5 advantages of subscription pricing

There are many benefits of subscription model pricing, we are here to share our top five and convince you to sell subscriptions today!

1. Sales are hard you don't need to start from scratch every month.

Recurring revenue means you can have repeat business from your existing customers by focussing on keeping them happy. Treat your existing customers like VIPs every single month. If they continue to see the value of your service the relationship will only get stronger!

Imagine starting the month with 50 orders already placed.

2. Customers get a discount

You can offer your customers a more competitive price. This is becasue you no longer need the cost of marketing the same subscription over and over again, you only pay to attract them once.

3. Subscriptions are growing, fast!

This business model is now the norm thanks to streaming services like Netflix. Disney+ expect to have 350 million subscribers by 2024, not to mention, they got 10 million on launch day! 😲

4. Replenishment subscriptions are a game changer!

Quick, think like a consumer, how many items do you use everyday that need to be replenished when they run out? I can already think of coffee, toothpaste, cereal. Then what about a sweet treat once a month? Cookies! If you buy the same item every time you run out or at the same stage each month why would you not want this automatically delivered to your home or office without ever having to think about it!

5. Subscribers are more loyal.

Maybe it's because they were able to get a discount, maybe they love you brand or maybe it’s just a lot more convenient, who knows? It's getting harder to build personal relationships with your customers, but those little touch points every month can help you connect and grow a lasting relationship.

I hate to scare you but... If your competitors offer subscriptions and you don’t, you should be concerned!

If you lose a customer to a competitor because of an offer (see above why subscriptions can be cheaper), you may never see them again if they are kept happy! They are effectively removed from the market. No matter how great your products are, saving people time/money and being convenient can be a massive contributing factor to them sticking with a subscription.

You have ZERO to lose with us!

With online shopping coming to the forefront over the past few months (it's only getting started, mark our words!) it has never been as important to offer your customers full flexibility when buying from you. Our mission is to allow small and medium-sized businesses access to online tools without the large upfront cost or the complex set up process.

At Nine we have no monthly fees, just a small 2% transaction fee (plus small fees from our card processor Stripe) – so if you don't make any sales, Nine costs you zilch!

With our experience running several businesses, we think you shouldn’t be paying for something if you don’t get value from it! We are confident in what our product does and would love to chat with you to see if we can help your business grow by introducing a subscription offering for your customers!

Convinced yet? Reach out and talk to us, we would love to help.