How Can Merchants Boost Their Sales by Setting Up Gift Subscriptions on SubscriptionFlow?

One-time gifts are being left behind people as people start to march toward new trends of gifting their close ones. One of the emerging trends found in the SaaS subscriptions with special reference to gifting people is gift subscriptions. Gift subscriptions take a new leap onto the merchants and customers as they are more benefitting and inclusive as compared to other forms of gifting.

According to recent reports, subscription businesses are likely to increase to $500 billion in 2025. With that being said, subscription gifts merchants get numerous opportunities to scale their business in a number of ways.

Gift subscriptions are one of the marketing tactics that are used to reach out to other customers. With evolving trends, it has become highly trending for generating leads and turning those leads into conversions.

The Gift of Subscriptions

The gift of subscriptions entails a number of benefits reaping the way towards creating win-win situations for both customers and merchants. Even though the practice is years old but in the digital world, this has started to gain momentum. Customers are no more worried about making decisions at the eleventh hour as they can simply subscribe to the gifts and get them delivered right to the door without any hassle. From the perspective of merchants, adding subscription boxes to their deals, products, or services.

Let’s look at the few points by which you can boost your sales with gift subscriptions.

Increase Customer Lifetime Value

By adding subscription boxes or similar products to your business you give a boost to the recurring billing revenue which eventually leads to increasing the customer sustenance time period. Having a higher customer lifetime value means having recurring purchases by the customers and also creating a long-term relationship with your customers.

When customers make a purchase on a subscription-based product or service that envelops subscription boxes, it not only increases sales for the gift subscriptions but also gives a predictable stream of recurring revenue ensuring you have a repetitive customer. Moreover, for planning the gift subscription for a customer, SubscriptionFlow allows you to create multiple subscriptions against one product or service.

Branding Your Business

Branding is one of the key elements for boosting the sale of your business. Subscription boxes and subscription gifts are a great source of branding your awareness as it is the Direct to Consumer (D2C) era. Gen Z and millennials prefer to have gift boxes that are fully customized and have a wide variety. Subscription boxes fulfill the demands and needs of customers as it tailors to the best interest of businesses.

By bringing a gift subscription to your subscription business, you will be able to:

Create branding for your business
Boosting sales
Increased Revenue

Reward-based Referral Programs

The reward-based referral-based program talks about marketing your product through your already existing customers and gifting a reward upon the acquisition of a new sale and customer. The reward-based referral program has proven to be the most effective way for reducing customer acquisition costs. For startups and small-size companies, introducing reward-based referrals has always helped in landing sales creating a win-win situation both for customers and merchants. Marketing through adopting the policy of word-of-mouth communication can boost sales, fetch new customers, and increase recurring revenue.

Incentivizing Subscribers with Coupons and Discounts

For a healthy gift workflow, it is important to take certain measures that can boost sales with the passage of time. To encourage your customers for gifting or urging them to buy your gifting, incentivizing them with discounts and coupons is a great source. It creates a winning situation at both ends as sales are made, customers are acquired, and fulfilling services as per requirements are given to your customers turning them into loyal customers.

Also Read: Attract More Readers with Gift Subscriptions

Setting Up Gift Subscriptions on SubscriptionFlow

Now, that you have read about achieving sales with subscription boxes or gifting, here is how you can set up gift subscriptions on SubscriptionFlow. Follow the procedure to create a subscription without any problem.

SubscriptionFlow’s Dashboard

SubscriptionFlow provides a highly customizable dashboard from which you can access every option and manage your subscriptions. It fully gives you the freedom to manage your subscriptions without getting delayed and facing any obstacles.

Firstly, it is important to have contact against which the gift subscriptions are to be created in case you are trying to set up subscriptions for someone else.

1. Log into your SubscriptionFlow account to access the dashboard.

2. Click on + at the top corner of the ribbon and select ‘orders’ from the drop-down menu.

3. A new window will appear at which you will be able to create new order against the Customer with the set due date.

4. SubscriptionFlow gives you the option to either ‘create a new subscription’ or ‘modify the existing subscription’.

5. After selecting any of the above options, you will see a new page. Click of ‘Enable Gift’.

6. Scroll down to ‘terms and conditions’. Select the start date for your gift subscription and select the period type according to your requirements for the gift. You can also select if you want to auto-renew the subscription or not.

7. To make your contract effective, select the trigger date at which the invoice will be generated for the subscription.

8. The last step is to select the product and plan. You can also add the coupon if available and applicable.

9. Click ‘Save’ and your gift subscription will be started.

Bottom-Line

Gift subscriptions have proven to be helpful and fruitful in the world of subscription businesses. To the sales and create awareness of your service, setting up a subscription box for gifting is the right path to choose. With SubscriptionFlow you can achieve the best of the best solution with intuitive tools and third-party applications integrations that make the process seamless and smooth.

Enable your gift subscriptions now by scheduling a demo with SubscriptionFlow now.