Nothing beats having an online subscription or membership based e-commerce business. You can offer subscription products or services through your site using a built-in subscription management software that allows you to collect recurring payments and create member areas.
Being able to offer subscriptions is a great business model for any e-commerce business. With subscriptions, you will be able to generate recurring sales on an ongoing basis. This kind of guaranteed income is not only great for you as the business owner in a slowing economy, but also adds value for your customers.
The way that a subscription based website works is you can either offer recurring products, content or services to your customers. The customer will be billed every week, month, quarter or year depending on what you have to offer and in exchange you must provide them with either more products, new content or continued service. This becomes ongoing for the specified subscription period or until the customer decides to cancel the subscription.
There are three main subscription models. The first one is a membership website where only people who become members can have access to information or a service. A good example of this is a dating website. The next one requires you to constantly provide new content or products to subscribers. This is the model used by most paid newsletters or ezines. The final one requires customers to pay for continued use of either products or services. There are many online software programs that use this model as well as some infomercial products.
There are several benefits for having a subscription based e-commerce business. Besides not having to depend on one time sales which can be good one month and then bad the next, you will have steady sales month after month. Your marketing efforts will also have a much higher payoff, once you acquire a new customer, they agree to buy from you again and again.
In order to run a subscription based site, you must determine how to set up the recurred billing, when to charge customers, what to do if payment is declined, what factors are considered for terminating a customer’s account. There are a lot of details required to ensure this operation runs smoothly.
What you need is an e-commerce solution that will automatically handle all of these billing issues for you once you set up the necessary parameters so you have less to worry about and can focus on customer acquisition.
Core Commerce developed an entire system to help you handle all of your basic subscription or membership needs. With design tools to set up your store in minutes, a full list of growing features at your disposal and superior support, it’s no wonder they are rated one of the best e-commerce solutions. Try it absolutely free for 15 days without giving them your credit card information.
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