sticky.io Appoints WooCommerce Veteran Spencer Watts as CFO

Subscription commerce platform provider sticky.io has appointed Spencer Watts as its new chief financial officer (CFO).

Watts moves to the company from WooCommerce, where he served as both CFO and chief operating officer (COO) and increased profitability, strengthened financial operations and helped raise investments, sticky.io said Tuesday (Nov. 15) in a press release.

“Spencer’s impressive track record of financial growth at top subscription, eCommerce and technology companies will be an asset to our team as we continue to grow our client base and develop reliable, highly scalable solutions.”

In his new role at sticky.io, whose eCommerce platform is focused on subscription management and recurring billing, Watts will lead the finance and revenue teams as they provide the structural support needed to advance product and design and bring people and brands closer together, according to the release.

In addition, Watts will help the company quickly adapt to industry changes and supply the team with the financial support they need, the release said.

“I’m thrilled to join the team at sticky.io to help strengthen the relationships between brands and people,” Watts said in the release. “Our passion is our customers’ success, and I look forward to building upon our industry-leading technology.”

PYMNTS research has found that at a time of inflation and other pressures, the onus is on subscription services to develop a powerful appeal to subscribers focused on affordability, convenience and value.

The “Subscription Commerce Conversion Index: Subscribers Seek Affordability and Convenience,” a PYMNTS and sticky.io collaboration, also found that consumers appear to be consolidating their subscription activity as they shed other subscriptions and that subscribers are reducing expenditures on nonessentials, which include subscriptions.

“Many consumers are on the verge of eliminating subscriptions that do not maximize affordability and convenience,” the report said. “Subscription service providers seeking to retain these customers’ loyalty must optimize their offerings for user experience and value.”