Subscription growth hack (by PayKickstart)
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Here’s my field-tested theory on subscription management software:
If you only need a garden hoe, don’t rent a backhoe. But if you really do need a backhoe, by all means go get one – just don’t start drooling over the Komatsu PC4000 hydraulic excavator sitting at center stage on the heavy equipment seller’s lot.
In other words:
Get what you need, but don’t throw cash that could be going into creating more and better products or services into the money-sucking drain known as “overkill.”
Here’s how we’re going to sort that out:
First, I’ll define the term to make sure that my take on “subscription management software” matches your understanding of the beast.
Next, I’ll list the primary benefits of subscription management and the features (checklist) you’ll want to look for when you consider teaming up with a vendor.
Then, I’ll tell you which platform I use, personally, and why. You may not need to go any further than that, or you may want to print out the checklist and do some shopping.
Either way, you win.
My aim here is to help you avoid spending a whole lot more than you need to spend … but still get the results you need to get so you can keep growing your online business.
Subscription management software acts as a buffer between your payment gateway and your customers. It automates the process of billing subscribers. The best subscription management systems also provide customer service components to help with customer retention.
[Insert CTC: How to choose the best subscription management software: Don't buy an excavator if you only need a garden hoe.]
You could conceivably handle your subscription billing manually, but there are advantages to a good subscription management software system. They make the benefits of the platform worth way more than the cost.
If you offer a subscription plan for your products or services (and you should be), here are some of the ways the right automated billing and subscription management strategy could help you:
That’s seven good reasons, but there are more. The argument that an online seller needs subscription management software isn’t difficult to make. If you’re enrolling subscribers, you need to launch a subscription management system … sooner rather than later.
The toughest decision isn’t about whether you need the help. The headache comes from trying to choose the best vendor for your business. It’s even worse than trying to pick a flavor at Baskin-Robbins.
All of the tubs in the ice cream cooler run pretty much the same price and will give you the same result. When it comes to subscription management software, though, the prices vary wildly and the more they cost, the more complicated they end up being.
The water can get murky here, since some subscription management platforms also provide an in-house billing gateway, configurable dunning capabilities, and other add-on features.
My own favorite system (PayKickstart) even handles your affiliate management tasks. Now, that’s amazing.
Here are the typical features to look for in subscription management software:
I could extend this list even further, but there’s no reason to nitpick the point. The best subscription management software does a whole lot more than charge the agreed-upon rate to your subscribers’ credit card every month.
I’m not hawking any particular system to get affiliate commissions. That’s like buying glasses from your eye doctor or toothpaste from your dentist.
The system you need is the one that best fits your business.
For the record, though, here’s why I prefer the PayKickstart subscription management software over every other contender and why I wouldn’t take my business anywhere else:
Those last two are the icing on the cake. I love the features, I’m amazed by the low price, and I’ve been wanting to wade deeper into affiliate marketing for years.
But having access to online business owners who have already been where I want to go, and using the very same tool they use in their own work?
Once I found this platform, the search was over.
Here’s the moral of the story:
You must invest time and money to build your business. The trick is to make sure your hours and dollars are directed to the most appropriate and best-leveraged places. Invest … don’t waste.
Writer, Dreamer, Believer. Don Sturgill is author of The Daily DEEP and a friend to entrepreneurs everywhere. Get your copy of The DEEP and find out more about Don's work at donsturgill.com.Read More About Don Sturgill