lateshipment

MAY 21, 2021

Did you know that the average Customer Retention Rate (CRR) is just around 35% for eCommerce businesses. Just take a look at these stats 65% of a company’s business can be credited to existing customers. Companies have to spend 7 times more to get a new customer than to retain an existing one. Leverage email marketing.

Customer Retention 130

Customer Retention eCommerce Customer Social Media 130

FastSpring

MARCH 15, 2021

That’s the beauty of subscription models. While implementing a subscription model means ongoing revenue, it also brings up many challenges for managing those subscriptions. You have to create a subscription-friendly product, infrastructure, marketing plan, and customer retention plan. Ease of Distribution.

Subscription 147

Subscription Payment Services Shipping Costs Payments 147

GetElastic

SEPTEMBER 7, 2021

Just a few weeks after the unfortunate vitamin aisle experience a friend told me about a vitamin subscription company called Ritual. While the onboarding experience was fantastic, the subscription component is even better. All thanks to eCommerce subscriptions. The History of Subscriptions. And, I'm not the only one.

Subscription 148

Subscription eCommerce Shipping Costs B2B 148

GetElastic

DECEMBER 1, 2021

So it’s no surprise that after the COVID-19 stay-at-home measures were implemented, the demand for online subscription services spiked. As such, it is a great time for retailers to enter the market and add subscriptions services to their existing physical products or simply start from scratch. Why’s that you may ask?

Subscription 148

Subscription Payment Services Payments eCommerce 148

Retail TouchPoints

DECEMBER 15, 2022

It also offers loyalty amplifiers such as sweepstakes, UGC contests and trivia, with the goal of helping brands enhance customer acquisition, program onboarding and education, revenue, point burn, customer retention and brand advocacy.

Customer Retention 263

Customer Retention Customer Loyalty Subscription Presentation 263

FastSpring

OCTOBER 21, 2024

Some examples include: Seamlessly adding new payment methods to improve the customer experience. Using subscription management tools to improve customer retention. Authenticate accounts via account ID to ensure proper access to your products. The great part?

Payment Services 145

Payment Services Customer Retention Subscription Games 145

Kibo

FEBRUARY 3, 2023

In the midst of uncertain economic times, many businesses are considering subscription business models and how they can be used to drive customer loyalty. Despite the economic conditions, the subscription economy remains strong —the overall market has a predicted worth of up to $3 trillion.

Customer Retention 62

Customer Retention Subscription Payment Services Customer 62

Fabric Blog

AUGUST 8, 2021

Subscriptions can improve customer retention and drive revenue. From Amazon's Subscribe & Save to Youtube's Music subscription plan, countless companies have implemented subscription commerce and flourished because of it. They do so by offering recurring shipments of goods or prolonged access to services.

Subscription 98

Subscription eCommerce Customer Retention Improvements 98

Ecommerce Platforms

DECEMBER 12, 2022

The best Shopify subscription apps help busy entrepreneurs to rapidly process repeat payments from a range of customers. In fact, with the right app countless ecommerce companies can set up subscriptions for virtually any kind of product or service, boosting their chances of regular, recurring revenue. Recharge Subscriptions.

Subscription 118

Subscription Shopify Merchant Services Shipping Costs 118

Retail TouchPoints

AUGUST 7, 2023

For instance, if a customer wants a service that is not part of your core business, like a cybersecurity add-on, you can still provide the service from one of the businesses in your network of suppliers. Customers benefit from being able to pay as they go for the technology they are consuming.

Subscription 246

Subscription B2B Mobile Customer Experience 246

FastSpring

AUGUST 11, 2020

When it comes to software and online purchases, those transactions are increasingly moving to a subscription-based model, where customers put their purchases on autopilot so they can have continuous access to SaaS products. Subscription services are what customers want. How to move to a subscription revenue model.

Subscription 102

Subscription Payments Payment Services Shipping Costs 102

Ecommerce Platforms

JANUARY 13, 2022

Convenience is the name of the game for online subscriptions. Many online consumers even seek out dozens of subscription offerings to streamline everything in their lives, from cooking to cleaning, and razors to gift giving. Subscriptions play an essential role in simplifying lives, but they also make for a wonderful business model.

Subscription 104

Subscription Shopify Payment Services Merchant Services 104

Retail TouchPoints

JANUARY 18, 2022

Well-timed special incentives, like social kickbacks and rebates, can inspire customers to re-engage with your program after the holidays and cement their role as brand evangelists. Offer personalized benefits that evolve with customer needs. Personalization is critical to a comprehensive loyalty strategy and customer retention.

Customer Retention 290

Customer Retention Social Media Shipping Point of Sale 290

FastSpring

JULY 12, 2019

However, there’s one metric that doesn’t get as much attention—customer lifetime value. Since most SaaS and subscription-based businesses depend on recurring payments to sustain themselves, it can pay dividends to keep a close eye on lifetime value and customer retention rates. What is Customer Lifetime Value?

Subscription 85

Subscription Payment Services Payments Customer 85

BigCommerce

SEPTEMBER 21, 2018

After all that, there are some final factors you need to consider when calculating commissions, including customer retention and lifetime value. Know your customer retention rate. Your customer retention rate will play an important factor in the commissions you can offer.

eCommerce 344

eCommerce Customer Retention Payments Management 344

FastSpring

MAY 14, 2019

The way customers purchase software has changed and your business must adapt to stay competitive. Here’s how your company can benefit from switching from a perpetual license to a subscription plan. Reason #1: Subscriptions support product innovation. New customers are needed to finance the next ideation of your product.

Subscription 91

Subscription Payment Services Payments eCommerce Platforms 91

Ecommerce Platforms

FEBRUARY 25, 2019

This review takes an in-depth look at its features, hits and misses to help you determine if it is the right fit for your subscription business model. But first about the subscription market. The subscription industry has grown by more than 100% in the last five years. Subscription management. How does it work?

Payment Services 150

Payment Services Payments Subscription Shipping Costs 150

FastSpring

APRIL 11, 2019

We’ve seen explosive growth in the field of subscription and recurring billing with more and more software and SaaS companies discovering how impactful implementing a subscription model can be for their long-term growth plans. To help you make an informed decision, we’re exploring the subscriptions trends in today’s market.

Subscription 85

Subscription Payment Services Payments Shipping Costs 85

FastSpring

MAY 30, 2019

We’ve all heard how effective subscriptions can be for growing companies. Perhaps one of the biggest benefits of implementing a subscription model is that it allows software companies to avoid the unpredictability of one-time sales by guaranteeing a steady stream of revenue. What is Annual Recurring Revenue? How to Calculate ARR.

Subscription 72

Subscription Payments Payment Services Customer Retention 72

Retail TouchPoints

JULY 26, 2022

On the DTC side, Goodlife has leaned into this “replenishment resource” designation with its existing subscription program and a recycling initiative that is set to launch later this summer. The brand is now also carried at a number of other retailers including Saks Fifth Avenue as well as high-end resorts and specialty retailers.

Fashion 306

Fashion Clothing Apparel Subscription 306

FastSpring

DECEMBER 20, 2018

What’s the story with subscriptions? If your digital business is just getting off the ground, subscriptions can be a lifesaver. Thanks to heavy up-front customer acquisition costs, SaaS startups often struggle with cash flow issues until they recover their initial investment.

Subscription 74

Subscription Payment Services Payments Customer Retention 74

Retail TouchPoints

JUNE 23, 2022

If your customers are largely Gen Z students and millennial parents, accurate personalization can set you apart from competitors by making it easy for busy back-to-school shoppers to find exactly what they need. You can also use personalization data to create bundle and subscription offers tailored for your BTS customers.

Payment Services 304

Payment Services eCommerce Payments Retail 304

ESW

JANUARY 21, 2019

Subscription services make up a particular niche within the eCommerce world. From big names like Dollar Shave Club and HelloFresh to smaller, niche services like Expack, subscription boxes have been growing in popularity in recent years. On one hand, subscription services offer an exciting, convenient option for consumers.

Subscription 74

Subscription eCommerce Customer Experience Omnichannel 74

GetElastic

DECEMBER 18, 2020

To cater to better customer experience, convenience, and value-add capabilities, Gartner has suggested the addition of services to physical products such as: Subscriptions. Subscriptions. Subscription based models are at the center of recurring revenue in eCommerce. And what keeps the customers loyal you might ask?

Merchant Services 148

Merchant Services Payment Services Payments Subscription 148

FastSpring

MAY 30, 2019

We’ve all heard how effective subscriptions can be for growing companies. Perhaps one of the biggest benefits of implementing a subscription model is that it allows software companies to avoid the unpredictability of one-time sales by guaranteeing a steady stream of revenue. What is Annual Recurring Revenue? How to Calculate ARR.

Subscription 64

Subscription Payments Payment Services Customer Retention 64

Lemonstand

APRIL 17, 2018

There has never been a better time to start a subscription box service. From 2013 to 2016 alone , the number of visitors to subscription box websites has grown by over 3,000% — from 722,000 to 21.4 And as of March of 2016, there were more than 2,000 subscription box services in the U.S. A Few Subscription Box Service Winners.

Subscription 78

Subscription Payment Services eCommerce Platforms Payments 78

Optimizely

AUGUST 7, 2018

This data powers your ability to execute lifecycle marketing — a strategy to engage with shoppers in the most relevant way according to where they are in their customer journey. It really all comes down to: Are they a long-term loyal customer? Or a brand new customer? What customer lifecycle data do I need?

Marketing 199

Marketing eCommerce Multi-channel Customer Retention 199

Kissmetrics

MARCH 23, 2018

Amazon has a lot of the same problems that most retailers have when dealing with customer service. They still deal with customer complaints with varying degrees of success, just like everyone else. And customer experience can play a big role in customer retention and loyalty. Consider adding subscription services.

eCommerce 210

eCommerce Shipping Costs Subscription Payment Services 210

365 Retail

DECEMBER 20, 2023

What is customer retention? Customer retention refers to a company’s capacity to convert purchasers into repeat customers, preventing them from purchasing from a rival. Why is customer retention crucial for businesses?

Customer Retention 52

Customer Retention Customer Customer Loyalty Merchant Services 52

Smile.io

MARCH 12, 2020

Customer retention is the key to fostering truly loyal customers. These customers make more purchases than one-time shoppers, promote your brand to their networks, and become your best brand advocates. If customer retention wasn’t already on your mind, it needs to be! Challenge customers with gamification.

Customer Retention 46

Customer Retention Customer Beauty and Health Subscription 46

Kissmetrics

JULY 31, 2021

You can send the customers who bought a coffee machine a discount code for toasters, and send a control group a full price ad on toasters. Loyalty programs are crucial to any customer retention strategy, with 81 percent of millennials spending more money when they’re a member of a loyalty scheme. Create Loyalty Programs.

Download 361

Download Social Media Subscription Customer 361

Smile.io

MARCH 12, 2020

Customer retention is the key to fostering truly loyal customers. These customers make more purchases than one-time shoppers, promote your brand to their networks, and become your best brand advocates. If customer retention wasn’t already on your mind, it needs to be!

Customer Retention 46

Customer Retention Customer Beauty and Health Subscription 46

Retail TouchPoints

NOVEMBER 30, 2023

The innate connections we have with food and beverage brands, especially those we have grown up with, create a built-in opportunity for companies like PepsiCo to drive customer retention and loyalty.

Food and Beverages 304

Food and Beverages Games Consumer Customer Retention 304

Retail TouchPoints

JANUARY 3, 2024

After a failed delivery of a meal kit subscription led him down a customer service abyss, Zur realized that the experience he had anticipated for days fell apart in the last mile. Veho was built on this core insight: customer-first delivery experiences directly impact brands’ customer retention and customer lifetime value.

Retail 278

Retail Shipping Costs Improvements Customer Experience 278

ESW

MAY 23, 2018

Subscription programs can strengthen customer loyalty, reduce inventory risk, increase the lifetime value of each customer and boost ROI. The growth of subscription box services has been exponential over the past four years. It’s simple enough to manage 50 subscription orders each month, but what about 50,000?

Payment Services 60

Payment Services Subscription Operations eCommerce 60

SellBrite

JUNE 7, 2017

Savvy business owners know that customer retention is worth its weight in gold. The numbers say it all: it costs five times more to bring in a new customer than it does to maintain a current one and the odds of making a sale to a current customer are 60-70 percent compared to only a 5-20 percent chance of selling to a new lead.

Customer Loyalty 166

Customer Loyalty Social Media Customer Customer Retention 166

lateshipment

FEBRUARY 6, 2024

Talking about CLV, it’s a calculation used to assess the long-term financial value of a customer. Take this scenario, you possess a Netflix subscription that you renew for $22.99 The idea behind using Netflix as an example is that CLV is easy to calculate for a subscription-based business. every month.

eCommerce 130

eCommerce Customer Customer Retention Shipping Costs 130