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Subscriptions are a simple option for creators to earn a profit from their creations and earn passive, recurring revenue. It is a great option for online courses, membership service collections, coaching, consulting businesses, and other services. The e-commerce platform of's allows you to create and personalize a subscription service within four easy steps.
How Does Subscription-Based Pricing Function?
What exactly is the subscription model work? Instead of making a one-time payment for an item or service the customer will pay recurring payments--often to access a higher volume of content at an affordable price in comparison to the purchase price upfront. There are a few different forms of subscriptions available:
- Unlimited Subscription: Perhaps the most common subscription form Unlimited subscriptions allow customers to sign up for an ongoing service that will continue to run until the client can cancel.
- Limited Subscriptions: Most often utilized to establish installment plans for payments, these types of subscriptions charge recurring payments for a specific amount of duration.
- The Free Trial Option: can provide a trial for free to boost buying confidence by letting interested customers try your service at no cost. What is the reason to offer a trial for free? Researchers from University of Washington University of Washington tested the efficacy of these offers. The study concluded that seven-day trial trials for free increase retention by 6.4% and increase a subscription's revenue return up to 7.91 %.
- Paid Trials: Maybe you'd like to offer your customers a way to experience your service at offer a discount? A paid trial is the solution you are looking for! This feature of paid trials can also work in reverse--letting you choose a greater price upfront before gaining access to a lower subscription price. The higher upfront trial costs are often used by businesses for a way to pay off set-up expenses and onboarding labor.
Supports all these models of subscription to help online sellers design their perfect subscription service. Check out our step-by-step procedure for creating a recurring subscription service--with or without trial. Or, watch below as Co-Founder, Scott Moran, builds an online membership service that is mock-up to an online course that specializes in guitar-related training.
Subscription Step 1. Add a New Product
The Products tab of your Account, click the + New Products button. You can follow the on-screen directions to fill out the form, including your product's name and description.
Subscription Step 2: Recurring Pricing
In the Pricing Type drop-down menu, choose "Recurring." After that, set the parameters of your subscription.
- Subscription Price: Enter the default price of your subscription or membership service.
- A Recurring Time: You may decide to make the subscription renewal every week, month-to-month, quarterly, or annually. The duration of the subscription reflects how often customers are paid.
Subscription Step 3 Free Trial Duration
If you choose not to include a subscription trial just turn off the Trial Period toggle off. If you decide to add a trial there are two choices:
- Free Trial: Switch the Trial Period to on and then choose Free Trial to give your customers free access to your subscription. It is then possible to choose the length of time that customers will be able to access this trial membership before their first payment is made.
- Paid Trial: Switch the Trial Period to on, and then select Paid Trial with the cost of a trial period upfront. Then, enter your initial price and how long you would prefer this trial to run for.
Subscription Step 4: Design the Product
Once you finalize your subscription details, click Create Product. The button will take you to the dashboard for your product in which you will be able to build your sales website, modify your product details, select the payment method you prefer, and start selling the subscription.
How do I manage my Customer Subscriptions?
automatically generates a portal where users can manage their subscription. However, still puts you in the driver's seat for your business, allowing you to customize what subscription options you provide to customers.
- Self-Cancellation Feature: You can enable the self-cancellation feature if you want to allow subscribers to cancel their subscription anytime. This feature can save your time and effort in the event that a client wants to change or cancel the subscriptions they have.
- Subscription Saver: What happens when customers do not update their payment information? 's Subscription Saver can help! In Scale and Enterprise memberships, this function will immediately go working in contacting and regaining customers whose subscription charges are declined by their payment source. The Subscription Saver can help you avoid losing subscribers (and revenue) while sparing you the hassle of sending frantic emails to customers.
- The Subscription Charge Reminder Users can choose whether or not to notify subscribers about coming renewals of their memberships using's subscription charge reminder.