Every store owner wants to improve its profits. However, not all of them know the best ways to improve their profits with the same products that they are selling.
Those that know how to improve their profit don’t share their tricks and thus the knowledge of improving business profits remains with just a few. In this article, we are going to share one specific trick that can help you easily improve your business growth.
But before that, let’s think. Is it possible to get recurring customers for your products?
What if you can sell more of your products during the same period just by creating packages? That’s where subscription services come in handy.
If you are selling the same products to your customers every month. Then, you can easily create subscription packages for them and they can subscribe to them instead of buying the same product every month.
How to Determine If Your Product Can Be Sold as a Subscription?
- Your products are bought on a monthly basis.
- Almost the same customers buy your products
- Your product has more than 100 repeat monthly customers
- Your products can be sold as a combo deal to your customers
- Your customer-base rarely changes
If your product checks all points in the above list, then you can offer it as a subscription to your customers. The best part about your subscription service is that you can offer it at a discount to your current customers. Since your customers are already recurring, they will be more than happy to subscribe if they receive a discount for the total package.
Once you have decided on the customers for your products and the product bundles, it is time to create packages and set their prices.
- Try to offer at least 15% discount to your customers so that they are more than willing to subscribe to the annual bundles.
- Keep a margin so that you don’t go in loss. The purpose of your business is to earn a profit on all the products you sell. So, make sure you always remain in profit.
- Subscription boxes should be used as a whole new way of marketing your products so that you can grow your business at the same time.
What is WooCommerce Subscription? Plugins Explained
Why is the Netflix model so popular and successful? Because it offers a subscription service instead of a one-time sell. Netflix has over a million customers all paying almost $10 per month for the subscription. That’s around a billion dollars per month for Netflix. However, it has only a staff of a few 100 people and the majority of the amount goes back into business.
Now imagine. If Netflix had offered a one-time fee for the service, would it be successful? Nope.
That’s the beauty of a subscription service. You can get recurring customers because they like your product.
The best part about WooCommerce is that you can easily add a subscription service to your store offerings just by adding a subscription plugin. Subscription plugins allow you to customize your offerings for products and sell more of the same repeatedly. Where your customers would have bought one item at a time, they are now ensuring a continual purchase through the subscription they buy.
The subscription model is also great for your customers as they can cancel it anytime without any additional charge. It is a win-win for both, you and your customers.
Benefits of Subscription Model:
- Subscriptions are auto renewal. This means that you won’t have to buy the subscription service again and again. Your users once subscribe to the service and the total monthly amount will be transferred to your website account every month.
- You can offer customized packages for each subscription so that users can choose a package that suits them best and buy that.
- You can add expiry dates to each subscription service to create a sense of urgency among customers.
Why WooCommerce Subscription Plugins?
Now that you have selected your products and set your prices, it is time to select a subscription plugin that can allow you to offer your subscription packages to the users.
WooCommerce and WordPress plugins have made this process a lot easier. Without these plugins, you would have required the services of a developer to create customized subscription packages and then offer them through your website.
But with the plugins available, you can select any one of them that you like best and offer the subscription packs. You can also promote them to users through multiple channels without overburdening your website resources.
We have created a list of the best WooCommerce subscription packages that you can use.
List of Best WooCommerce Subscription Packages
Here is a list of the best subscription plugins that you can easily install on your WordPress or WooCommerce website for a recurring commission.
WooCommerce Subscriptions
WooCommerce Subscriptions plugin makes the life of subscription providers easier. With this plugin, you can easily sell subscriptions of hardware and software products. Since the subscriptions are auto-recurring, you won’t need to check the plugin, again and again, each month.
The plugin works independently with a payment gateway and collects subscription charges from all customers on a regular basis (weekly, monthly, and annually). Users can easily unsubscribe from the service if and whenever they want. It also offers a tracking mechanism whereby sales teams can easily track user progress and users can get in touch with the sales representatives whenever they have a question.
It is compatible with over 24 payment gateways and runs PayPal as the default gateway.
Cost $199 Only
Yith Woocommerce Subscription
YITH WooCommerce subscription makes your product accessible to users for a subscription fee. You can schedule the time for payment to weekly, monthly, or annually or any custom duration that both parties have agreed on.
The plugin can be used for any type of online or offline services that you are offering to the users. These can be user reviews, videos, learning courses, podcasts, hosting reviews, or hard products such as combo packs. Users can upgrade or downgrade their packages depending on their needs.
YITH comes with a reminder system that allows users to easily get notified about their package plans and expiry dates.
It also notifies about expired credit cards to users and to the site owners. Users can also pause their subscription or cancel it altogether if they are not interested in the service any longer.
YITH subscription plugin only accepts PayPal gateway as of now. However, it offers a lot of customization options that other subscription services simply don’t offer.
Cost $103 Only
Subscriptions for WooCommerce by WebToffee
WebToffee offers a subscription service to WooCommerce store owners. This subscription service allows users to easily get recurring payments and billings for their ecommerce stores. The plugin is available for free and can be tried even without buying the premium package.
The WebToffee plugin can be used for both physical and digital products and it is very easy to set up. The plugin can be synchronized with your existing packages. It also gives the option for free trials, signup, and recurring subscriptions. Moreover, it is compatible with multiple payment gateways so you can be rest assured that payment gateways are not going to be an issue.
Cost Free. Paid versions costs $199
Subscriptio – WooCommerce Subscription
Subscriptio is a great WooCommerce subscription plugin that allows users to easily sell both software and hardware products on subscriptions. Users can easily sell online memberships, e-learning packages, magazine subscriptions, and similar other products.
The tool offers a separate dashboard for each user where they can manage the campaigns, add or remove lists that have subscriptions available, The plugin also allows users to configure trial periods or recurring payment systems for each product separately. The plugin is fully active and works with leading payment gateways like Stripe & PayPal.
Cost $199 for Single License
SUMO Subscriptions
If you are looking for a subscription plugin that lets you provide customized subscription solutions then SUMO subscription is the best you have got. The subscription solution allows you to easily create and sell subscription products from your ecommerce store. Moreover, the plugin is completely compatible with WooCommerce and WordPress based ecommerce stores. It also supports payment gateways like Stripe, PayPal, and various others.
Sumo subscriptions have also introduced a Reward points system that allows users to easily get points for being loyal to the ecommerce store. Through the reward points, they can get cash back and many other services. Users also get email reminders, automatic subscription renewals and a lot more. Offers free trial and signup.
Cost $49.99 for One Store
All Products for WooCommerce Subscriptions
If your customers consume products on a regular basis and purchase again, you can save them from this hassle by introducing a subscription service. With the subscription offers, your customers won’t have to buy the products again and again. Instead they can simply subscribe to your package and get the products they want.
The All Products WooCommerce subscription package is simple to use, offers multiple packages, and allows you to easily build trustworthy relationships with your customers without changing the core business model.
All Products Subscription plugin offers configurable packages, creates customized package plans from the products already added to customer’s cart, and adds subscription plans to existing products.
Cost $79 Only
How can WooCommerce Subscription Plugins Increase Store Sales?
Many subscription services are now available in the market. We have the examples of BirchBox, a fashion product seller, barkbox, a dog food basket subscription service, Dollarshaveclub, a subscription service of men’s grooming products, and a lot more.
All of these are thriving because they offer a monthly dose of new items to their customers. Where customers had to purchase the same products from these stores every month, they can now do so by subscribing to the service. Once subscribed, they will get the subscription boxes delivered to their addresses every month.
- The best part about these subscription boxes is that they are discounted. Since subscriptions mean loyal customers, companies offer them extra benefits by giving discounts or providing more value for the money.
- Another advantage of these subscription boxes is that they get even cheaper when you buy the subscription for the whole year instead of just one month. This is because when you buy a subscription for the year, the life-time-value (LTV) of a customer increases to 12 months instead of just one month. This means more profit for the company and it rewards the customer by decreasing the total cost.
Bottom Line
We hope that these WooCommerce plugins will help you increase your business profit and revenues. All the plugins that we listed in our article are fairly easy to customize. You won’t even need the services of a website developer to configure and manage them. They also offer proper documentation and customer support. So, if you ever get stuck somewhere, you can get help from the official teams.
With that said, if you are still unsure how to configure and install WooCommerce plugins on your website, then our WooCommerce experts can help you with that. We have a team of WordPress and WooCommerce solutions experts that can help you easily manage, optimize, and customize your WooCommerce stores in any way you want.
