It's me, the subscription nerd!
In this newsletter, let's talk about why subscriptions are good for your bottom line. Let's dive in!
From Panera and Starbucks to Taco Bell... everyone is getting into subscriptions... If the big chains are doing it, there must be something in it for your business too!
1) It regulates your cash flow: predictable income makes sure you always have a base to pay your fixed costs.
2) Customers spend more in your shop: Subscribers are 60% more likely to spend more in your shop after becoming members
3) Customers visit more often: Subscriptions boosts traffic coming into your store(s). As I say: customers "stop thinking" where to go, they go where they are subscribed.
4) Better deal for customers: People are taking care of their budgets more than in previous years: if they can get a better deal in exchange of being loyal to your business, they are more likely to find your subscription an attractive offer.
5) You save on credit card processing fees: Every time a subscriber redeems, you're not paying any processing fees to Square.
You only pay the processing fee when the subscription renews once a month.
This means you can make an additional 5-10% per sale.
6) You have sold an item before even making it! You're increasing your profits by having people pay for items, even if they do not redeem all their subscription credits. You've sold the coffee without having to make it, isn't that great?
In the next newsletter, we will be breaking down the subscription options of a juice franchise and a coffee shop brand that use our service to power their subscription system, see you soon!
Was this newsletter useful? Do you have feedback? I'd love to hear it!
PS: if you're considering creating your subscription, you can schedule a call by clicking here to see if it's a good fit for your business.
here for a video
of Chandler from Black Press Coffee (one of our awesome customers) walking you through the subscription they offer using Subport, it's awesome!