Maximizing Monthly Recurring Revenue: Strategies and Best Practices
A recurring revenue model is a long-term arrangement with customers, in which the business provides a product or service on a regular basis. Each unit of that product or service can be billed one time and then periodically, as opposed to onetime fees charged at the time of purchase. In addition to being an increasingly common type of sales model, recurring revenue has also become critical for companies looking to increase their monthly income stream and lessen their dependence on sales-based models such as transactions or project-based contracts. However, maximizing your monthly recurring revenue requires careful strategy and execution in order for it to succeed. Read on for some expert advice!