The technological explosion of the early 21st century has changed the way people live their life and companies conduct business. Brick and mortar stores deciding to also sell products online was one big leap and digitally native vertical businesses (DNVB) choosing to sell products only on the internet was another.
Many DNVBs focus on developing a subscription-based model of online sales, and the improvement of ecommerce platforms specifically designed for such models has made it a very powerful method. Here are four reasons why your company will love subscription-based sales.
When customers are locked into a weekly or monthly transaction that is scheduled ahead of time, your business can more easily predict its revenues. It’s hard to get such consistent and reliable sales any other way.
Subscription models allow companies to have one strain of revenue that they can count on. If your business gets an ecommerce platform like LimeLight with advanced rebilling features that reduce the obstacles that may come between a customer and a sale, it’s a way to make predictable revenue even more reliable.
Selling products in the online world is all about how to best use and understand data, and there are subscription-based ecommerce platforms which give you all the insights you need to form strategy and drive revenue. You’ll get quick access to over 20 views into the trends of your business which let you understand your customer lifecycle and your company’s overall economic health.
See real-time visualizations of monthly recurring revenue, profits and loss, rebill rates, active subscription forecasting, cycle analysis, and more.
The right ecommerce platforms screen all your transactions in advance, so you can keep your business secure. Suspicious transactions get declined automatically, so you stay safe in a way which also does not consume any time.
The ecommerce platform itself should have expertise in security, but it’s even better if they also partner with industry leaders in detecting and managing fraud. This provides a double filter that will increase your order acceptance rates and reduce chargebacks.
You wouldn’t have a physical store without an alarm system, locks, and CCTV cameras. DNVB businesses have the equivalent in online security.
Third-Party Integrations Galore
When your online business partners with the right ecommerce platform, you’ll be able to seamlessly link up with third-party partnerships that enable you to deliver your product efficiently and securely, keep in touch with customers, and keep all payments secure.
You’ll have your choice of payment gateways, fulfillment centers, email marketing, affiliate marketing, chargebacks, call centers, anti-fraud services, membership services and more to choose from. Getting on the right ecommerce platform gives you real versatility and agility to stay fully connected with the leaders across the value chain.
Technology in the modern world has changed a lot in a short time, and the pace of evolution in online retail is only increasing. You will love having an ecommerce platform with turnkey solutions for all aspects of your business, so your subscription sales keep growing and are always reliable and secure.