Subscription-based businesses are often seen as a viable alternative to traditional e-commerce websites. Instead of focusing on selling individual items and shipping them to customers, subscription-based e-commerce websites offer a flat monthly fee for a particular service or products.
Among some of the most notable benefits of subscription-based businesses is greater predictability in terms of revenue and costs, as well as higher customer retention rates. In other words, you are working on keeping your existing customers while still attracting new ones without the need for you to bring your customers back for a second or third purchase.
When it comes to picking the right digital tool for your subscription-based business, e-commerce web developers can help. However, it’s beneficial to know what your options are before meeting a web developer. Let’s take a look at some of the most popular web platforms for managing your subscription business.
If you plan on adding a subscription option to your WordPress website, WooCommerce Subscription is often the first choice. Setting up this tool doesn’t require any coding knowledge. You can use it to sell physical products or services, and you can add product variations as well. It also supports automatic and manual renewals.
Another advantage of WooCommerce Subscriptions is its flexibility. Thanks to a number of already available plugins, you can sell both digital and physical products.
Braintree is a payment processing solution that provides incredibly easy-to-use features. No matter what kind of an e-commerce website you’re running, Braintree can easily integrate into the existing code, but the easiest way to do this is by having a WordPress-powered website.
Since this is a payment processing solution, it can be integrated with the WooCommerce digital store as well. After setting everything up, a snippet transforms into a form that processes your customer’s financial data.
Even through Braintree’s default payment option includes credit cards, this isn’t the only option to choose. Other payment options are PayPal, Bitcoin and Venmo.
This tool also supports payment systems like Apple Pay and Android Pay. Offering a variety of payment options allows you to receive international payments from most countries and markets. This includes payments in local currencies as well.
Braintree can also handle complex and simple recurring payments. You can add different subscription models, which include custom-designed trials and discounts. For example, you can run a custom discount for a limited time without worrying about what happens when the promotion ends.
This tool is very secure. You can set up Braintree to reject duplicate payments, restrict IP addresses and set up custom risk thresholds.
Chargify is the perfect tool for any subscription-based business that needs high levels of customization. This tool can be used to manage several e-commerce websites within one dashboard.
The first step includes adding your website(s) to Chargify, where you’ll be able to use the tool’s dashboard to review different kinds of information. This includes your revenue and subscriber counts, as well as other custom-designed reports. Then you can set up and fine-tune different subscription models and start accepting payments.
Perhaps the best thing about Chargify, aside from its different kinds of automatically generated reports, is its flexibility. For example, you can set up a couple of different subscription models. And, you can add a combination of the various items that go with those subscriptions.
For example, you can offer a monthly access to your tutorials, but you can also sell individual books that aren’t part of monthly subscriptions. You’ll be amazed by how capable this tool is. For example, you can issue refunds, run special promotions, log external payments or manually add new customers. You’ll also have access to Chargify’s support in case of any issues.
Recurly is specifically built for subscriptions, and nothing more. It does its job very well.
The first step in setup includes choosing a payment solution, such as credit cards, Pay Pal and Amazon Payments. This tool brings an astonishing integration with third-party payment solutions. You can add multiple payment gateways and allow your customers to pick the one they like the best.
The second step includes creating your subscription models. You can create as many models as you want and customize them with different charge periods. This way, you can create monthly or yearly subscriptions. You can offer a free trial as well.
When it comes to keeping track of your sales, you can count on Recurly. This tool allows you to obtain detailed information on every customer, including their payments, plans, billing information and more.
In addition, you can get PDF files with a comprehensive analysis of your business’ financial performance. This kind of in-depth information is beneficial when it comes to adapting your future strategy.
Recurly is one of the most intuitive payment processing systems that comes with excellent flexibility and is very user-friendly. It keeps your customers happy without you worrying about this side of your business. Instead, you can focus on finding new customers.