Software, music and video streaming services, gift boxes, training session, news - subscription-based services have occupied almost all parts of our lives. Last month Netflix reported 15.8 million new subscribers over the first quarter 2020, Spotify grew by 6 million, reaching 130 million premium subscriber base, Disney+ gained 22 million subscribers in just 2 months (Bloomberg, May 2020). What are the benefits these companies see and how you can apply it to your business? We've made TOP 3 of most preferred advantages.
1. Forecastable cash-flow
Well, any business loves being paid in advance. "Why should I pay now, if I may pay later?" thinks one customer, others - forget to pay due on time or messes up with the account number. It all results in cash gaps and stress in the finance department. Recurred billings, in turn, solve all of the listed problems. Information entered by the client is encrypted and stored for further regular payments. You, as a company, get regular rechargeable balance.
2. Increased conversion
Bulk payments are heavy, and at the moment of acquaintance with the product - unnecessary. To gain the trust of your customer, you have to make them enjoy the product first. Subscription solves this by allowing a decrease of the amount paid at once. The client is thereby less resistant to purchases and eager to try his luck by subscribing your service. Besides that - this solution makes you credible in the eyes of your client. What else to crave for.
3. Hassle-free service
Besides making you trustworthy, recurred billing is definitely easier to use. You could save time making invoices and communicating to your accountant. Your client, meanwhile - forgets about the necessity to send you funds, because they do not have to bear it in mind anymore. Set the conditions once and the system does it all for you.
If you feel like recurred billing is missing in your e-commerce - set it up with Decta Gate. Establish customised billing cycles to match your business needs. Automate online payment transactions and save time on invoicing.
To learn more, contact us: email@example.com