An entrepreneur is always looking for a way to promote his business and increase conversion rates. With online shopping, this has become a major possibility. eCommerce stores have changed the outlook of selling and buying. With amazing websites, themes, and products to capture the audiences’ attention, the smart thing to do is go online. With WooCommerce, the job becomes even easier due to its unlimited functionality and plugins available. One such popular plugin category is the WooCommerce subscription plugins.
WooCommerce subscriptions plugins stand out due to their help in increasing sales and recurring payments. With WooCommerce subscriptions, you can retain loyal customers and have a fixed revenue.
What Are WooCommerce Subscriptions?
Before we move onto what WooCommerce subscriptions mean, let’s discuss what is meant by subscription and how it enables residual revenue? Now, subscriptions refer to a monthly or annually based service that is paid by your customers and is renewed each month or year.
Residual revenue refers to a company’s net operating income, which is the leftover profit after all capital costs are paid for.
With free and paid WooCommerce subscription plugins, you can introduce a new method of payment and increase residual revenue. Therefore, with subscription offers on your websites and products, loyal customers are increased and a steady income is guaranteed.
Now, you must be thinking why do I need a subscription plugin for it? When introducing subscription payment, you need to make sure that all your offers have the same value as the price. You also have to keep up with email advertising, check shipping procedure, monitor the renewal status, expiration dates, and much more. All of this is not possible along with running a business. Thus, by using WooCommerce subscription extensions, you can sit back, let it do the work for you, and enjoy increasing residual revenue.
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5 Best WooCommerce Subscriptions Plugins in 2020
With the help of listed WooCommerce subscriptions plugins, you can retain loyal customers, increase sales, and enjoy a profitable business. Let’s get started!
- WooCommerce Subscription – Customizable WooCommerce Subscription
- Yith WooCommerce Subscription – Free WooCommerce Subscription plugin
- Subscriptio – User-friendly WooCommerce Subscription extension
- Sumo Subscriptions – Fully Comprehensive WooCommerce Subscription
- WebToffee WooCommerce Subscriptions – Supports multiple payment gateways
1. WooCommerce Subscription
With WooCommerce Subscription, you have complete control over managing the subscriptions and billing methods. It allows you to create multiple subscription plans so that your customers can choose according to their needs. Your customers also have the flexibility to pay over various payment methods associated with WooCommerce.
Moreover, It helps you capture more residual revenue with premade email templates and multiple options to make subscriptions as beneficial for the customer as the user.
- Setup a free trial and sign-up fees
- Multiple subscriptions options
- Customers can manage their subscriptions via the dashboard
- Customers can also renew or cancel their subscriptions
- For both, virtual or physical products
- Built-in subscription emails
- Supports automatic recurring payments with 25+ payment gateways
- Keeping track of renewals and the number of subscribers
- Easy to install
2. Yith WooCommerce Subscription
YITH is among the free WooCommerce subscriptions which are available for download on the WordPress directory. With YITH, you can set up weekly or monthly subscription boxes and sell anything, from services, videos to products. In short, with exclusive products on your subscription boxes, customers are sure to be intrigued.
By using the WooCommerce subscription extension, you can also set up a free subscription trial for your customers, which will increase demand as they become familiar with the product or service.
- Trial mode to retain customers
- Payment methods include PayPal, Stripe, YITH PayPal Express, YITH WooCommerce Stripe premium, and much more
- Users can switch, cancel, or renew the subscription
- Email notification regarding payment, expiration, or new subscriptions available
- You can set a sign-up fee, additional discounts, and coupons on subscriptions
- Automatic suspension of subscriptions
- WPML support in the premium version
Subscriptio is a premium WooCommerce subscription extension that enables the user to sell all sorts of products such as magazines, memberships, services, and physical products as well. It is also a user-friendly subscription extension that allows the customer to renew or cancel their subscription easily. Subscriptio also supports semi-automatic and fully-automatic billing with Stripe and PayPal Express Checkout. It is considered one of the best WooCommerce subscriptions plugins.
- Sell tangible and intangible products
- Setup a subscription payment method
- Supports Stripe and PayPal for payment
- You can set up the trial length of the subscription
- Customers can renew, cancel, and pause their subscription
- You can purchase non-subscription products along with subscriptions as well
- Configure the length, reminder, and suspension period
- Effective admin subscription management area
- Regular license available for $69
4. Sumo Subscriptions
Sumo Subscriptions is a fully comprehensive WooCommerce subscription alternative. It is a completely customizable subscription panel where the user can customize the subscription plan based on renewal, pause, cancellation, trial period, duration, and automatic billing. It also supports Stripe and PayPal for payments. Sumo Subscriptions is compatible with WooCommerce and WordPress and thus enjoys all the latest updates.
- Master log to record all transactions
- Simple, variable, and grouped subscriptions
- Payment reminders sent to subscribers
- Discount coupons available for subscriptions
- Customers can downgrade or upgrade their subscription package
- Customers can pause, renew, or cancel their subscription
- Free trial and paid trial supported
- Stripe and PayPal supported
- Automatic subscription renewal supported by SUMO rewards
- Manual billing by any WooCommerce or WordPress supported payment gateway
- Regular license available at $49
5. WebToffee WooCommerce Subscriptions
WebToffee is one of the best WooCommerce subscriptions plugins. It allows the user to create and customize simple and variable products subscription. It also allows to set a trial period, length of subscription, setup fee, renewal date, and billing. Although, it supports multiple payment gateways that the customer can change during a subscription, among the major are Stripe and PayPal.
- Create simple and variable subscriptions
- Set up the length, expiration date, renewal, and variations
- Supports Stripe and PayPal
- Synchronize all your subscriptions to a single day of the month
- Synchronize subscription renewal
- Email notifications for cancelation, expiration, and renewal
- Supports multilingual websites
- WebToffee subscription for $89 to $199 based on the pricing plan you choose
Best Ways To Create A Successful Subscription Model
Once you have picked the best WooCommerce Subscription plugin, it is time to customize it according to your business needs. Creating a business subscription model, you need to have a goal in mind. Do you want to get more residual revenue, promote business, or increase sales? Once your goal is set, you can build your strategy upon it.
1. Adjust pricing
One of the most essential goals you need to set up is pricing. A subscription service, if priced right, could help you increase revenue, promote activity on-site, and also retain loyal customers. You can also categorize your subscriptions into variations, depending on the customers’ needs and the usage of your product. Customers are also interested in free-trial, early-bird discounts, and coupons. Therefore, such offers could lead to an increase in subscribers and buyers.
2. Payment methods
After pricing, you also need to determine how you are going to collect the recurring payments. WooCommerce membership plugins support all major payment gateways like Stripe and PayPal. The subscription extension should also support manual and automatic billing. Automatic billing is more convenient for your business but is not supported by all payment gateways.
The region also affects the payment gateways and thus you need to find one that is available in most areas you work with. Find a billing system that is easy for the owner and the customers.
3. Customer support
Your subscribers are the key to your success. Retaining loyal customers ensures increased revenue and income. Conversion rate, thus important, contributes only about 15% of your total generated income. Your loyal and regular customers produce the mass income and therefore, every measure should be taken to develop a good relationship with them.
Offer services like live chat, email, or phone so that your customers can be answered immediately on their queries regarding cancellation, suspension, renewal, and other subscription related features.
To make your subscription offer accessible to anyone, they need to be responsive on major devices like mobile, iPad, laptop, etc. Most of the online shopping is done by mobile, thus, to have a streamlined income and retain customers, you need to make your site accessible, responsive, and easy to navigate on all devices.
5. Modify and scale-up
Change is everything. A good subscription business model is sure to increase your revenue and sales. As your business grows, there are many things you need to take care of, including management, analytics, customer support, value, and much more. This is a lot to handle, but with the help of paid or free WooCommerce subscription extensions, management plugins, and popular hosting plans, you can sit back, relax, and see your business grow.
These are some of the things on which you can customize your business subscription model. Subscriptions plugins are also a great way to introduce versatility in your products, increase sales, target a new market, and retain loyal customers. It is also beneficial for the business and increases recurring payments.
Here are the other WooCommerce Plugins to enhance your sales.
Advantages of WooCommerce Subscription Model
The subscription model is employed by many large businesses and it benefits them greatly. Having a steady stream of income helps your business grow. It also maintains the core value that your customers expect from you.
WooCommerce subscriptions, either free or paid, all have amazing features that can help you easily manage your subscription plugin without you doing any work.
1. Retain loyal customers
Subscription extensions are a great way to increase loyal customers. Subscribers mean steady income, which you can greatly benefit from. Giving your customers the best shopping experience will also elevate their opinion, loyalty, and trust. You also need to have good customer support and keep the value of the subscriptions consistent.
You can also offer your loyal customers special discounts, coupons, subscribers-only benefits, and different variations to keep them interested and coming back for more.
2. Recurring payments
By installing the best WooCommerce subscription plugin, you get the reliability of residual revenue with monthly or yearly payments. The subscription model is also a great way to secure guaranteed payment and work on other aspects of your business.
With recurring payments, you don’t have to worry about making money regularly. Moreover, with the added stability of automatic billing, you can accept recurring payments with major payment gateways like Stripe and PayPal.
3. Flexible subscription plans
With WooCommerce subscription extensions, you can also introduce multiple tiers of subscriptions. This is beneficial for your business as your customers have the option of selecting the subscription type, length, renewal period, payment method, shipping method, etc. This enables your customers to find a subscription plan according to their needs and therefore, results in making your customers happier.
By using WooCommerce recurring order plugins, you are also indirectly promoting your brand and products. The subscription model is also a great way to introduce new products to your customers by cross-selling with their needed products.
Therefore, happy and loyal customers are sure to recommend your subscription plans to their friends if you keep strategically presenting them with good deals.
Subscription models do not have to include physical products only. You can also offer magazines, e-packages, services, video tutorials, and much more. This helps in widening your market and range. With subscription plans, you can also cater to a wide variety of customers and needs.
You can also offer your customers to make their subscription plans, thus earning their comfort and trust.
WooCommerce subscription plugin (free or paid) is a great way to increase your business and have a regular income. The best WooCommerce Subscription plugins offer recurring payments, increased marketing, loyal customers, and flexible options.
WooCommerce subscription extension also adds variations in your products depending on the customers’ needs. With good customer support, you can increase the conversion rate. It also helps in building more revenue. The increased residual revenue helps you to grow your brand and introduce new products.
The best WooCommerce subscription plugins help you in managing these extensive subscription plans and adding flexibility to it. Consequently, from products, management, analysis to billing, all is taken care of by them. Also, the easy to use admin dashboard keeps all records of subscriptions, suspension, renewal dates, and expiration. Thus, all you have to do is ship the orders.