The power of the Subscriber
Aug 31, 2020What are subscriptions? They are recurring purchases made by one client (not one-off purchases).
Think: Netflix, meal kits, dog food, Masterclass, e-libraries, electronic news platforms. Even bacon ...
Customers like subscriptions because they can give access to much more (Netflix, Masterclass). With meal kit or bacon subscriptions, one can try out different items. Or it is just plain convenient (dog food).
Suppliers like subscriptions because they ensure predictable and consistent income.
This is how we've done it for some of our own clients:
- Cluny Farm Subscribed Donations
Offering users the opportunity to set up a monthly donation is a great way to increase ongoing charitable giving. - Monthly Subscriptions for the CRA
Monthly subscriptions allow the CRA to give their clients access to their content through different subscription tiers. They even offer a free trial to increase buy-in.
Getting the initial subscription set up is straightforward, but pausing the subscription while customers are on holiday, upgrading or downgrading the subscription level and handling credit card expiry and changes are all things that complicate the process down the line.
Some things we have learned:
- Make it easy to sign up.
- Be forthcoming and upfront with the important information, like pricing and cancellation terms - nobody likes unpleasant surprises that might be deal breakers.
- Start simple: Handle the complicated issues manually until it becomes worthwhile to automate