!
Smoother plan management: When RangeMe had to revamp their product catalog from three to two price plans, the team had to figure out how to migrate existing subscriptions between plans. Chargebee not only provided the flexibility to easily create a new plan, but also enabled RangeMe to roll out prorated upgrades to smoothly transition their customers into the revised subscription plans.
Flexible subscription updates: Most subscription billing providers that RangeMe evaluated didn’t have the option to modify the billing date for a customer. With Chargebee’s Calendar Billing, RangeMe’s accounting team finds the going easy even when customers want to change their billing dates.
The flexibility in being able to create different plans, being able to have day based billing, being able to create different types of coupons and being able to modify a subscription - there are so many tools that Chargebee provides businesses to make their subscription billing experience exactly what they want it to be
Taylor Armstrong, Head of Support and Business Operations, RangeMe
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