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Avangate Acquires 2Checkout to Expand Payment Flexibility and Broaden Market Reach
Combined company will bring a unique combination of eCommerce and subscription management solutions to market through various payment models across the globe.
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Avangate Customer Success Stories
Absolute - Leading Security and Management Software Vendor
Avangate's Commerce Platform and Expertise Leveraged to Increase Revenue and Improve Retention
"Having strong Consumer commerce operations is even more important today given their recurring nature. Avangate has helped us to optimize and scale our Consumer business more quickly and cost-effectively. They are a true partner and have bolstered our SaaS commerce and business expertise to help us achieve our business and financial goals. As a result, we have implemented strategic initiatives that have increased our renewal rates, and will allow us to enter into new markets quickly," Brian Johnson, Absolute’s Area Vice President, Consumer.
Absolute® Corporation (TSX: ABT) is the industry standard for persistent endpoint security and management solutions for computers, laptops, tablets and smartphones. More information on absolute.com.
Project: Increasing Trial Conversion Rates 5 Fold
The Context & Objectives
The major business challenge Absolute was facing was related to the difficulty of the users to “try” the product. Prior to moving to Avangate, Absolute was using a different trial model which posed a series of difficulties including a mandatory activation of the software for access to trial which gated most of the conversions and a post-activation trial nurture campaign. As a result, their trial conversion rates were relatively low.
Absolute started working with Avangate and moved from the legacy trial model to a subscription-based model supported by Avangate’s Digital Commerce platform. The implementation of a true subscription model removed the requirement to activate the software. In addition, secondary measures included:
- Users have the possibility to turn-off auto billing regardless of having provided credit card details
- Start of trial nurture campaign after completion of form
- Automatic billing at the end of the 30-day trial
- 5 times increase in trial conversion rates
- Activation rate doubled
- Improved user experience and customer engagement
For more information, tune into this webinar to learn how Absolute achieved these results and be inspired to grow your revenue by increasing your trial conversion rate.
Project: Avangate Managed Affiliate Services. 84 % Increase in Sales
The Context & Objectives
Absolute wanted to expand its reach via additional marketing channels, their affiliate program being one of them. With an affiliate program already in place, Absolute software was looking to strengthen the program and boost its efficiency and reach in order to ultimately improve revenue, with a set revenue target.
Absolute Software worked with Avangate Managed Affiliate Services and its agency partner iAffiliate Management, a leading outsourced affiliate program management partner.
Avangate and iAffiliate put together for Absolute a specially dedicated program which included:
- An expanded footprint within the loyalty vertical, by partnering with Ebates & FatWallet
- Developing and executing successful campaigns with leading flash sale partners such as Bits Du Jour
- Increased PPC exposure on brand and keywords, increasing visibility over competitors
- Maximizing revenue during peak season
- Affiliate-generated revenue for new acquisitions increased by 84% YoY
- Grew AOV by 25%
- Increased conversions by 70%
Download the full Absolute Client Success Story here.
Project: Improved Retention on Consumer Online Services. Reduced Churn by 40%
Context, Challenges & Solution
Kate Kyle Brow, Director, Global Consumer Marketing, Absolute Software: "Absolute has definitely moved to being more of a service and not just a software. We constantly have to prove our value to our customers. About two years ago we shifted our focus into two areas:
- One is our reoccurring revenue stream just because that is such a solid predictor about what your future business valuation is going to become. We’ve done a lot of KPI shifting and Avangate has helped us shift not only our business minds to that, but providing the technology, the data, the reporting and the tools to help us measure and manage that.
Avangate has been a great business partner – they’ve been helping us optimize our ecommerce platform. They have been extremely instrumental in helping us understand how large is our subscription base, how many people are on the reoccurring revenue model, and our future forecast might look like, as well as for those people who are on the auto-renewal recurring revenue stream, how to optimize that and capture as many of those payments as we possibly can, because there’s a good 30-40% of people who said yes, we want to be on this platform and, for some reason, the payments didn’t process. Avangate have done a great job at triaging why those people were falling out and then helping us go recapture them.
- The second thing we’re really focused on is that we follow our manufacturers - Dell, HP, Apple - into new markets and Avangate has been a great partner in helping us understand how to do business in those new markets as well as get there really quickly – it’s not going to take months to build a cart, it’s going to take weeks. So, as you’re ready to launch into a market, Avangate is right there with you.
Snapshot of Results
Absolute Software's Consumer business has achieved the following results, based on their first year collaboration with Avangate:
- Improved Retention Rates
Fast implementation times, deep customizations (shopping cart, e-mails and my account end-customer area) and flexible pricing models improved retention rates. Absolute leveraged Avangate's expertise, platform tools and API integration for operation optimization, cross-channel migration and channel specific recapture.
Eliminating 30-40% of churn due to payment related reasons
- Improved Visibility into Recurring Business Metrics
Granular reporting on SaaS specific metrics and deep integration with Absolute's Consumer internal systems provided better revenue forecast capabilities.
- Improved go-to-market capabilities
Shorter time to market; commerce expertize on penetrating international markets
Additional Benefits from Working with Avangate
"The one word I would use to describe Avangate is a “partner”, they’re not just a technology solution for us, but they’re great partners, helping us solve whatever our problems or challenges might be. They take the time to listen, to provide consultative services to help us understand what some potential solutions might be and once we decide together what is that solution, then help us implement it," Kate Kyle Brow, Director, Global Consumer Marketing, Absolute Software.
Read more Avangate client success stories.