November has been a very productive month at Firmhouse. We are releasing two new features and updates to streamline your business operations. These features are rolling out to all customers and are available for all projects at Firmhouse today.
Let's dive into the updates for this month:
- Contract terms for products - set a maximum and minimum billing period per product in your assortment.
- Improvements for finance operations - we made it easier to match payments with your invoices and added a refund button.
- Service Channels - for companies selling through physical store locations, partners, and dealers.
- E-commerce tracking - improvements to fully track your funnel and e-commerce values.
Contract terms for products
Up until this week, we only supported contract terms for plans.
If you wanted a minimum commitment term for a product, you would first have to create a plan and include a single product. As a result, it wasn't possible to add products to a subscription with different terms.
But, no longer! You can now set commitment terms on the product level. This creates a lot of flexibility to temporarily rent out products. And you can for example set different price points if your customer signs up for a longer commitment.
Many of our customers have been asking for this; this help center article explains how to start using contract terms for products.
Finance operations & Payments improvements
Finance operations just became a lot easier. We have created the option to refund payments directly from your portal. Allowing you customer support and financial operations people to work from a single place. So without having to switch between Firmhouse and your payment provider.
For Firmhouse Payments customers, it is now possible to process refunds without our help.
We are in the process of rolling out this feature to all customers and the refund button should show up in your project soon.
We're now also adding payment and invoice references to each individual payment statement description. This makes it easier and faster to reconcile transactions from your payment provider to revenue in your accounting.
Service Channels for a perfect Retail experience
We believe subscriptions are the future, and the whole supply chain should be involved. Including partners, sales channels, and retail stores as they play a crucial role in driving adoption for a subscription model.
We already provide a two-step sign-up strategy for our customers where a subscription can be started in-store and finished from a personal device or later at home. This allows your customer to place their order on the spot, without having to enter their payment details on a public computer or device.
On top of that, we are now launching Service Channels, a feature to bring in your partners onto your subscriptions. The new Service Channels feature lets you assign a subscription to a specific service channel. This way, delivery, servicing, and revenue attribution can be easily organised.
Your partner's information can be easily integrated into your customer communication, allowing for a great and personal experience between you and your customers.
Retail is one of the biggest frontiers in our mission to enable the circular economy. They play one of the biggest roles in up-keeping a linear and transactional model for consumption. With this feature, we are making a first step towards enabling retailers to participate in this change and accelerate the transition to a circular world.
E-commerce tracking with Firmhouse Check-out
In the past months, we have shipped big updates to our Firmhouse Checkout. In November, we enabled a full data layer to track the e-commerce value and check-outs for your funnels. This enables you to track your campaigns' performance and see which results in the highest value customers.
We are continuing to add additional support for common e-commerce analytics tools, like Google's Universal Analytics 4 and Google Enhanced Ecommerce tracking.
What's coming in December
We are preparing for a final push on our e-commerce based features for the Firmhouse Checkout with the festive month upon us.
A sneak preview of discount codes can be found below. We expect to start rolling this out soon (we know you have been waiting!).
Amongst discount codes we are planning to release add a Cart to Firmhouse Checkout. This allows for changing a products quantity on our checkout, before continuing to the final payment step.