Do you know which unique mix of features works best for your customers? As an online merchant, there is a multitude of options you can offer to increase your sales! One of the most popular and successful options for online shoppers is a subscription service model. You can sell almost any product or service with this sales technique that uses recurring payments without reordering! Subscription service models in e-commerce are not just another trend and could be an ideal fit for your online store. Today let’s discuss what a subscription service looks like and how it can take your e-commerce site to the next level.
All about E-commerce Subscription Services
There are many different kinds of subscription service options that you can implement in your e-commerce site. You can also offer subscription pricing for a variety of products- from a single, full size item to a package of many disposable or consumable items. Consider the following subscription techniques:
• Offer a subscription service for “everyday items” that will easily appeal to customers who already regularly buy or use a product. Let them choose how often to have products sent to them and market this as an easy and practical option.
• Becoming increasingly popular for online shoppers are the monthly or periodic surprise and sample boxes. From beauty products to dog treats, there are many specific items that customers would love to subscribe to! This method also gives you the chance to introduce a wide range of products to customers who would have never tried them otherwise.
• A third subscription option, with a more targeted approach, is a membership pricing model which both attracts and earns regular customers by offering them exclusive discounts on your products or access to exclusive products. This approach will give you regular visitors and boost brand loyalty!
Increase Visibility for your Online Store
Visibility is crucial for your e-commerce success and offering a subscription service will boost the visibility of your online shop. While doing so, this model will also offer you an incredible opportunity to stand out from your competitors. The unique advantages you can offer customers with your subscription services will help spread the word and get the name of your e-commerce site in front of more online shoppers. You can really create a buzz by offering enticing perks just for your subscribers, such as discounted prices and exclusive products. Make a subscription to your products or services so attractive and tempting that your customers won’t be able to resist! A subscription service is truly a feature that can separate your online store from hundreds of similar e-commerce sites you compete with every day. What are you doing to make your online store stand out?
Supplement your other Revenues Automatically
Another great benefit of offering subscriptions to your customers is that they will supplement your other revenues automatically each month or pay period. In addition to customers who may only visit your online store once or just once in a while, subscriptions bring you a steady stream of revenue. Once you have a substantial number of subscribers, they can even become your main source of revenue! Try implementing subscription services for more of your products to see how it affects your revenue streams. Offering subscription options can provide you with regular and predictable revenue, music to an online merchant’s ears.
Earn your Customers’ Loyalty
Along with a subscription service, comes a valuable opportunity to offer a wonderful customer experience and incredible customer service. To effectively implement this sales technique, you must always keep in mind that your subscribers will regularly interact with your company and products. Although they may be enjoying a discounted price, your customers are also committing to your company and products as subscribers. Your actions as a merchant will either earn your customers’ loyalty or lose it. You can also make sure you are keeping your customers happy by consistently ensuring and upgrading the value of their subscription by taking steps including:
• Making sure the essentials are taken care of, such as inventory availability, ease of payment and shipment options.
• Offering better subscription options than your competitors’.
• Listening to customer feedback and addressing any problems or concerns promptly. Let your customers know that when they buy a subscription from your online store they will be taken care of!
Optimize your Online Store with a Subscription Service Today!
If you are going to implement a subscription service, you must be prepared to stick with it! You also need to ensure that your organization is built to optimize all the key features that drive a successful subscription company. Merchants should also make the details of subscription pricing extremely clear and easy to understand for customers. You want to avoid making customers feel trapped or tricked which will ultimately earn you very bad publicity. These are a few advantages and considerations when offering subscriptions, which will be extremely beneficial for your online store.
Download a Subscription Module to Boost your PrestaShop Online Store
Be sure to check out PrestaShop’s Official Marketplace to find subscription service modules that will help you build a successful subscription program today!