Magazine subscription management made simple with EarnBill – A customizable & affordable SaaS platform in 2024

Today, we are in the era of digital evolution, where emerging technologies enable newspaper & magazine subscription management to transform the way of doing things, develop processes, improve the efficiency of various operations, and finally turn business ideas into reality for overall company growth and the customer’s benefit.

The EarnBill SaaS platform (a billing & revenue management system) can be path-breaking for newspaper and magazine businesses looking to simplify daily subscription billing operations and grow revenue in this competitive world. Not only that, EarnBill SaaS allows you to generate invoices on weekly, bi-weekly, monthly, quarterly, half-yearly, and yearly basis, followed by collecting payments from customers automatically.

Traditional Way Of Magazine Subscription Management:

Let’s talk about the traditional ways of managing magazine subscription management & their implicit challenges without “A Specialized Billing & Revenue Platform“.

• Manual Handling:
  The traditional model of subscriptions, membership management and other business operations involves manual procedures like keeping & maintaining data records or things in paper forms, computer spreadsheets and taking orders over phone calls. However, it becomes challenging when the business grows due to inefficiencies and mistakes.

• Flexibility Constraints:
  In handling things manually, we don’t get much flexibility in offering different subscription options like print, digital, plan & bundled items. Further, without a flexible system, the companies would find it challenging to bring/implement new business ideas in less time for overall growth. As a result, things turn out unmanageable and require more cost and time.

• Difficult Payment Management:
  It is another crucial area of any business for managing payments effectively. In the newspaper and magazine business, subscription use cases require manual intervention in renewals, cancellations and failed payments. Considering all these, it becomes challenging to handle large data volumes.

• Scattered Data:
  In the traditional approach, we see that the various information like customer accounts, subscriptions/plans, invoices, and payments are scattered in different places and forms, making it hard to find information for any analysis as and when needed. It further causes operational inefficiencies and scalability of the business.

As we know, the conventional business model of print media like newspapers & magazines usually depends on the circulation volume of published copies regularly and advertising content to promote something. These business use cases are nothing but a recurring & one-time revenue model where customers pay periodically. Advertisements could be one-time or periodic activities. In today’s world, print media has evolved and is looking to add new dimensions of business offerings for growth.

Let’s take an example of online stores offering various online subscription services like Business Magazine, Trade Magazine, and NewsPaper. Considering today’s online business model, the company charges customers regularly as per the subscription schedule for consecutive copies of a magazine or a newspaper. To achieve that & overcome involved challenges/limitations in this sector, EarnBill brings such a SaaS platform which is customizable & affordable with a ton of features to streamline the process, manage accounts, and update payment information, reducing their workload and improving business growth.

The EarnBill SaaS provides a digital magazine subscription management solution that perfectly fits as the comprehensive, flexible, cost-effective billing software for magazines, publishers, membership management, and subscription billing. Let’s look at some well-aligned features with newspaper and magazine business models.

• Flexible Subscription Plans & Bundles:
  You can easily create & manage unlimited subscription plans (print, digital, combo) with flexible trial periods and discounts as introductory offers. The EarnBill comprehensive product catalogue offers various out-of-the-box features like built-in pricing models with customizable options, assets management and user-defined fields to capture additional information about multiple entities without any extra development.

• Extensive Customer Management:
  It allows you to create & manage account types and customers while capturing additional information based on your requirements. For example, you can define diverse account types like Corporate Customers, Government Organizations, Employees, and VIP Customers to create separate groups for each customer type. Further, you can also capture customers’ payment details at the customer level for subscription auto-renewal. This way, businesses can manage consumer accounts more effectively. 

• Automated Billing:
  The EarnBill SaaS recurring billing module offers a bunch of capabilities for the billing process, like generating & sending invoices and then sending a reminder notification to customers before the due date. No matter what the customer’s billing cycle is, you can configure a built-in job scheduler plugin to run the billing process daily, and the system automatically picks & processes all the eligible subscribers for sending invoices accurately according to their billing cycle, which could differ from customer to customer. Additionally, EarnBill SaaS Billing enables business owners or administrators to preview the result of the billing process and get valuable insights into total invoiced customers along with revenue trends, which allows data-driven decision-making.

• Automated Payment & Renewals:
  The next crucial part of the subscription workflow is to collect payments automatically and regularly. EarnBill further allows you to accept customers’ payment details securely at the time of the first subscription, which helps the system to process customers’ subsequent payments automatically as per a defined frequency (the period could be monthly, quarterly, or yearly) to handle auto-renewal for subscriptions. The platform offers payment integration through various gateways. Not only this, EarnBill is flexible enough to integrate any other payment gateway of your preferred choice.

• Access to Self-Service Portal & Mobile App:
  The EarnBill SaaS provides access to its web portal and mobile app for empowering subscribers to view their accounts, invoices, and payment history, make payments, and change subscription plans. It helps companies to reduce the customer support burden & cost. Further, it improves customer experience by finding a convenient self-service option and ensuring engagement with targeted promotions.

Benefits of SaaS for Newspapers & Magazines:

Here are the key benefits EarnBill SaaS brings that you can rely on for your newspaper and magazine subscription management.

• Increased Efficiency: 
  The user-friendly interface and its simplified approach to subscription management with well-suited functionalities/capabilities reduce errors and free up the workforce for higher-value activities by automating tasks like billing, payment, reminder notifications, and more. 

• Scalability: 
  The platform provides scalability as your business grows, which means accommodating an increasing subscriber base reduces your cost over traditional on-premise software that requires upgrades.

• Data Insights: 
  You get various administrative reports like Accounts Receivable, Collections Balance Details, Ageing Balance Details and a few more. These reports can help businesses gain better insights into their accounts receivable data. Further, the information can also help to identify improvement areas and make corrections for better business decisions considering what content resonates best, allowing for targeted marketing and content creation.

• Reliable Support: 
  The most crucial aspect of any software/system is whether we get flexibility & good support or not. – EarnBill SaaS is the platform that provides adaptability for incorporating changes according to your business needs and ideas. Further, it offers a dedicated specialized knowledge team to support your subscription billing operations and help resolve any issues.