Capture Residual Revenue with Recurring Payments
Can you guarantee how much money your store is going to make this month? If you offered subscription-based products, you could do just that.
With Subscriptions, you can create and manage products with recurring payments — payments that will give you residual revenue you can track and count on.
Subscriptions allows you to introduce a variety of subscriptions for physical or virtual products and services. Create product-of-the-month clubs, weekly service subscriptions or even yearly software billing packages. Add sign-up fees, offer free trials, or set expiration periods.
A subscription-based model will allow you to capture more residual revenue — and all you have to do is ship the orders.
Why Use Subscriptions?
- Multiple billing schedules available to suit your store’s needs
- Integration with over 25 payment gateways for automatic recurring payments
- Supports manual renewal payments through any payment gateway, along with automatic email invoices and receipts
- Supports automatic re-billing on failed subscription payments, so you never lose revenue
- Give subscribers the ability to manage their own plan, including upgrading or downgrading, without needing to wait on you for help
- Built-in renewal notifications and automatic emails let you — and your customers — know when subscription payments have been processed, so there are never any surprises
- Detailed reports allow you to keep track of recurring revenue, number of active subscribers, and more
Free Trials & Sign-Up Fees
Charge an initial amount to account for customer setup costs, or allow customers to try before they buy, by adding sign-up fees and free trials to any subscription product.
Create variable subscription products and allow your customers to choose a subscription that suits their needs. You can even allow customers to choose their own billing schedule.
Store owners get full-featured subscription management via the Commerce > Edit Subscription administration screen. You can suspend or cancel a subscription, change the trial expiration, add items, shipping, fees or taxes to the subscription or modify the recurring total for future payments.
Subscriber Account Management
Your customers can also manage their own subscriptions. With the My Account > View Subscription page, subscribers can suspend or cancel a subscription, change the shipping address or payment method for future renewals and upgrade or downgrade their subscription.
If you only want ship on certain days of the month, or align all customers to the same annual membership term, you can with Subscriptions’ renewal synchronization feature. You can even prorate the first payment of a synchronized subscription purchase.
Allow customers to upgrade, downgrade or cross-grade between different subscription products. With flexible proration options for the recurring amount, sign-up fee and length, you can also customize the costs of switching to a new subscription product to suit the needs of your store.
Flexible Product Options
When creating a subscription product, you can make the product downloadable, virtual or physical, charge renewal payments weekly, monthly or annually, limit the product to one-per-customer and even charge shipping only on the initial order.
Your customers can also purchase different subscription products in the same transaction and Subscriptions will group the products to reduce the payment gateway fees and logistical overhead for their future renewals.
Offer customers a discount on their monthly payments or just the sign-up fee. Subscriptions includes both recurring discount coupons and sign-up fee coupons.
Automatically notify customers when a subscription renewal payment is processed, a subscription is cancelled or when a subscription has expired with the built-in subscription emails.
Capture More Residual Revenue
Whether your goal is to ship a surprise bundle of products to faithful customers every month or bill them for an in-person service provided by your small business, Subscriptions can take the stress out of capturing that all-important residual revenue.
You’ll be able to track just how many subscribers you have, when they’re being billed, and how much revenue you’re generating — meaning you’ll always know how much revenue your store can count on as you continue to grow.
- Includes licensing and ongoing maintenance.
- Does NOT include ongoing administration or configuration changes.
- Hourly fees may apply.
- Includes installation, updates and verification of the system.
- Does NOT include setup.
- Hourly fees may apply.