Ecommerce Solutions for subscriptions
Built-in Subscription Ecommerce Features
Most ecommerce platforms don't offer any subscriptions functionality without the use of third party plug-ins, apps or extensions. These can often incur additional annual charges, monthly fees and/or are based on a revenue share model. The tradeit ecommerce platform has subscription functionality built-in to the core code meaning it has been natively developed to work alongside all of the other functionality, straight out of the box. It's also flexible enough to support all three subscription models across retail, direct-to-consumer and B2B applications making it a great choice for providing ecommerce subscription services.
Seamless online management.
Allow customers to choose from different frequencies like; weekly, fortnightly, every 3 weeks, monthly, bi-monthly, or quarterly. The list can be customised to remove frequencies that are not valid to particularly products or expanded to include any other frequencies required. Products can each have different frequencies applied.
Customers can configure a delivery address for their subscriptions and all products will be sent there. Delivery addresses can be updated at any time in their account.
Customers can log in to their account and cancel any subscriptions they no longer require, or move the delivery date of their next scheduled delivery if they are going to be on holiday when it is due to arrive.
Customers can select a card payment for subscriptions from existing cards on their account or via a new card. They can change payment card at any point from within their account. Customers are emailed before taking payment for each subscription, outlining what's included each time, and are also notified of expiring & expired cards.
Customers can choose a billing day to suit them (Mon-Sun) which they can change at any time in their account. Set a cut off day for shipment day and choose the day your customers shipments are sent.
The relevant delivery option will automatically be assigned to any subscriptions to ensure that it arrives as requested by the customer.
Your subscribers are special so treat them like it.
Display or remove any content based on the user group meaning you can tailor content to your loyal subscribers that other customers can't see, or differentiate between different subscriber types/levels such as platinum, gold, silver etc...
Examine the performance of your subscribers, analyse trends and be alerted to customers changing, reducing or stopping their subscription for re-engagement campaigns.
Trigger emails based on user action or inaction such as new, lapsing or lapsed subscribers.
Include or exclude subscribers from promotional campaigns or offers so you are not giving away too much margin, or only focusing certain activities on your most loyal customers.
Encourage subscribers to introduce your subscription services to others with discounts for new subscribers and those who recommend them.
Secure & reliable recurring payments.
Automatically take payment from your customers on a recurring basis without any manual intervention. Once they are subscribed, tradeit manages the rest, meaning you can confidently predict when your recurring revenue is coming in.
Customers can select a card payment for subscriptions from existing cards on their account or via a new card which they can change at any point. Customers are emailed before taking payment for each subscription, outlining what's included and the amount debited from their card each time. They are also notified of expiring & expired cards.
Fully PCI-DSS compliant meaning payments are taken safely and securely at the requested frequency.
Help negate delinquent churn with our built-in, automated, failed payment recovery tools. If payment fails the customer will be notified and then have 24 hours to amend it in order to receive their goods as scheduled. They will also be notified if their preferred payment method will expire in the next 2 months. Merchants can report on failed payments of subscriptions in tradeit’s administration system.
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Ecommerce for subscriptions businesses
Turn your customers into loyal advocates.
Engender customer loyalty
Turn potential one-time purchases into repeat orders, creating extremely loyal customers and, potentially, brand advocates that can provide you with valuable word of mouth about your products or services helping your subscription business grow.
Lower cost of acquisition
It costs six times as much to acquire a new customer as it does to retain an existing one so earning a regular source of revenue without some of the associated costs of attracting that additional business helps drive increased profits and a reduction in required resources.
The guaranteed future revenue from subscriptions helps merchants to manage cash flow, planning, product inventory and forecasting aiding the day-to-day running of the business.
Free up valuable staff time and resources by avoiding heavy levels of administration necessary for processing new customers, new orders and invoices. Subscriptions are handled automatically without any additional manual intervention required and the customer self-service tools enable them to easily manage their own repeat orders.
Measure customer value
As users who subscribe to your products or services will potentially remain customers for a longer amount of time, this gives you a far more accurate way of measuring Customer Lifetime Value (CLV) and churn rate, amongst other important KPIs.
Expand customer base
Subscriptions can help you open up a new customer base where previously users wouldn’t have been able to afford, or would have been unwilling, to pay the large upfront cost associated with a service. (Think of cloud-based software costs for example. These often now have a monthly subscription fee per user for access, compared to previously where they might have required total payment up front to access the product).
Increase business value
Additional recurring revenue makes businesses more valuable and more attractive to potential buyers so if you are looking to exit a business, a proven subscriber base with a guaranteed projected revenue with product loyalty will be a worthwhile asset.