This weeks guest post is from Amber O’Brien and Rob Holthause at Subscribe Pro. Launched in 2014, Subscribe Pro enables auto-ship, auto-replenishment, subscription boxes and recurring billing, tightly integrated with your eCommerce platforms. Who better to give us the rundown of the business benefits of a subscription solution done right.
The world of eCommerce is evolving – and businesses need to evolve with it. Today’s merchants are challenged to keep up with the continuing demands of consumer and technology needs in the ever-changing digital landscape. Once only thought of in the context of magazines and newspapers, subscriptions are gaining momentum at an unprecedented rate in the eCommerce space. With that in mind, here are five benefits of a good subscription solution:
1. Revenue Increases
A subscription program is a great way to make a long-term investment in your business. Subscribing customers offer a steady source of recurring revenue and have a lifetime customer value up to 20x higher than the average customer. If the program is implemented well and marketed smartly, revenues can double, triple, or more through the first few years of implementation.
2. Customer Experience Improves
Today’s shoppers want to live unencumbered by the task of shopping for necessities. Offering your product or service on a subscribable basis allows you to meet the customer where they are – at the intersection of a busy life and a need for convenience. Easier access to auto-ship functionality changes the dynamic between customers and businesses from “customer seeks merchant” to “merchant anticipates customer’s needs.” The customer saves time and energy, and never runs out of their favourite products.
3. Brand Perception and Relevancy are Enhanced
It’s important to stay relevant in an interconnected world. Millennials and Gen-Z’ers make up 50% of the purchasing public, and these customers crave a new and innovative shopping experience, which subscriptions offer. A company that looks relevant and provides an exceptional customer experience promotes a positive brand perception, which keeps the brand at the forefront of the consumer’s mind.
4. Brand Loyalty is Fostered
If a customer is out of a consumable product, they’re likely to replenish through whichever route is the most direct and efficient. That may be through you, or it may be through a competitor. Offering a quality subscription experience ensures that a customer is never out of their favourite products and that they’re receiving them only from you. Additionally, if a customer has a subscription with a merchant, they’re more likely to make other, one-time purchases through that merchant as a result of their brand loyalty.
5. Internal Processes are Streamlined
The difference between an effective and ineffective subscription program can be surmised by asking “will the benefits outweigh the effort?” A good subscription solution will reduce manual tasks for employees, offer a stable and intuitive customer experience, reduce strain on site architecture, and eliminate headaches. Using a smooth and intuitive solution fosters growth and makes life easier on merchants.
Offering a subscription program is a long-term, viable solution for businesses looking to expand their digital imprint with consumers. Finding the right subscription solution for your business can make all the difference in ensuring your company’s growth.
Subscribe Pro enables Australian merchants to add subscription commerce, auto-ship, continuity, clubs, boxes and recurring billing features to their eCommerce websites. Subscribe Pro supports recurring payments via credit card, ApplePay and eCheck, with pre-built integrations for all universal payment gateways and Magento Commerce.
ABOUT THE AUTHORS
Amber O’Brien is an Administrative Assistant at Subscribe Pro, with an accomplished background in Not-for-Profit and Higher Education Administration.
Rob Holthause is an Account Executive with Subscribe Pro, developing relationships, seeking to understand clients, and offering subscription ordering and credit card vaulting solutions to clients across several eCommerce platforms including Magento Commerce.
Get in touch with the team at Subscribe Pro to learn more about their best in class technology to create loyal, satisfied customers.