Webinar Recap: Selling Subscriptions on BigCommerce

Tightening data regulations, growing acquisition costs and an uncertain economy are influencing BigCommerce merchants to focus on long-term retention rather than short-term revenue gains. During this time of financial uncertainty, many ecommerce brands’ survival hinges on their ability to maintain their current customer base.

“Your marketing dollars are being stretched thinner, customers’ wallets are growing tighter and shoppers are getting more selective with their spending,” said Collin Robinson, product marketing manager at sticky.io. “All of these issues point to retention and revenue sustainability as the solution.”

Notable retention trends include email newsletters, personalization and recurring orders — three factors included within a robust subscription program. Collin recently sat down with Greg Austin, our director of sales engineering, to discuss the benefits of selling subscriptions on BigCommerce and tips for starting and scaling your program.

Why BigCommerce Merchants Should Sell Subscriptions

Subscriptions allow customers the exploration, value and convenience they crave while also giving merchants several benefits, such as:

Recurring Revenue from Repeat Purchases

In a volatile economy, selling subscriptions gives merchants the stability they need to continue growing their business and brand.

“A business model that’s solely predicated on one-time purchases might see surges in customer buying early in the relationship, but their attention shifts elsewhere over time and revenue dwindles,” Collin included. “A business model that incorporates one-time purchases and subscriptions gets the best of both worlds.”

While it may seem easier to bring in revenue through large one-time orders, subscriptions supply that low-maintenance recurring revenue that powers your business through times of uncertainty.

Simpler Inventory Planning

Accompanied by a volatile economy is an unpredictable global supply chain. However, subscription merchants are in a fortunate position — they can roughly predict future product demand before it’s too late. For example, a candle company that has 125 active subscriptions knows exactly when these subscribers expect their candles, how many to send and their level of inventory after each shipment.  This allows merchants to better plan the shipping and fulfillment process to avoid possible disruptions.

Deeper Subscription Customer Bonds

Subscription data allows merchants the information they need to create personalized offers and individualized communications with their customers. Brands can build deeper connections with consumers and drive customer obsession by using customer data to give subscribers opportunities to discover new and exciting products.

“Subscriptions can give you deeper insights into your customers at a time when they’re more protective than ever of their personal data,” Collin stated.

Not only can subscription data keep customers engaged, it can also reengage reluctant subscribers. Merchants can use individual subscriber data to identify and save customers who are at risk of churning by creating personalized offers and messaging.

Lower Acquisition Costs

Finally, subscriptions attract high-value customers who will stay loyal to your brand for months or even years to come, essentially lowering average acquisition rates and extending your customer lifetime value. The combination of personalized offers, frequent communication and recurring orders keep subscribers engaged and content with their subscriptions. Ecommerce success depends on the customer experience, and subscriptions bring subscribers to the forefront of that experience.

Must-Have BigCommerce Subscription Features

While you may know which product you’d like to offer as a subscription, there are more pieces to the subscription puzzle. The sticky.io Subscriptions app for BigCommerce considers all the details you may be overlooking, such as:

• Native app integration: As the only subscription app that integrates directly within BigCommerce, the sticky.io app is quick to launch and works seamlessly into your overall customer experience. After onboarding, we have a robust library of self-service resources including walkthrough videos and how-to articles to simplify the launch process. But even with in-depth resources, it’s still important to have individual help. Our expert team supports your unique business needs through the entire setup process.
• Subscription pricing and flexibility: Consumers use subscriptions to access a higher level of flexibility when online shopping, and it’s important to allow them the autonomy they desire. Customers want the ability to pause, cancel or change their subscriptions without consequences. The sticky.io app allows users to choose their initial subscription frequency as well as change the shipment date or products within the order. If this sounds like too much control on the customer’s end, merchants can disable these actions within the consumer portal.

• Customer connectivity tools: It’s important to keep your customers up to date as you maintain your subscription relationship. That’s why the sticky.io Subscriptions app integrates directly with Mailchimp and Klaviyo to seamlessly send subscription notifications such as rebill reminders, billing confirmations and status changes to keep subscribers in the loop.
• Holistic support: From our U.S.-based client success team to in-app analytics, the sticky.io team has your back. An in-depth data overview includes dashboards for subscriptions, churn and product forecasting, allowing you to analyze and adapt for future growth. If you run into any issues or questions, our in-house support team is available via live chat, phone or email to help every step of the way.

Sell Subscriptions With the sticky.io BigCommerce Subscription App

Ecommerce is quickly changing — you need the tools to adapt and meet customers’ needs as they evolve. The sticky.io Subscriptions app for BigCommerce allows merchants to create deeper connections by utilizing the power of personalization and adaptability.

Take the first step toward creating recurring revenue on the sticky.io Subscriptions app for BigCommerce. Watch the on-demand webinar now.