Alessandro Bogliari, CEO and Co-Founder of The Influencer Marketing Factory, a global influencer marketing agency, talks with great guests about influencer marketing, social media, the creator economy, social commerce and much more.
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Content provided by Trevor Ginn. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Trevor Ginn or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.
Similar to How to Grow your eCommerce Business - Shopify, Amazon, eBay, Google and More!
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Launching a Subscription Program with Matt Holman from QPilot
Manage episode 341851998 series 2894616
Content provided by Trevor Ginn. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Trevor Ginn or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.
In this week's podcast, we talked to Matthew Holman from Qpilot about how to run a successful Subscription scheme.
What is an eCommerce subscription
Subscriptions are a part of eCommerce, which is experiencing strong growth. A four or five-fold increase is expected over the next few years.
There are two main types of eCommerce subscription
- Membership subscription, i.e. giving discounts and deals, e.g. Amazon Prime
- Automatic repeat purchases of physical goods, e.g. monthly subscription box
Many subscription services have been launched recently, and some commentators have suggested that subscription fatigue is setting in. However, if you can get it right, a subscription service will generate recurring revenue and help form a close relationship with your customers.
What kinds of products do subscriptions work best for?
Subscriptions are typically used for consumables, i.e. things which are used regularly e.g.
- Fresh food
- Food supplements
- Dog food
- Health and beauty products
These items are things which are used on a daily or regular basis and the customer is shopping for frequently. Getting products on a subscription saves the customer time.
Steps to launch a subscription business
Step 1. Understand your customer
To launch a successful subscription business, you need to understand your consumer and consider whether there are products they are currently getting elsewhere.
- Think about how you can add value to the consumer. Are there certain products which customers buy regularly?
- Are there products that would complement your current range that could be sold on a subscription basis? For example, could you start a pet food subscription offer if you sell pet accessories?
- Why should the consumer buy from you?
Step 2. Iron out your offer
Details to consider are:
- What frequencies will you offer? E.g. Weekly, monthly, quarterly
- Selection options. Is it a fixed offer, or can the customer selection options
Step 2. Choose a platform
You will need a platform to run your subscription service. There are 30+ apps on Shopify (of which Qpilot is one option). Compare the app's functionality against your proposed subscription offering and choose the one that bests fits your requirements.
How to promote a subscription service
Your offer should have a dedicated page on your site highlighting the features and benefits of your subscription scheme. Include:
- Subscription contents, i.e. what you get
- Subscription benefits. Why this helps the customer and the value it provides
- Highlight benefits such as environmental impact
- Subscription conditions. How will payment be taken, and how can the subscription be cancelled
To promote your subscription scheme, start by promoting the scheme to customers who are already frequently buying from your site.
Qpilot recommends giving a discount of no more than 10%. Pricing too low will leave less room for discounting in future. For example, You might want to run a sales event over a holiday weekend to drive additional sales
Improving performance
Understand your customers
Subscriptions can be very profitable as customers buy for several months before cancelling. Ask customers why they sign up and leave the programme to improve performance. By understanding why people leave, you can change your programme to improve performance.
Reducing churn
There are two types of churn
- Passive churn. Customers forget to update their payment details so the subscription expires
- Active churn. Customers elect to leave the programme
To reduce churn, ask customers why they leave the programme. For example, they m
85 episodes
Launching a Subscription Program with Matt Holman from QPilot
How to Grow your eCommerce Business - Shopify, Amazon, eBay, Google and More!
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Manage episode 341851998 series 2894616
Content provided by Trevor Ginn. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Trevor Ginn or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.
In this week's podcast, we talked to Matthew Holman from Qpilot about how to run a successful Subscription scheme.
What is an eCommerce subscription
Subscriptions are a part of eCommerce, which is experiencing strong growth. A four or five-fold increase is expected over the next few years.
There are two main types of eCommerce subscription
- Membership subscription, i.e. giving discounts and deals, e.g. Amazon Prime
- Automatic repeat purchases of physical goods, e.g. monthly subscription box
Many subscription services have been launched recently, and some commentators have suggested that subscription fatigue is setting in. However, if you can get it right, a subscription service will generate recurring revenue and help form a close relationship with your customers.
What kinds of products do subscriptions work best for?
Subscriptions are typically used for consumables, i.e. things which are used regularly e.g.
- Fresh food
- Food supplements
- Dog food
- Health and beauty products
These items are things which are used on a daily or regular basis and the customer is shopping for frequently. Getting products on a subscription saves the customer time.
Steps to launch a subscription business
Step 1. Understand your customer
To launch a successful subscription business, you need to understand your consumer and consider whether there are products they are currently getting elsewhere.
- Think about how you can add value to the consumer. Are there certain products which customers buy regularly?
- Are there products that would complement your current range that could be sold on a subscription basis? For example, could you start a pet food subscription offer if you sell pet accessories?
- Why should the consumer buy from you?
Step 2. Iron out your offer
Details to consider are:
- What frequencies will you offer? E.g. Weekly, monthly, quarterly
- Selection options. Is it a fixed offer, or can the customer selection options
Step 2. Choose a platform
You will need a platform to run your subscription service. There are 30+ apps on Shopify (of which Qpilot is one option). Compare the app's functionality against your proposed subscription offering and choose the one that bests fits your requirements.
How to promote a subscription service
Your offer should have a dedicated page on your site highlighting the features and benefits of your subscription scheme. Include:
- Subscription contents, i.e. what you get
- Subscription benefits. Why this helps the customer and the value it provides
- Highlight benefits such as environmental impact
- Subscription conditions. How will payment be taken, and how can the subscription be cancelled
To promote your subscription scheme, start by promoting the scheme to customers who are already frequently buying from your site.
Qpilot recommends giving a discount of no more than 10%. Pricing too low will leave less room for discounting in future. For example, You might want to run a sales event over a holiday weekend to drive additional sales
Improving performance
Understand your customers
Subscriptions can be very profitable as customers buy for several months before cancelling. Ask customers why they sign up and leave the programme to improve performance. By understanding why people leave, you can change your programme to improve performance.
Reducing churn
There are two types of churn
- Passive churn. Customers forget to update their payment details so the subscription expires
- Active churn. Customers elect to leave the programme
To reduce churn, ask customers why they leave the programme. For example, they m
85 episodes
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Similar to How to Grow your eCommerce Business - Shopify, Amazon, eBay, Google and More!
Alessandro Bogliari, CEO and Co-Founder of The Influencer Marketing Factory, a global influencer marketing agency, talks with great guests about influencer marketing, social media, the creator economy, social commerce and much more.
…
continue reading
The fun email marketing podcast. Sell more of your online courses, grow your membership and bring in more coaching clients with email marketing that doesn't stink. Sound good? Then join your fellow Email Marketing Heroes for your weekly dose of fun, practical, yet brutally honest email marketing advice. You can listen in to a piping hot, fresh episode every 'Email Marketing Wednesday' or if you prefer learning with your eyes instead of your ears, we turn each episode into a full written blog ...
…
continue reading
Kipp Bodnar (HubSpot’s CMO) and Kieran Flanagan (Hubspot's SVP of Marketing), lead you down the rabbit hole of marketing trends, growth tactics and innovation. On the way you’ll pick up undiscovered strategies to give you that slight edge for success. These are not your typical twitter thread regurgitated marketing tactics that everyone is doing. These are new methods, with unfiltered examination of successful fresh ideas.
…
continue reading
1
The Brutal Truth about Sales and Selling - We interview the world's best B2B Enterprise salespeople.
Brian Burns
11k279
No BS Allowed - Are you sick of empty suits telling you to work harder? - Learn about The Maverick Selling Method, which models the world's best salespeople and what they do differently. If you are in sales and are passionate about selling, you will like this podcast. The focus is on b2b sales and selling. If you are selling or in sales, this podcast is for you. I cover cold calling, spin selling, challenger sale, solution selling, and advanced selling skills. Strategic selling, LinkedIn, sa ...
…
continue reading
Insightful interviews with authors, experts, entrepreneurs, and thought leaders who share valuable marketing tips, growth strategies, and resources. Hosted by John Jantsch, one of America's top small business marketing experts, this show is dedicated to helping you craft effective marketing strategies that will grow your business. Whether you're a small business owner, marketing professional, or marketing agency owner, you'll gain valuable insights and actionable advice on topics such as mar ...
…
continue reading
Some Goodness is hosted by Richard Ellis, a seasoned sales leader passionate about inviting top business minds to share their wisdom. Each episode is only 15-20 minutes, perfect for your commute or workout.
…
continue reading
Big tech is transforming every aspect of our world. But how, and at what cost? This season of Land of the Giants – The Disney Dilemma – focuses on Disney’s ability to weather the ups and downs of the business cycle and changing tastes and explores what has kept it successful for over 100 years. The entertainment giant has leveraged nostalgia and its intellectual property to build a beloved brand, but after an acquisition spree that included Marvel, Lucasfilm, and 20th Century Fox, can it sus ...
…
continue reading
Business tips for startups by proven entrepreneurs
…
continue reading
Call them changemakers. Call them rule breakers. We call them Redefiners. And in this provocative podcast, we explore how daring leaders from across industries and around the globe are redefining their organizations—and themselves—to create extraordinary impact in today’s rapidly changing world. In each episode, Russell Reynolds Associates Leadership Advisor Hoda Tahoun and former CEO Clarke Murphy host engaging, purposeful conversations with leaders in and out of the business world who shar ...
…
continue reading
Welcome to the What’s Next! Podcast. I’ve met so many brilliant people as I traveled the globe and have had some fascinating conversations that I’ve wished had been recorded so I could share them with you - this podcast was a way for me to recreate those moments and let you in on some fantastic insights. My current conversations center around one objective: what's next for companies and individuals as they look to innovate and grow. I hope these conversations inspire you as much as they have ...
…
continue reading
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Go offline with the Player FM app!
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