The ecommerce landscape is international in scope and changes quickly, making it one of the most dynamic parts of the internet. Sales techniques and the technology itself are always evolving.
One of the latest developments is the shift many businesses are taking towards offering a subscription-based sales model — this allows customers to have the products they use regularly conveniently arrive at their door, often at a reduced price. This model gives companies one strain of revenue that’s reliable and consistent, and also helps to foster excitement and brand loyalty.
But the key is to have the right ecommerce platform to help manage all aspects of a subscription-based business model. Let’s take a closer look at how it works.
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Better, Smarter Analytics Means Higher Sales
The latest ecommerce platforms give you more than 20 visualization dashboards so you get a crystal clear picture of every economic aspect of your business, as well as your customer lifecycle, updated in real time. This includes everything from MRR, P-&-L, Cycle, Analysis, Rebill Rates, and Active Subscription forecasting.
It’s also easy to create sophisticated segmentation and filtering so you can more easily sift through this data — filter through dashboards based on traffic source, channels, verticals, campaigns, or Custom Smart Tags.
You can click here to see all the other ways that having greater intelligence and awareness of your business can result in growing sales.
World Class Security
In just the way a brick and mortar store wouldn’t fail to invest in alarms, locks, and CCTV cameras, online stores need to keep secure. Fraud is an ongoing problem in the online landscape in general, and any business needs to create confidence in prospective customers that all transactions are safe, because any hesitation to make a purchase can only result in fewer sales.
The best ecommerce platforms have their own security experts, and the software itself leverages all the data within it so as to screen all your transactions in advance. It uses this knowledge to automatically decline any transaction deemed suspicious, resulting in fewer chargebacks and an uptick in acceptance rates.
It’s even better if they complement their expertise by partnering with industry-leaders in detecting and managing fraud. It’s also essential that the platform allows for flexibility, so different aspects of your operation — campaign, products, and payment gateways — can have customize risk levels as needed.
Revenue Maximization
Smart tools in the latest platforms help you take proactive measures to keep payment information accurate and up to date, so the consumer can sit back and have their subscription services continue uninterrupted without having to manually update any information themselves.
This way the sales keep rolling in, and your company won’t have to waste any time or effort to keep it continuing.
When your business has all the right modern tools, navigating the ever-changing world of ecommerce is easy. Just make sure the platform you get provides the intelligence and security you need, and the features that keep your sales ever higher.
