4 Key Features of a Subscription Box System
Subscription box companies are in the business of providing quality products conveniently and reliably. That means it’s crucial to have the technology and operations in place to make all customer service interactions and marketing efforts run as smoothly as possible. The right solutions and partnerships allow a company to build strategically on its subscription model.
Robust, high-quality systems for accepting payments and ecommerce order fulfillment enable an organization to develop long-term connections with subscribers. When a subscription-based business is looking for tools that will keep it growing and thriving in the years ahead, decision-makers should take into account these four key features:
1. Extensive billing options
Using a quality order management system, a subscription company can tailor choices for billing to fit its business model and the needs of customers. Along with access to secure payment processing and flexible invoicing, organizations select from a variety of approaches to charging subscribers:
- In negative option billing, the customer agrees to continue receiving packages and paying, unless he or she actively requests to stop.
- Delayed invoicing or installment billing may encourage customers to continue subscribing.
- Automated charges make repeated payments from the same card a simple process.
2. Range of account settings
Subscription-based organizations can optimize the customer experience and function more effectively when they have the ability to adjust many aspects of how subscriber accounts work. Companies can establish global settings such as how frequently products are selected and how to handle issues with non-payment. These possibilities include modifying the late fees tied to partially paid invoices and specifying parameters for how to recover funds in the case of a declined credit card.
At the level of individual accounts, companies may establish special programs and clubs or allow someone to receive multiple products in a single shipment. There could be flexibility in how long a subscription service waits between sending packages and possibilities for holding particular boxes. Some customers might sign up for subscriptions in groups that then split the costs between multiple invoices.
3. Customization for products and special offers
Being able to make changes to pricing for individual products and present special offers can make all the difference in attracting customers. That’s why a subscription box company’s order management system (OMS) should have an intuitive means for entering an offer description, setting a price and accounting for shipping expenses. Features for entering a fulfillment key code or providing special deals tied to particular payment methods allow businesses to reach out to new subscribers.
4. Powerful analytics
Building up a base of customers and keeping them signed up month after month calls for a strategic approach. A fully featured OMS is a vital asset for companies that specialize in shipping products on a regular basis, especially when it’s tied to an advanced customer database and resources for warehousing and fulfillment. Their OMS should also offer powerful analytics.
Subscription-based companies benefit from comprehensive data on how their ecommerce efforts are performing and thorough insights into user behavior. With reports available on weekly, monthly or on-demand basis, decision-makers can keep a close eye on every development or trend that impacts the bottom line.
Submitted by SFG
SFG specializes in technology and operational solutions for subscription box ecommerce services. To learn more about SFG and our FlexOMS technology and operational services, visit SFGnetwork.com.