YouTube icon
Subscription services provide a straightforward method for creators to make money from their efforts and generate regular, passive income. The service is perfect for online courses, membership service collections, coaching, consulting firms, and many more. Its online-commerce platform makes it easy to build and personalize a subscription service in 4 simple steps.
How Does Subscription-Based Pricing Work?
So how does the subscription model function? Rather than making a single payment in exchange for the purchase of a service or product clients will be able to make regular payments, often to gain access to a greater quantity of content for an affordable price than the upfront purchase price. There are several kinds of subscription plans available:
- Unlimited Subscription: Perhaps the most common type of subscription Unlimited subscriptions allow customers to sign up for the recurring subscription that continues to renew until the customer decides to cancel.
- Limited Subscriptions: Commonly employed to develop payments plans, restricted subscriptions charge recurring payments for a specific amount of duration.
- Free Trials: You can give a trial at no cost to increase confidence in buying by letting interested customers try your subscription for free. What is the reason to offer a trial for free? Researchers from University of Washington University of Washington tested the effect of these promotional offers. They found that 7-day trial trials for free increase retention by 6.4 percent and boost a subscription's revenue return up to 7.91 %.
- Paid Trials: Maybe you want to give your customers a way to test your products and services at with a reduced price? The paid trial could be an answer you've been searching for! It is also a reverse option, letting you set a higher price upfront before gaining access to an affordable subscription rate. Higher upfront trial fees are frequently used by business to cover the cost of setting up as well as onboarding costs.
We support all of these models of subscription to help the online seller create their ideal subscription service. Check out our step-by-step tutorial on creating a recurring subscription service--with or without a trial. Or, watch below as the co-founder of the company, Scott Moran, builds a mock membership subscription for an online course business that specializes in guitar-related training.
Subscription Step 1: Create an New Product
Under the Products tab in your account, select the + New Product button. Follow the on-screen guidance to fill out the form with your product name and description.
Subscription Step 2: Recurring Pricing
In the Pricing Type drop-down menu, select "Recurring." After that define the conditions for your subscription.
- Subscription Price: Enter the default price for your membership or subscription service.
- The Recurring Period can be set to set the subscription to renew every week, month-to-month, quarterly or even each year. This period reflects how frequently customers are paid.
Subscription Step 3 Optional Trial Time
If you do not want to offer a subscription trial, simply leave the Trial Period toggle off. If you decide to include a trial, you will have two options:
- Free Trial: Switch the Trial Period switch on, then select Free Trial to give your customers access for free to your subscription. Then, you can choose how long your customers have access to the trial before making their first payment is processed.
- Paid Trial: Switch the Trial Period switch on and then select Paid Trial to include the cost of a trial period upfront. Enter the initial cost and indicate how long you'd like this trial period to run for.
Subscription step 4: Create the Product
Once you finalize your subscription details, click Create Product. The button will take you to your product's dashboard in which you will be able to build your sales website, modify your product details, select your preferred payment method to begin selling the subscription.
How Can I Manage My Customers' Subscriptions?
Automatically creates a portal through which customers can easily manage their subscription. However, still allows you to be in the driving seat of your business by allowing you to customize the features of your subscription that you offer to the customer.
- Self-Cancellation Feature: You can activate the feature for self-cancellation when you wish to let subscribers to cancel their subscription at any point. This feature can save your time and effort in the event that a client wants to end or modify their subscription.
- Subscription Saver: what happens if customers don't update their payment information? 's Subscription Saver can help! Included in Scale and Enterprise memberships, the feature automatically goes to work in notifying and recovering customers who have their subscriptions denied by their payment method. The Subscription Saver can help you avoid losing subscribers (and revenues) and also avoid from the stress of sending out frantic emails to customers.
- The Subscription Charge Reminder Users can decide whether or not you want to remind subscribers of future renewal dates for their memberships by using's subscription charge reminder.