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.
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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.