Subscriptions in an E-commerce Website

FirstName Lastname 3 years ago

Share:

The world has shifted towards smarter screens and monetary transactions are also making their place digitally. Make it extremely important to provide your customers with multiple payment options, so that they feel more comfortable and are able to pay at their own convenience. Putting in options like Cash on delivery, Debit Card, Credit Card, is important but including options like Subscriptions, not only increases your customer base but also has many other benefits. But before talking about what you can gain Let us first understand what Subscriptions is?

Subscriptions are when a customer has already paid for a product or service to avail of the benefits for a set period of time.

Now that we know what a Subscription is, let’s see how it can help you and your website reach new heights-

Benefits of Having Subscriptions in your E-commerce site

Long Term Relations

Having your customers subscribe to your products/ services ensures that you will be in contact with them for a long period of time, ensuring brand loyalty for you and enough time to satisfy your customers. You can easily make them permanent customers by providing them great experiences and regular interaction-powered problem-busting solutions.

Increased Security 

A subscription means that the customer has already paid for the product/ service and you have delivered it till the subscription ceases. This reduces the chance of any fraud and double-dealing. The customer has already paid you would not go to the lengths of canceling the subscription midway unless utterly dissatisfied.

Regular Revenue Generation

Having customers subscribe would mean that you have a regular flow of cash, at a regular interval of time. This would help your business tremendously by keeping it stable and giving enough monetary liquidity to manage your transactions with ease.

Ease for Customers

Your long-term customers would find it easy and hassle to avail of a subscription and get timely services or products instead of ordering and paying daily and you would also get a regular customer. 

Now that we have settled that Having Subscriptions on your E-commerce site is a splendid idea, let us talk about some important pointers one must keep in mind before making this available to customers.

Things to Keep in Mind

Viable Product

Before asking your customers for subscriptions it is important to make sure that your product is subscription-worthy, For eg- If you have a cloth store you can not expect your customers to subscribe for a pair of jeans to be delivered every month. 

Costing

The pricing of the subscriptions must not be too high, or you can lose your customers. In a subscription, customers usually make advance payments in bulk for the products or services and the total price can sometimes be too high, so you may want to introduce offers or schemes that attract customers.

Retain Your customers

After acquiring subscriptions your main focus should be on keeping your customers satisfied so that you can either get them to renew the subscription or upgrade it. This way you can not only have customer loyalty but also acquire a permanent flow of revenue.

How will Codenia make it Easier?

If you have an E-commerce website or want to start a subscription based business online, Codenia is the right choice as we have experienced developers who have tried and tested every aspect of website development and providing you with a website that can easily manage subscriptions in addition to other features you might want, is easy for them.

You can have a website that displays your products/ services in an exclusive UI and give your customers a unique experience when they easily navigate through your website. Adding different Payment methods and managing your subscriptions can be included in your website with any other customization that you might want in your website. We will integrate, apply and do full-proof testing of the website before handing it over to you so that there is no chance of any error.