Zuora, Inc., (NYSE:ZUO) the leading cloud-based subscription management platform provider, announced today that its customer Creativebug, a video content provider owned by a leading craft retailer, is using the Zuora® Central platform to speed up the launch of new on-demand offerings, increase customer engagement, and expand globally. Creativebug is also using Zuora Collect to reduce subscriber churn.
Contrary to popular belief, the brick-and-mortar world is not dying. In fact, eMarketer says the global retail sector is projected to reach nearly $28 trillion in sales by 2020. Providers of consumer goods are shifting their sales strategy to start with customer experience rather than with a product according to KPMG. Zuora is a firm believer that a new consumer buying trend of favoring “access over ownership” will have a long-term impact on businesses, with companies able to reap the rewards as they shift to pay-as-you-go subscription models.
Launched in 2012 by two cousins who aspired to bring arts and crafts to the world, Creativebug started with a small amount of seed money. By 2014, the company had already seen exponential growth of 550 percent, and by 2017 Creativebug had more than 1,000 on-demand, high-quality arts and crafts videos, while continuing to add new videos daily.
Creativebug has proven itself an expert at generating customer engagement with its ever-expanding diversity of classes and creative projects. But, prior to implementing Zuora, building out content offers was more complicated and time-intensive. As Creativebug grew, the company realized it needed a technology partner to help with subscription management, flexible pricing and packaging, and global payments.
Now on the Zuora Central platform, Creativebug can get a new promotional offer to market in just one to two weeks, including development, internal testing, and roll out. According to Liana Allday, General Manager at Creativebug, “We find it can take five touches to build momentum with customers. Zuora gives us the flexibility to be creative with pricing and packaging so that we can see what resonates with customers, and what doesn’t.”
As Creativebug continues to grow its subscriber base, the focus is broadening to include churn management. Zuora Collect helps Creativebug better optimize payment operations by increasing revenue collection while decreasing involuntary churn caused by payment failures and hard credit card declines.
According to Allday, as the company continues its commitment to making the world a more beautiful place, she is “looking to expand our products and our offerings to better reach a larger audience and make it easier for customers to participate in our creative community, however it fits into their lifestyle.”
Read more about Creativebug in the company case study here.
Creativebug is an online learning community for DIY crafters, producing award-winning inspirational and educational videos. Founded in 2012, Creativebug is known for its all-star lineup of instructors and video classes that walk you through creative projects from start to finish. Members enjoy unlimited access to classes in painting, drawing, sewing, quilting, cake decorating, knitting, crochet and more. There is truly something for everyone in Creativebug’s growing library of thousands of classes. creativebug.com
About Zuora, Inc.
Zuora provides the leading cloud-based subscription management platform that functions as a system of record for subscription businesses across all industries. Powering the Subscription Economy®, the Zuora platform was architected specifically for dynamic, recurring subscription business models and acts as an intelligent subscription management hub that automates and orchestrates the entire subscription order-to-cash process, including billing and revenue recognition. Zuora serves more than 1,000 companies around the world, including Box, Rogers, Schneider Electric, Xplornet and Zendesk. Headquartered in the Silicon Valley, Zuora also operates offices around the world in the U.S., EMEA and APAC. To learn more about the Zuora platform, please visit www.zuora.com.
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SOURCE: Zuora Financial
This press release contains forward-looking statements that involve a number of risks, uncertainties and assumptions, including but not limited to statements regarding the expected growth and trends in the global retail sector, consumer buying trend expectations, the expected growth and trends in the market for subscription businesses, and the expected benefits of any such trends. Any statements that are not statements of historical fact may be deemed to be forward-looking statements, and actual results could differ materially from those stated or implied in forward-looking statements. This press release also includes market data and certain other statistical information and estimates from industry analysts and/or market research firms. Zuora believes these third party reports to be reputable, but has not independently verified the underlying data sources, methodologies or assumptions. Information that is based on estimates, forecasts, projections, market research or similar methodologies is inherently subject to uncertainties and actual events or circumstances may differ materially from events and circumstances reflected in this information.