1. Offer the right payment choices
From the outset, you need to think about what payment options to give your customers. You must decide whether you want to enable people to pay by credit card, direct debit, PayPal or other methods such as bank transfer, for example. And you need to put in place the right systems to enable this. The kinds of solutions you implement will depend on your business model and types of customers. However, the top priority should always be to make the process as simple as possible.2. Ensure you package your solutions properly
3. Focus your business model on recurring revenue.
By having a subscription and a regular contact point, customers that require additional products and services can just add those to their account. In monetisation terms, creating a stronger relationship with customers through subscriptions, makes it easier to win repeat business and upsell more.4. Make sure you put flexible billing in place
A business model based on subscriptions and usage needs flexible pricing options – but traditional on-premise billing systems are typically too expensive or not agile enough to handle this requirement. Cloud billing can be key here, reducing the time taken and cost of setting up new services and enabling businesses to rapidly turn creative ideas into monetised solutions. Louis Hall is CEO of Cerillion Technologies.Share this story