In this day and age, we all want to make our lives as easy as possible, which is why subscription services have seen a considerable rise in the past 12 months.
All that is needed to manage a subscription is access to the internet, and boom, a customer gets a monthly treat sent straight to their door or continuous access to a specific service.
It's because of this rise in popularity that there are suddenly so many options available, from streaming services like Netflix and Amazon Prime to more tangible items like monthly magazines, makeup and even gourmet food.
What is a monthly subscription service?
A subscription service is an agreement between a business and a consumer whereby in exchange for a monthly direct debit, the consumer will receive goods either continuously (like a Netflix subscription) or once or more each month (like a Gousto subscription).
An alternative option is paying a monthly fee for specific benefits, like free delivery for those who subscribe to Amazon Prime. Why are subscription services so popular?
There are so many things that make subscription services so popular; here are eight:
#1 Waste reduction
Subscription services allow customers to fully manage how much they use from month to month, which reduces waste. In a world where we are looking towards climate change and maintaining our planet for as long as possible, this is highly beneficial.
You know how sometimes you forget something when you go to the supermarket, and it's usually the same thing you forget every time you go shopping? We're talking about hand soap or even toilet paper - extremely important but also entirely forgettable. Subscription services take the hassle and time out of having to remember. Instead, customers are guaranteed it every week or month, so they never run out!
Subscription services are super easy to manage. Options such as 'skip a month' can easily be implemented on SMS by integrating Blueprint to minimise churn. And with new integrations like SMSBump it's even easier to sign in and update an order.
Our client, Fresh Patch, implemented an easy 1,2,3 process to create a subscription, a model that's been working exceptionally well for them.
#4 They make excellent gifts
Everyone knows at least one person that is impossible to buy for. Subscription services are a unique idea that can be tailored to the person being treated. And if a subscription service provider gives the option of subscribing for three or six months or even a year, that makes the entire thing even more straightforward.
#5 A chance to try-before-you-buy
Many subscription services offer a try-before-you-buy package. This means customers can give the product a good test before committing to a full subscription but, most importantly, showcases to them that providers stand behind their products or service.
#6 An air of mystery
Some subscription services offer monthly mystery boxes, which means customers get a new product each month to try, like a new book. This brings a sense of excitement when it arrives on their doorstep and gives them the chance to try something new that they may not usually buy.
#7 Niche products
Some subscription services are niche and can include some very refined products from bath and body to fancy products for pets. This means that there are many options out there to choose from.
For example, our client Hunter & Gather provides niche condiments for specific dietary lifestyles.
#8 Low Costs
Subscription services are now very competitive, offering lower prices to regular customers, making it easy on their wallets, too. If you've been contemplating launching a subscription service online or transforming your current product offering into a subscription model, the team at Blend can help. We've not just watched this type of business model grow with fascination; we've been involved in a fair few, too.
How can Blend Commerce help
If you would like to partner with a knowledgeable team with lots of experience in harnessing the power of subscriptions, please get in touch.