Recharge Payments
About Recharge Payments
Recharge Payments is one of the best Shopify apps for e-commerce businesses. It is a leading subscription payments platform that is designed for merchants to set up and manage dynamic recurring billing across the web and mobile.
Recharge Payments is known for not just simplifying the setup process of a subscription model, but also the collaterals required to make the model a success - a subscription landing page, automations for reminders, integrations with other Shopify apps, and more.
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Key Features of Recharge Payments
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- Custom checkout domain - Optimize the checkout process for products available on subscriptions with custom fields like subscription duration, discounts, and more.
- Custom customer portal - Enable your customers to manage every aspect of their subscription orders with a branded portal.
- Direct checkout links - Ease purchasing subscriptions with a URL that takes customers directly to the cart with pre-populated product information and subscription interval.
- Discount creation and management - Create and manage discounts to promote subscriptions and get insights on the best-performing discount codes.
- Magic links for a one-click interface and passwordless login.
- Media attribution - Identify the channels driving the most number of subscription purchases to optimize for higher ROI and ROAS.
- Payment processor - Integrate with popular payment gateways, ensuring PCI compliance and complete encryption with regular audits.
- Product SKU and variant - Set subscriptions on specific products or collections, identify your bestsellers and low-selling/ canceled items, and how it all impacts your revenue.
- Subscription widget - Sell your subscriptions by promoting them on product pages with an easily customizable widget.
- Pause subscriptions option over canceling them
- Translation - Customize text elements to localize the shopping experience offered to your subscription customers.
- Bundles - Bundle multiple products together for one-time or subscription purchases; best for curated box or fixed items subscription model.
- One-time products - Allow customers to include additional products to their existing subscription orders; can include exclusive items tailored to their interests.
- Revenue KPI dashboard - Compare one-time purchases with subscription sales on your store via a comprehensive revenue dashboard.
- Provide incentives - Offer personalized benefits and offers to customers requesting cancellation to keep the subscription going.
- Upsell and cross-sell - Encourage existing subscription customers to try new products with targeted product recommendations.
- Transactional emails - new subscription, before an upcoming charge, and more.
- Customer overview dashboard
- Customer activity and cancellation metrics
How to use Recharge Payments to set up the eCommerce subscription model?
Understand the subscription model and its types
First things first, ensure that you have a complete understanding of the ecommerce subscription model and its various types - access, replenishment, curation, build-a-box. Every ecommerce business must look into its unique value proposition, its products and what would benefit it the most.
Identify your target audience and needs
Look into your customer analytics and segment your customers on the basis of their level and frequency of interaction with your online store. Take into account both micro and macro actions like wishlisting of items or the purchases they have made over a defined period of time.
Identify products to offer on subscriptions
It is important to note that not all products sell as subscriptions. Take a note of your product analytics to identify purchase patterns and preferences. The idea is to identify items that customers need on a recurring basis and how you can ease these purchases for them.
Set the benefits and offers
The next step is to identify what will appeal to your buyers when you sell products via a subscription model. This could be discounts or deals on the products when bought for a specific duration or benefits like discounted shipping. Remember to take into account your marketing and advertising costs as well as logistics before deciding on subscription offers and benefits.
Create a subscription landing page
The one thing our Shopify experts recommend doing is making it easy for online shoppers to find what products subscriptions are available on. While you will have the subscription widget available on individual product pages or collections, we do recommend setting up a separate landing page that lists all the products it is available on, the discounts or benefits available and how easy it is to purchase subscriptions.
Set up a marketing strategy
Similar to the deals and discounts you create for seasonal sales and rope in all channels to promote them, create a marketing strategy to sell your subscriptions too. This means creating a comprehensive marketing strategy that uses both organic and paid channels to entice online shoppers into exploring the subscriptions available.
Automated Customer Retention Campaigns
Recharge has introduced automated customer retention campaigns that target at-risk customers with personalized offers and incentives to reduce churn. These campaigns are driven by machine learning algorithms that predict customer behavior and suggest the best retention strategies.
Monitor and optimize
Don’t treat the subscription model as a set it and forget element on your store. Ensure you keep a close watch on the performance via the Recharge Payments dashboard, take note of insights and actionables, and optimize to meet customer needs, interests, preferences more proactively.
Want to know more about using Recharge Payments on your Shopify store?