Subscription is one of the best marketing techniques that various types of industry follows. Thanks to a subscription-based eCommerce model that caters to the user’s needs and meets their specific requirements. Just like Netflix, one of the top streaming service providers. Netflix categorizes the subscription effectively and pays attention to the interest of every user. In short, many people look for online subscription services to enjoy exclusive advantages.
Well, the subscription feature has made the lives of customers & brand easy- profitable for both. Why do people use a subscription? The main reason is economic. Moreover, brands serve every type of customer needs, from the basic plan to premium ones. Hence, it’s a win-win situation.
In today’s scenario, subscriptions are not limited to the online content based industry. The boundary is crossed to the digital sector. Consumers are in favor of subscriptions as they avail of skincare services to purchase grocery items & apparel.
- What Customers Prefer in Subscription Services
Customer satisfaction is the priority of businesses. Without adequate customer services, companies can go through immense loss. Moreover, customers look for the product or service that’s worthy. While looking for subscription services, the customer ensures they are getting quality for what they are paying off. Read the pointers that mark excellent services of subscription provider:
➤Feasible
Customers don’t like much hassle work, so they prefer platforms that deliver a timely notification to their mail about the latest subscriptions. The integrated platforms allow users to renew or cancel subscriptions in one place. There is no need for navigating between different apps & softwares. All subscription data in one place make customers happy & convenient to use.
➤ Cost-Effective
Service providers don’t offer a premium feature for free. Indeed they charge the cost of delivering benefits. The best subscription provider is the one that doesn’t charge the fees for offering multiple features. Some best online payment gateway allows customers to manage the subscriptions at one dashboard without additional fees or charge relatively less. Isn’t that good? Customers will be happy & satisfied as the tool is cost-effective.
➤Something Extra
Various subscription service providers deliver new recommendations based on customer data. This is a good approach to keep potential customers and have a better customer engagement rate.
Business always looks forward to more customer engagement to build brand awareness & goodwill. Hence, customers rely on the recommendations which are suitable for them. For instance, customers easily discover new items as a recommendation on their dashboard without going to a specific website or an online store.
- Types of Subscription-Based Model
➤Fixed Subscription
This type of subscription is not much customer-friendly. It’s a fixed fee for a specific duration for particular services or products that one wants to avail of.
➤ Unlimited-Type Subscription
The unlimited subscription also includes a fixed price for availing of service or using a collection of goods/items. The thin life difference between a fixed subscription and an unlimited one is the duration. The duration is infinite but might be an expensive subscription.
➤Pay When Require
This model is pleasing for customers as one makes the payment for the product/service when they use it. Many industries have started using this technique as it is convenient for customers.
➤Premium Subscription
This service is widely used as it is not forceful for every user. The user pays for the premium plan if he/she needs the features. It includes some additional charges than the basic ones. Netflix makes the best use of the premium-based subscription model.
➤ Freemium Subscription
Here, providers ask for contact information and offer basic services in exchange.
Top payment gateways hold every kind of subscription depending on the business requirement. Making payments is a bit risky as there are so many fraudulent cases. Always go for the subscription provider that ensures payments are secured & encrypted (including 2FA verification).
