Today variety of products and services are burgeoning on the Internet. We cannot avail those under a single business model such as one-time buying model. Several other convenient business models are existing in the market to meet expectations of both ends and subscription model is one of them and great as well.
When we talk about subscription, newspapers and magazines are flashing in our memories. However, today many other industries using the subscription business model for monetization and marketing purposes after some modifications.
Practically, subscription business model is benefiting businesses in various ways such as:
- It assures a predictable and uninterrupted income for the business
- It removes uncertainty factors and cut the financial risks to some extent
- It enhances money flow for critical and ongoing business operations by collecting subscription fees in advance
- It assures customer loyalty by achieving continuous subscription targets
- It allows greater degree of freedom/flexibility to offer marketing incentives and skips for the sake of subscribers’ interests
- It enhances marketing analytic by providing data through subscriber database
- It provides higher average customer lifetime value (ACLV) and greater customer inertia with dedicated customer base
- It also encourages up-selling and cross-selling
Fortunately, our newly launched extension, which is solely devoted to ‘Subscription Business Model’ users using the latest version Magento 2, helps them to grab aforementioned advantages.
We say it because we know that how a business with significant scale traffic and tons of consumers, faces trouble in managing its subscribers, even with lean approaches, to satisfy them.
We know there are many categories of subscriptions other than generic magazines and newspaper models such as
- A subscription for unlimited use of service/s
- A Pay-as-you-Go subscription
- A subscription for Freemium and later on for Premium services or products
In such scenario, core Magento is not providing any inbuilt feature or functionality to address such intricacies involved in subscription business model of today.
Of course, several extensions available to address subscription management needs, but our ‘Subscribe Now – Magento 2’ model stands apart from the rests.
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- It offers ease subscription management for single to multiple products as well as for multiple stores operated by single backend in Magento
- It has comprehensive payment gateways integration to address diverse preferences of audience across the globe
- It is built with high-security features and functionality as well as PCI compliant
- It enables backend users to track and manage customer subscription quickly by sending timely notifications or withdrawing payment directly from attached cards or accounts
- When a subscription fails, it immediately intimates customers through appropriate notifications
- It enables business to notify its subscribers that when subscription starts, ends, canceled, or updated
- Besides these, it offers more features that empower business to manage subscribers in new and unpredictable business contexts
Of course, ‘Subscribe Now’ is easy to install extension using your Magento admin panel and obtain user interface for the same in the backend of Magento 2 dashboard.
It comes with all advantages that a contemporary product should have. If you confer ROI you can secure using the extension of the kind, it is worth to spend some bucks on it.