Author Topic: How to build subscription based ecommerce  (Read 763 times)

Offline Basara

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How to build subscription based ecommerce
« on: July 17, 2020, 08:06:52 AM »
This is a quick intro to subscriptions
The subscription business model is based on a customer paying a regularly recurring amount in exchange for the service. From hosting services to fitness membership or storage the subscriptions help building long term relationships with customers and recurring revenues.

Subscription models give customers the feeling of owning many different products without the cost, responsibility, and clutter of actually buying them.

Today, payment processors and ecommerce applications make it possible to set up and process recurring payments without massive investment.

AbanteCart Stripe Subscription module is a quick way to start offering subscriptions to customers, allowing different product/services variations,  subscription cycles and trial periods.

Subscription product types
Regular services or supplement, memberships, downloads, meal delivery services, educational memberships, car regular services or any regularly-purchased goods, like vitamins, skincare items, coffee, and pet food.

What is your subscription cycle?
A common subscription cycle is monthly, but don’t get stuck on that cycle. Stripe supports a daily, weekly and yearly cycle with flexible interval count. For example, you might subscribe the customer to every two weeks or every 5 days.

Using trial periods on subscriptions
Beat competitors and start a customer’s subscription with a free trial period. If that’s not your eCommerce subscription model, you can start subscriptions right away.

You have to convince your customers not only to buy your product. You also need them to sign up with you to get more of it on a regular basis. Your subscription eCommerce business will have a closer relationship with your customers than most eCommerce sites. A subscription might not seem much different from a one-time purchase. But to manage subscription payments you need to retain more information about your customers, so you can charge them automatically in the future and maintain appropriate access to your product.

Customer billing
With a subscription product, you need to be able to bill every cycle. Every time payment is due for a subscription, a draft invoice and new AbanteCart order are generated. If payment fails because of a card error such as a decline or require authentication to complete the payment process, AbanteCart notify the customer with ability to change payment method or confirm authorization.


Extensions to use.
AbanteCart Subscription payment https://marketplace.abantecart.com/stripe_subscriptions
keep your customers informed and updated with the latest products and news that is relevant to them. Send a mailing via the AbanteCart Send Mail feature or install Mailchimp extension. Mailchimp is the number one industry standard email marketing platform.
To help with fast and targeted search of your products http://marketplace.abantecart.com/elastic_search
Online chat to help customers select the right service https://marketplace.abantecart.com/live-chat

 

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