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Subscription services offer an easy method for creators to make money from their creations and earn passive, recurring revenue. The service is perfect for software services, online courses, membership service collections, coaching, consulting companies, and much others. The e-commerce platform of's allows you to create and personalize a subscription service with just four steps.
How Does Subscription-Based Pricing Perform?
So how does an online subscription function? Instead of making a one-time payment for an item or service clients will be able to make regular payments--often to access a higher quantity of content for an affordable price in comparison to the purchase price upfront. There are a few different types of subscription models offered:
- Unlimited Subscription: Perhaps the most common type of subscription, unlimited subscriptions let customers subscribe to an ongoing service that will continue to run until the client decides to cancel.
- Limited Subscriptions: Often utilized to establish payment plans, limited subscriptions charge recurring payments for a limited amount of time.
- Offer Free Trials. You may offer a free trial to boost buying confidence by inviting interested buyers to try the service for free. What is the reason to offer a trial for free? Researchers from University of Washington University of Washington tested the effect of these promotional offers. The study concluded that seven-day free trials boost customer retention by 6.4 percent and boost the return on investment of subscriptions up to 7.91 %.
- Paid Trials: Maybe you want to give your customers the opportunity to try your services and offer a discount? The paid trial could be the solution you are looking for! It is also a reverse option, letting users set a more expensive upfront cost before unlocking an affordable subscription rate. A higher initial trial fee is typically used by companies to cover the cost of setting up and the onboarding process.
supports all of the subscription options to assist the online seller create their ideal subscription service. Follow our four-step tutorial on creating a recurring subscription service--with or without a trial. Or, watch below as co-founder, Scott Moran, builds an online membership service that is mock-up for an online online course that specializes in guitar-related training.
Subscription Step 1. Add a New Product
The Products tab of your Account, click the + New Products button. You can follow the on-screen guidance to fill out the form with your item's name and description.
Subscription Step 2: Recurring Pricing
Within the Pricing Type drop-down menu, click "Recurring." After that, set the parameters for your subscription.
- Subscription Price Input the default cost of your subscription or membership service.
- Recurring Period: You can decide to make the subscription renewal weekly, monthly, quarterly, or every year. This time period is a reflection of how often the customers will be paid.
Subscription Step 3: Free Trial Period
If you decide not to provide a trial subscription, simply leave the trial Period to off. But, should you opt to offer a trial you have two options:
- Free Trial: Switch the Trial Period to on and then choose Free Trial to give your customers free access to your subscription. You can then select how long your customers have access to this trial membership before their first payment is made.
- Paid Trial: Switch the Trial Period toggle on and choose Paid Trial to include the cost of a trial period upfront. After that, you can enter your initial price and the length you'd like this trial period to last.
Subscription step 4: Create Product
Once you finalize your subscription details, click Create Product. Clicking this button will direct you to the dashboard for your product which is where you'll be able to create your sales page, refine the details of your product, choose the payment method you prefer to begin selling your subscription.
How Can I Manage My Subscribers to My Customers?
automatically generates a portal where users can manage their subscription. However, still puts you in the driver's seat in your company by permitting you to choose which subscription features you extend to your customers.
- Self-Cancellation Feature: You can use the self-cancellation option when you wish to let customers to end their subscriptions at any point. This will free you from doing the groundwork when a customer wants to cancel or edit their subscriptions.
- Subscription Saver: what happens when customers fail to change their information on payment? 's Subscription Saver can help! Included in Scale and Enterprise memberships, this feature will automatically get involved in notifying and recovering customers who have their subscriptions denied by their payment method. The Subscription Saver helps keep subscribers from losing their subscriptions (and revenues) without from the stress of sending out an incessant email to your customers.
- The Subscription Charge Reminder You can choose whether or not to remind subscribers about the coming renewals of their memberships using's Subscription Charge Reminder.