Much like the popular warehouse clubs exemplified by the likes of Costco, subscribers in this model unlock a gateway to a plethora of company products by paying a membership fee.
What sets this subscription model apart is its promise of long-term savings, transforming the subscription fee into a worthwhile investment for consumers. The allure lies in the exclusivity, granting members an insider’s privilege to enjoy savings that extend over time.
Many ecommerce brands, spanning from beauty to food, have embraced the access business model, allowing them to present an array of products under the umbrella of a single membership.
However, success in this model hinges on a delicate balance – a continuous dance of monitoring and tweaking the terms to ensure that each subscription genuinely adds value for discerning customers.
Join us as we delve into the intriguing framework of the Access Membership subscription model, where we’ll be discussing the following:
- How to make the incentive structure
- How to promote the enrolment plan
- How to retain the members aka Retention Structure
- How to winback your old subscribers aka The Winback strategy
Incentive Structure
Creating an irresistible incentive structure for an Access Membership subscription is a key strategy for any ecommerce brand. This structure not only attracts customers but also keeps them coming back for more. Let’s break down the key elements of an effective incentive structure.
Membership Discounts
One of the most attractive features of an Access Membership is the exclusive membership discount.
- Free Shipping– Who doesn’t love free shipping? With an Access Membership, members enjoy the luxury of having their orders shipped to their doorstep without spending an extra dime. It’s like having a personal delivery fairy that spreads joy with every package. For example how Amazon started it’s paid membership my offering free shipping.
- Loyalty Points– Loyalty points are like little treasures that members accumulate with each purchase. These points can be later redeemed for discounts, exclusive products, or even freebies. It’s a way of saying ‘thank you’ to subscribers for their continued support, turning each purchase into a step towards more benefits.
- Priority Support: Access Members deserve a red-carpet treatment when it comes to customer support. Offering priority support ensures that their queries or concerns are addressed promptly, making them feel valued. Quick and efficient support can go a long way in enhancing the overall satisfaction of Access Membership subscribers.
Membership Plans
Now, let’s talk about the different plans to fit everyone’s preferences!
1. Monthly Plan Cost– The monthly plan serves as an entry point, enticing customers to experience the benefits of the Access Membership without a significant upfront commitment. While the revenue generated may be relatively lower per subscriber, the month-to-month nature allows for a steady and predictable stream of income. This also facilitates customer acquisition, as users may be more inclined to try out the subscription with a minimal initial investment. The key here is to provide enough value to encourage members to stick around and potentially upgrade to longer-term plans.
2. 3 Months Plan Cost– Moving up the ladder, the 3-month plan offers a balance between customer commitment and increased revenue for the ecommerce owner. Subscribers opting for this plan indicate a slightly higher level of commitment, and the extended period allows the brand to build stronger relationships with customers. Moreover, the upfront payment for a multi-month plan injects a boost of revenue, providing the business with a more stable financial foundation. This plan aims to strike a harmony between subscriber commitment and immediate financial gains for the ecommerce brand.
3. 6 Months Plan Cost-The 6-month plan is the pinnacle, both for subscribers seeking maximum savings and for the ecommerce brand owner. From a business perspective, this plan offers a substantial upfront payment, injecting a healthy dose of immediate revenue. Moreover, the more extended commitment enhances customer retention, providing the brand with a more predictable revenue stream over an extended period. Ecommerce owners can leverage this plan to foster loyalty, as subscribers are likely to stay engaged and make repeat purchases throughout the subscription period.
The Access Membership subscription’s incentive structure is like a tapestry, woven with discounts, perks, and flexible plans, creating a seamless and rewarding experience for members. It’s about giving customers more reasons to not just subscribe but to stay delighted throughout their membership journey.
Enrolment Plan
Encouraging customers to enroll in a paid membership subscription involves strategic promotion and enticing offers. Let’s explore simple yet effective ways to promote and drive customer enrollment.
1. On Website
- Cart Page– Placing a subtle yet attention-grabbing banner on the cart page can work wonders. For instance, a message like “Unlock exclusive savings! Enroll in our Membership for extra discounts” can pique the interest of shoppers just before they make a purchase. Providing a direct link to the membership details ensures a seamless transition for those interested in learning more.
- Checkout Page- The checkout page is a prime spot to showcase the perks of membership. A visually appealing section highlighting benefits like free shipping or exclusive discounts with a call-to-action to enroll immediately can catch the customer’s eye. Offering a limited-time discount on the first month of membership can serve as an extra incentive for spontaneous sign-ups.
2. Email Automation
- Replenishment Automation– For products that customers typically repurchase, like skincare items or vitamins, an automated email reminding them to enroll in the Membership for added discounts on replenishment orders can be compelling. Highlighting the long-term savings and convenience of automated deliveries can motivate customers to subscribe.
- Cross-sell & Upsell– After a successful purchase, send a follow-up email suggesting complementary products and subtly introduce the Membership subscription for even greater savings on future orders. For example, if a customer buys a camera, the email could recommend accessories and mention the benefits of becoming a Member for ongoing discounts.
- VIP Audience Follow-Up- Identify and segment your VIP customers based on their purchase history. Craft a personalized email exclusively for them, expressing gratitude for their loyalty and offering an exclusive VIP Membership with enhanced benefits. This targeted approach makes customers feel valued and provides them with an extra incentive to join.
3. Offers Around Membership
- 3-6 Months Membership Discounts Campaigns– Launching periodic campaigns offering special discounts for customers committing to a 3-6 months Membership can create a sense of urgency and excitement. Display these campaigns prominently on your website and share them across your social media channels. For instance, “Limited-time offer! Save 20% on a 6-month Membership for exclusive benefits.”
The Retention Structure
Retaining the subscribed audience for a paid Membership subscription for an ecommerce brand involves thoughtful strategies and features that enhance the subscriber experience. Let’s explore simple yet effective ways to retain your valued subscribers.
1. Communication Automation
Keeping subscribers informed and engaged is crucial. Implement communication automation to send alerts before upcoming subscription renewals. For instance, sending a friendly reminder a few days before a subscription renews helps subscribers plan and ensures they don’t miss out on the benefits. Additionally, running monthly subscription campaigns via email or SMS keeps them excited about what’s coming next, reinforcing the value of their membership.
2. Retention Features
- Skip/Pause Order– Life can get busy, and sometimes subscribers may need to skip a month. Including a simple “Skip Order” feature in the subscription portal allows users to pause their subscription temporarily without canceling it. This flexibility ensures that the subscription aligns with the customer’s lifestyle, reducing the likelihood of cancellations due to temporary changes in their needs or preferences.
- Dunning Solution– Implementing a dunning solution is a proactive way to handle failed payment attempts. It automatically notifies subscribers about payment issues and provides a user-friendly interface for them to update their payment details. By addressing payment issues promptly, you prevent unintentional cancellations due to payment failures, enhancing customer satisfaction.
3. Retention Promotion
- Giving Retention Surprise Rewards– Surprise your subscribers with unexpected rewards to express appreciation for their loyalty. For example, offer a bonus discount or a free product in their next shipment as a thank-you gesture. This not only delights customers but also strengthens their connection with the brand, making them more likely to continue their subscription.
- Giving Loyalty Points– Introduce a loyalty points system tied to subscription longevity. Each month a subscriber remains loyal, they accumulate points that can be redeemed for discounts, exclusive products, or other perks. This not only incentivizes customers to stick around but also creates a sense of achievement and value in being a long-term member.
Retaining the subscribed audience for a paid Membership subscription in an ecommerce brand involves thoughtful strategies and features that enhance the subscriber experience. Let’s explore simple yet effective ways to retain your valued subscribers.
1. The Retention Structure:
- Communication Automation: Keeping subscribers informed and engaged is crucial. Implement communication automation to send alerts before upcoming subscription renewals. For instance, sending a friendly reminder a few days before a subscription renews helps subscribers plan and ensures they don’t miss out on the benefits. Additionally, running monthly subscription campaigns via email or SMS keeps them excited about what’s coming next, reinforcing the value of their membership.
2. Include Retention Features:
- Skip/Pause Order: Life can get busy, and sometimes subscribers may need to skip a month. Including a simple “Skip Order” feature in the subscription portal allows users to pause their subscription temporarily without canceling it. This flexibility ensures that the subscription aligns with the customer’s lifestyle, reducing the likelihood of cancellations due to temporary changes in their needs or preferences.
- Dunning Solution: Implementing a dunning solution is a proactive way to handle failed payment attempts. It automatically notifies subscribers about payment issues and provides a user-friendly interface for them to update their payment details. By addressing payment issues promptly, you prevent unintentional cancellations due to payment failures, enhancing customer satisfaction.
3. Retention Promotion:
- Giving Retention Surprise Rewards: Surprise your subscribers with unexpected rewards to express appreciation for their loyalty. For example, offer a bonus discount or a free product in their next shipment as a thank-you gesture. This not only delights customers but also strengthens their connection with the brand, making them more likely to continue their subscription.
- Giving Loyalty Points: Introduce a loyalty points system tied to subscription longevity. Each month a subscriber remains loyal, they accumulate points that can be redeemed for discounts, exclusive products, or other perks. This not only incentivizes customers to stick around but also creates a sense of achievement and value in being a long-term member.
Incorporating these retention strategies into your ecommerce brand’s Membership subscription ensures that your subscribers not only stay engaged but also feel valued. By leveraging communication automation, user-friendly features, and thoughtful promotions, you can foster a strong and enduring relationship with your subscribed audience.
Winback Plan
Winning back old subscribers to your paid Membership subscription program is a strategic endeavor that involves reconnecting with past customers and enticing them to rejoin the membership. Here are simple yet effective ways to implement a winback plan:
1. Feedback- Engage with your past subscribers by sending a friendly feedback email. Inquire about their experiences and reasons for leaving. A simple, “We value your opinion! Tell us why you unsubscribed” can open a channel for communication. Collecting feedback not only shows that their thoughts matter but also provides insights into areas that might need improvement. It’s a step towards making your subscription more aligned with their preferences.
2. Winback Discount- Everyone loves a good deal! In your winback email, sweeten the invitation to return with a tempting winback discount. For instance, “We miss you! Come back and enjoy a special 15% discount on your next month’s subscription.” This not only acknowledges their past association but also provides an attractive incentive to rekindle the subscription. Offering a discount is a tangible way to express appreciation and entice old subscribers to give your paid Membership another shot.
Rekindling the connection through personalized communication and offering a tempting incentive can reignite interest and encourage old subscribers to give your paid Membership subscription another try.
Conclusion
The Access Membership subscription model emerges as a powerhouse, offering customers exclusive benefits and businesses a sustainable revenue stream. From crafting enticing incentive structures to strategic promotion and retention efforts.
By understanding the purchasing patterns of your consumers, it becomes clear that success lies in a delicate balance of value, flexibility, and engagement. The journey involves not only attracting but also retaining and rekindling relationships, ultimately fostering a community where membership is more than a transaction—it’s a rewarding, enduring partnership.