It’s Cyber Monday – Offer Discounts and Gift Subscriptions to Grow Bottom Line

Not only buyers but retailers and sellers also wait for big shopping events like Black Friday and Cyber Monday. Though retailers have to lower the prices where they sometimes get nominal profit, the fact that they can sell in bulk is the motivation to lower the prices.

The subscription business model is nothing to do with the one-time sale or even sales in one day. The subscription cycle completes at the end of the week, month, year, or any other specific time. Still, shopping events like Cyber Monday are big opportunities for eCommerce and other subscription-based businesses.

You just need to think inside the box!

Offer the gift subscription option of boxed subscription to your subscribers that they can send to their contacts. However, for gift subscription management, you can opt for SubscriptionFlow.

Also Read: The Subscription Pie Is Getting Bigger: How to Leverage It This Black Friday

We are here to tell you how to plan and manage gift subscriptions this holiday season:

Offer Post-Holiday Perks

Many brands start preparing for Black Friday and Cyber Monday as soon as this year’s festive holiday season ends. You also need to do that but make post-holiday perks part of the plan. It will help you increase sales and the customer base both. How?

It is common that on busy shopping days many people fail to make the purchase because of, for example, busy servers, unawareness, or internet issues etc.  You need to grab the chance to facilitate these customers. Offer post-holiday perks as well. You can also launch post-holiday loyalty perks.

These perks will not only bring new customers on board but also increase brand loyalty for those who just made purchases on Black Friday. So, if planned properly, offering post-holiday perks will not be a burden on the budget of the business rather it will improve customer loyalty, brand worth, and the flow of recurring revenue.

Think beyond Discounts & Coupons

Yes, discounts and coupons can help you increase the flow of recurring revenue by bringing in more customers. And eCommerce businesses manage everything from the discount management systems. However, if you think beyond discounts and coupons, you can do something extraordinary.

Discounts help you bring in customers who may not stay longer with you, but if you offer perks around the existing subscription plans, you can onboard customers for an even longer duration. Also, a gift subscription can be a better option than a discount or coupon.

Also Read: Another Thanksgiving, Another Holiday, Are You Ready with Your Subscription Boxes?

Plan for Retention

Today, there are many people and thinkers who urge people to not shop thoughtlessly on the shopping events like Black Friday and Cyber Monday. Though it is right one should not purchase something just because it is on sale or there is shopping season, it has become a challenge for subscription retailers in the market.

So, many customers will probably be attracted to the subscription box or the gift subscription that you have planned for this shopping season, but they can leave if they feel that they are not utilizing the subscription enough. With discounts, you also need to plan a retention strategy so that you not only onboard new customers but also retain them. Your customer should feel not feel like he is just part of the sales funnels but rather make the entire customer base your team and treat them likewise.

Offer Prepaid Gift Subscriptions

Offering gift subscriptions is like bringing in a new pool of customers. And the good news is this pool of customers is already there for you. When you offer your eCommerce products inside the box, you are giving your customers ideas to gift something unconventional to their dear ones this holiday season.

Also, keep your gift subscriptions prepaid because the receiver does not pay for gifts. What can be done is that the customer pays for the one-time subscriptions, and you allow the contact (gift receiver) of your customer to either convert the subscription to a regular subscription or some other option that might suit your business.

Plan Something Special for the Existing Customer Base

Though businesses try their best to increase subscribers on big shopping days like Cyber Monday, you must not neglect the existing customer base. It is better than you plan sales, discounts, and coupons for new customers separately. However, offer the existing loyal customers better options. It will help you increase customer loyalty, customer lifetime value, and retention rate.

This was about the Cyber Monday. In conclusion, you need to understand that Black Friday and Cyber Monday are huge opportunities that any eCommerce business must not miss. They are the shopping days when customers shop even without thinking (of course not all of them but many). And you just need a working strategy to onboard them as customers and turn them into permanent and loyal customers.

If you are looking for subscription management software that can help you analyze customer data for this Cyber Monday, then SubscriptionFlow is the one.

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

On this Cyber Monday, schedule a demo with SubscriptionFlow, we assure you, you will not regret it.