One of the most challenging parts of being an entrepreneur or just running any business, is ensuring a regular income and increasing customer loyalty. This is why subscription packages work so well. The answer to all our prayers. Making the business owners and the customers' lives easier. Research from Manifesto Growth Architects has revealed that 70% of businesses believe that subscription models hold the key to future commercial growth. So what’s the big deal then? Here are three reasons why you should be offering subscription packages.
3 Reasons Why Your Business Should Be Offering A Subscription Package
1. Makes It A Lot Easier To Build A Relationship With Your Customers
Subscriptions can help you grow a long term, loyal customer base. Once signing up for a subscription the customer is likely to be with you for a while (or at least it's your job to make sure they do). The longer a customer is with you, the more loyal they’ll become. This loyalty can result in them becoming an advocate for your brand. They’ll shout about it to their friends. And who doesn’t trust a friend's recommendation?
2. Who Doesn’t Want Consistent Income?
Subscription packages will make your life a lot easier. With a secured income at the end of each month you’ll have more time to focus on content quality and your relationships with your audience.
3. More Convenient For Customers
In these times convenience is key. Whether it's the ease of ordering groceries to your door or minimizing the time spent paying bills at the end of the month. Subscriptions are extremely attractive to consumers. The ease and discounts, make it a no brainer for most individuals. The best way to achieve this is to offer three types of subscriptions. Most people go for the middle one so make sure it’s the ideal choice for your business. These three options offer flexibility and give your customers choice and control. If you want to go a step further, allow your customers to personalize their subscription. This is likely to decrease the chance of subscription cancellation.
