recurring payments wix

Recurring Revenue Revolution: Empower Your Business with Wix Recurring Payments

In the recent past, all of us have come across time and space. We are in a new world where we target ‘sustainable business development,’ ‘persistent growth,’ and ‘ growth and retention’. This generation has no concept of chasing after new customers all the time.

They have stepped into the future where recurrent needs are the target so that scalable growth and financial stability can be ensured. Here, businesses have got ridden of one-and-done deals. Customers are not mere buyers, instead, they are made loyal partners.

“The point is to fulfil customer needs in a way that he cannot imagine doing business without your offerings! ”

Coming towards the role of Wix in this scenario, Wix recurring payments place the power back in the hands of business owners like never before. While Wix is integrated with a subscription management system, you can easily say goodbye to delayed payments, payment failures, or billing & invoicing errors.

Also Read: How To Go Headless with The Wix Store Using SubscriptionFlow’s APIs?

The Transformative Nature of Recurring Revenue Models

In the subscription business market, retailers crave customer convenience, personalization, and long-term relations, recurring revenue in setting the milestone. One of the biggest advantages of recurring payments that set the path for recurring revenue streams is predictability.

Monthly and annual revenue becomes highly predictable when a business opts for getting recurring payments. Businesses may now count on a consistent stream of income month after month rather than erratic sales surges or seasonal variations. With this newfound stability, it is now possible to plan finances more effectively, invest in growth projects, and have faith in the economy. This ability of the recurring revenue model is actually transforming the business world. Meaning, who doesn’t want highly predictable revenue growth?

Case Studies of Businesses Thriving with Recurring Revenue Models

There are various businesses for which not only the business owners but also the customers never thought of running on the recurring billing and revenue model. Here are some of the case studies showing how businesses transformed with recurring revenue:

1. eCommerce Businesses

eCommerce platforms initially worked on a one-time purchase model. However, the advent of the subscription billing business model transformed the eCommerce business market. Today, it is the top business model for eCommerce platforms. It sets the flow of recurring revenue streams as well as makes revenue more predictable. That’s the reason many people search for how to set up recurring payments on Wix. With an integrated Wix platform, eCommerce retailers can set up their virtual shops and manage billing and recurring revenue from the subscription management platform.

2. OTT Platforms

Before the rise of Over-the-Top (OTT) services, traditional television and media distribution followed a more centralized and linear model. However, Over The Top (OTT) media platforms came and conquered the entertainment market. They provide people who are fond of binge-watching a vast library of shows, movies, and whatnot. They offer their customers tiered pricing. And every tier is a win-win for both OTT retailers and customers. These pricing tiers sets the flow of recurring revenue for on-demand content providers.

Also Read: How Diverse Revenue Streams Are Fueling The OTT Industry

3. Customer Relation Management (CRM) Platforms

Long gone are the days when CRMs used to follow the traditional model of offering perpetual software licences. Customers would buy a one-time licence to the CRM software in this arrangement, entitling them to an unlimited amount of use. Today, they offer access to their cloud-based CRM platforms based on the subscription business model. And experts predict a Compound Annual Growth Rate (CAGR) of 10-15% by 2026 since the CRM industry has opted for the subscription business model.

From One-Time Sales to Ongoing Success with Wix Recurring Payments

“In the realm of business, recurring revenue is the tide that lifts all ships, creating a foundation of stability and propelling innovation.”

With Wix recurring payments, you can transform the way you earn recurring revenue. Though recurring revenue is a transformation on its own, you still have a margin to make it better with Wix. You can make it more stable and predictable.

Wix allows you to not only cater to subscribers but also create their communities. Make groups and communities of your loyal customers. Offer them access to specific content and services that they cannot resist. Also, curate discounts or subscription boxes for them, and get everything managed with Wix integrated with a subscription management platform. You can manage eCommerce shops with Wix, however, for billing, invoicing, pricing, and revenue management, use our subscription management platform.

SubscriptionFlow can easily integrate with Wix allowing users to manage eCommerce businesses seamlessly from a single platform with SSO. Schedule a demo now to see how Wix integrated with SubscriptionFlow can change the way you do eCommerce business.