The Power of Data-Driven Renewals

Pelcro has partnered with Mather Economics, a leading data analytics service to introduce Market Based Pricing (MBP). A feature which leverages advanced algorithms to personalize your renewal pricing strategies, maximizing customer lifetime value and minimizing churn.

Personalized Pricing: Mather Economics analyzes your customer data to generate tailored pricing plans for each subscriber. This ensures you offer the most suitable price point, fostering customer satisfaction and loyalty.
Reduced Churn: Eliminate subscriber frustration with mismatched pricing. MBP helps you identify customers at risk of churn and develop targeted renewal offers to keep them engaged.
Automated Workflows: Streamline your renewal process with automation. MBP integrates seamlessly with Pelcro's workflows, allowing you to set up automated renewal campaigns based on data-driven insights.
Future-Proof Flexibility: Our MBP framework is built for scalability. As you explore additional data sources, the system can integrate them to continuously refine your pricing strategies.

Getting Started with MBP

The Pelcro-Mather integration introduces a new attribute recommended_plan_id. This attribute, accessible via the Core API and visible in various sections of the Pelcro platform, this allows:

Segmentation: Leverage Pelcro's segment builder to segment your subscribers focused on renewal rates, step-up offers, and promotions.
Automated Campaigns: Leverage Pelcro's campaign builder to trigger promotional and renewal campaigns based on MBP recommendations, eliminating manual intervention.

MBP in Action: A Simplified Look

Provide historical and recurring customer data (subscriptions, phases, invoices, etc.) to Mather through .csv files.
Mather's algorithms analyze the data and generate suggested pricing plans/price points.
Pelcro receives the recommendations and assigns them to the corresponding subscriptions through the recommended_plan_id attribute.
Segment subscribers based on the recommended_plan_id and create targeted segments.
Automate your renewal process using Pelcro's campaigns to promote specific pricing plans or schedule renewals ahead to the ideal price points.

Ingesting MBP data

Once Mather analyzes your customer data and generates recommended pricing plans, you can ingest them into Pelcro using our Core API. Here's a simplified breakdown of the process:

Obtain the Pricing Data:
- Mather will provide you with a .csv file containing the recommended pricing plan IDs for each subscriber.
- Alternatively, Mather can provide the price points, and you can create new pricing plans as needed.
API Call Preparation: Prepare an API call to the Pelcro Core API's subscription update endpoint. This call will include the following data for each subscriber:
- Subscription ID: The unique identifier of the subscriber's existing subscription.
- Recommended Plan ID: The recommended pricing plan ID obtained from Mather's analysis. (This will be a new field in the API request payload).
API Call Execution: Execute the subscription update API call using your preferred programming language and libraries. Pelcro's API reference provides instructions and code samples.
Data Integration: Upon successful execution, Pelcro will update the corresponding subscriptions with the recommended pricing plan IDs from Mather.

MBP Segmentation

The recommended_plan_id attribute empowers you to create highly targeted subscriber segments using Pelcro's segment builder. Here's how:

Access the Segment Builder: Navigate to the "Subscription Segments" section within Pelcro and click on "Create Segment."
Add Segment Criteria: Utilize the various filter options available. Locate the "Subscription Segments" section and select the "Recommended pricing plan name" filter.
Define Targeting: From the dropdown menu, choose the specific recommended pricing plan(s) you want to target. Pelcro allows you to select multiple plans and use the "Include" or "Exclude" options to refine your segment further.

Segment Preview: Once you've defined your targeting criteria, utilize the segment preview option to see a real-time count of subscribers who meet the selected conditions.
Save and Apply: Refine your segment criteria as needed and save the segment with a descriptive name. This segment can now be used for targeted campaigns.

MBP Targeted Campaigns

The powerful combination of MBP-generated segments and Pelcro's campaign builder empowers you to create highly targeted promotional and renewal campaigns. Here's a breakdown:

Utilize Existing Segments: After creating segments based on recommended pricing in the segment builder, navigate to the "Campaigns" section within Pelcro.
Campaign Type Selection: Choose the appropriate campaign type based on your goals. Here are common use cases:
- Promotional Campaigns: If you want to incentivize subscribers in specific segments to upgrade to their recommended plans, select the "Promotional Campaign" type. Design targeted offers with discounts or other perks to encourage upgrades.
- Renewal Campaigns: To ensure smooth renewals for subscribers identified by MBP as potentially at risk of churn, choose the "Renewal Campaign" type. Craft compelling messages reminding them of the value proposition and prompting them to renew.
Target Audience Selection: During campaign creation, select the relevant segment(s) you created. This ensures your campaign reaches only the subscribers identified by MBP's analysis.
Campaign Content and Scheduling: Craft compelling email content or personalize messages based on subscriber data. Schedule the campaign launch and utilize A/B testing options to optimize performance.

Campaign Use Cases with MBP Segments

Upgrade Promotions: Target subscribers whose recommended plan offers more features or benefits. Highlight the value proposition and incentivize upgrades with limited-time discounts.
Win-Back Campaigns: Identify subscribers with expiring plans and recommended upgrades. Craft targeted messaging emphasizing the value of continued subscription and offer upgrade incentives.
Preemptive Renewal Offers: For subscribers nearing renewal with recommended plan upgrades, launch campaigns reminding them of the upcoming renewal and incentivize them to upgrade for greater value.
Retention Campaigns: For subscribers with recommended plans but potentially at risk of churn, design campaigns highlighting the plan's benefits and addressing potential pain points to foster continued engagement.

FAQs

What data points are required for MBP?

Customer data typically includes information on subscriptions, phases, invoices, and payments. You can reach out to your Pelcro or Mather account manager to better identify the specific data points based on your use-case.

How often should I provide data to Mather?

You can deliver data both historically and on a recurring basis to ensure the recommendations remain up-to-date.

Can I see the recommended pricing plans before applying them?

Absolutely. The "recommended_plan_id" attribute allows you to identify suggested plans for each subscriber.