βSubscription Setup
Creating and managing subscription plans is a pivotal aspect of Subrise Subscriptions. This guide will walk you through the intricacies of setting up your plans, ensuring you're well-equipped to offer a compelling subscription service to your customers. Let's break down everything you need to know about Subscription Plans.
Understanding Subscription Plans
Subscription Plans are the backbone of your subscription model, defining how and when your customers are billed and receive your products. A well-structured plan can significantly enhance customer retention and revenue stability. Here's what you need to know to create an effective plan.
Billing Frequency vs. Order Frequency
Billing Frequency: This determines how often your customers are charged for their subscriptions. Common intervals include monthly, quarterly, or annually.
Order Frequency: This specifies how often orders are shipped to your customers. Like billing frequency, this can be set to various intervals.
Syncing Frequencies
Subscription Plans can have synced or divisible frequencies, depending on how you wish to bill and fulfill orders:
Synced: Billing and order frequencies match (e.g., charged and shipped monthly).
Divisible: Billing frequency is longer than order frequency (e.g., charged every 3 months but shipped monthly).
Discounts and Incentives
Offering discounts can significantly boost the attractiveness of your subscription plans:
Fixed Discount: Apply a constant discount rate to your subscription plan. This can be a percentage off or a fixed amount.
Discount Cycles: Implement discounts that apply for a set number of billing cycles, encouraging longer subscription commitments.
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