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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
123ContactForm - Web Form Builder
20% Increase in Renewal Rates. More than 100% YoY Growth
"123ContactForm has been growing at a high pace and with this came the need to scale operations efficiently. Avangate has been instrumental in helping us scale online sales globally and in making sure that we do not leak revenue at various moments of the client lifecycle, but instead obtain revenue uplifts through optimization projects.
We have seen great results from employing Avangate’s in-platform marketing and revenue recovery tools and we’ll continue our optimization efforts in order to maximize ROI and offer our clients a frictionless online experience, from the first acquisition or upgrade, to subscription management and renewal,”
Florin Cornianu, CEO and Co-founder of 123ContactForm
123ContactForm, a leading SaaS-based online form builder for web and mobile, has established itself as a major player in the industry through its signature “Easy as 1-2-3” concept in creating forms and surveys. More information on http://www.123contactform.com/.
Increased Revenue by 18% with an Optimized Upgrade Page
The 123ContactForm marketing team was running programs to generate more traffic, but this wasn’t leading to more revenue, so the team decided to find ways to optimize the purchase funnel.
Increasing the cart conversion rate from 85% would have required a huge effort for a small potential revenue increase. It is also a rate way above the industry average of 70%, so the 123ContactForm team decided to explore other options, starting with the site conversion rate, display different messages for users, make the package description and package display more clear.
- 21% increase in conversion rate (from 17.4% to 21%) for the whole buying process
- 18% revenue uplift
Acquisition and Retention Optimization: 19% Revenue Uplift
Within a crowded market, with many free tools available, the company was looking to optimize their commerce operations and go-to-market approach.
- Increase revenue by optimizing acquisition and implementing churn prevention actions.
- Improve customer experience and drive additional revenue uplift, across all stages of the customer lifecycle
Benefits & Results
- 14% revenue uplift from improved conversion rates on new acquisitions (Avangate’s A/B testing tool employed for testing)
- 3% revenue uplift from advanced Revenue Recovery Tools on renewals
- Promotions generate an additional 2% revenue uplift
- Further revenue uplifts from localized payment methods with recurring capabilities
Why 123ContactForm Selected Avangate & Benefits Achieved from the Switch
High growth SaaS start-up looking to expand into new markets and industries had hit a wall selling online with a payment-centric solution.
- Optimize online sales and back-office operations, while focusing on the customer and improving customer experience;
- Increase retention and global reach without investing in local payment processing.
- Working with a payments-only solution required 123contactform to be up-to-date with VAT and sales tax regulations on a global level, defocusing them from their main activity;
- Dealing with invoicing put a strain on the company’s resources and increased administrative costs;
- Lack of customization and off-the-shelf integration or capabilities for SaaS businesses prevented 123contactform from improving automation and speed of service, resulting in high drop-out rates on renewals and a high cost of acquisition.
Benefits & Results
"123ContactForm grew so fast that we soon needed more than the ability to just accept payments online. The complexity of the business increased and with 10,000+ clients we needed automation and SaaS-specific tools to help us acquire customers faster and increase retention – so crucial for a SaaS business.
Avangate clearly are the best fit for 123ContactForm. They help us focus on our customers and grow the business further,” Florin Cornianu, CEO and Co-founder of 123ContactForm
- Improved client retention: renewal rates increased by 15-20% for the first renewal cycle;
- Increased customer satisfaction and speed of support service through seamless integration with provisioning, self-service and multi-user account management;
- 50% time savings in go-to-market activities for faster client acquisition;
- Doubled the number of countries served: from 50+ to 100+;
- Decreased operational costs.
Read more Avangate client success stories.