Avangate Releases First Digital Commerce Benchmark To Track Trends
Avangate, the modern digital commerce solution provider trusted by thousands of software, SaaS and online services companies to grow their business worldwide, today released findings from its first Digital Commerce Benchmark. The new report tracks global consumption of digital services to identify regions with the fastest growth and greatest contraction. Careful analysis of the data and correlation with external factors provides actionable insight for clients and digital services providers to help direct their efforts.
“Our mission is to support and stimulate global commerce for digital services from global payment processing, tax and compliance to automated billing, renewal and customer engagement,” said Michael Ni, CMO and SVP of Products at Avangate. “We believe that by identifying patterns and drawing correlations from the data to current events, we can help our clients make smart decisions that deepen relationships with existing customers and extend services where new opportunities arise.”
The Delicate Balance of Online Services & Global Economic Indicators
In the global digital services economy, recurring revenue and subscription models are the gateway to profitability. It is imperative that companies provide seamless customer experiences—offering multiple payment options and personalized marketing touchpoints, and complying with local regulations is fundamental. Because online services can be turned on and off instantaneously by a customer, they act as real-time indicators into buyer behavior and tend to reflect the overall health of global markets. Understanding these patterns gives online services companies the opportunity to redirect efforts to different regions or double down on campaigns where the opportunity is emerging. With the right platform in place, digital services can be delivered quickly to new regions and campaigns can be adjusted in real time as the environment changes.
Avangate is able to continuously track and benchmark these changes, empowering business decision makers to adjust their strategies based on the rise and fall of online services’ consumption globally. By correlating the data with sociopolitical and economic factors that are happening in various regions, businesses have a better gauge on what markets are surging or trailing. The ability to extend online services to a region that is surging and adjust marketing efforts for new opportunities, as well as shift resources from regions that are contracting, becomes a critical competitive advantage.