Retail’s shift from offline to online stores has dramatically changed how consumers shop and how companies make sales. Today’s digitally native vertical businesses are increasingly relying on a subscription-model as a way to get a reliable stream of revenue.
It’s a model where consumers and businesses mutually benefit: the company can sit back and make consistent sales, while the consumer receives products they regularly use hassle-free at their door, often at a discounted price.
However, deciding to offer a subscription model is not the end of the story. In order to optimally leverage data, offer agile billing and payment options, and get the right balance of sales generation and fraud protection, they need the right Ecommerce platform.
Here are just some of the reasons why it’s smart to manage your subscriptions with software that has been specifically designed for this quickly evolving type of Ecommerce.
Having the right data and analytics helps subscription-model Ecommerce businesses maximize revenue in a few ways. There are industry leaders which offer Smart Tags and predictive analytics, so companies can know the lifetime value of a customer.
Companies can also know which marketing campaigns and products are and aren’t performing well, so it’s easy to step back from what isn’t working and continue developing what’s already successful. Omni-channel marketing lets businesses easily align their online and offline marketing campaigns.
One of the keys to a subscription model is automating processes which let the business sit back and retain customers without continuing to expend much time or effort. Ensuring credit card data is accurate before a rebill cycle is a huge way for subscription-model businesses to maximize their revenue, while also sparing customers the nuisance of having to manually re-enter this information.
Smart analytics will help improve customer relationships, which in turn will grow your business by reducing hard declines.
Integrations along the Value Chain
No one company can meet every single need that DNVB businesses have by themselves. That’s why the best Ecommerce platforms partner with industry leading third-party apps along the value chain. This way, Ecommerce businesses can get the best of everything they need, all under one roof.
Connect with a huge range of payment gateways, affiliate marketing, call centers, fulfillment centers, order confirmation, anti-fraud services and more. The one Ecommerce platform has it all, and it runs simply and seamlessly.
Keep it Secure
Ecommerce platforms need multiple layers of security to keep not just payments safe, but also data. Today’s leaders have their own anti-fraud specialists on hand, and they leverage data across the platform to weed out fraud in advance, so you can process orders confidently.
Your company will love the increased acceptance rates, as well as the dramatically reduced chargeback rates.
Ensuring that you make the smartest adaptations to an ever-changing field like Ecommerce doesn’t have to involve wasting time keeping up on the latest fad. When you get the right tools created by an Ecommerce platform specifically designed to help subscription businesses, you’ll grow steadily and securely for years to come.