Module 3, Lesson 2: Subscription business model

Course content (20 lessons)

The subscriptions business model is a great way to increase the frequency of repurchase from your customers. If you have a store with products that customers could buy over and over again and are easily replenishable, the subscriptions option is something you could implement in your online store.

[MUSIC PLAYING] The best way to increase the repurchase rate and retention is to introduce a subscription business model. This is a little bit tricky and complex, and not all businesses are able to integrate such a business model. But if you have a replenishment product, you certainly should. For example, the Butcher Box, they sell meat online, and you can select the frequency you can receive your monthly box or your weekly box.
But if your product is not a replenishment product-- for example, you are into fashion, a great example out there like freshly picked with the [INAUDIBLE] we're able to introduce a subscription within that ecosystem. Basically, you let the customer pay $20 per month. And they access to a special discounted list of product, and those $20 become points, points that you can redeem in order to purchase your next product.
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Write down all the possibilities you have as a business to introduce a potential subscription model to your business
If your product has the potential to become a subscription business go ahead and install the apps ReCharge app or Bold subscription.

Module 3, Lesson 2: Subscription business model

Course content (20 lessons)

Module 0: Overview

01 |Module 1: What Really Matters

02 |Module 2: How to Improve KPI #1 (Average Order Value)

03 |Module 3: How to Improve KPI #2 (Frequency)

04 |Module 4: How to Improve KPI #3 (Conversion Rate)