Subscription software is the last inevitable step in offering an online service. Once your business is up and running, facilitating a recurring billing program is paramount to getting paid. Luckily, for many start-ups, there are third-party companies that can provide subscription services. If you are planning on using such a service for your company, then it is important to follow a few steps.
Cloud-Based or In-House
Subscription services can be run off the cloud or through an on-site server. Both choices have their own set of pros and cons. In-House service amounts to a one-time fee, boasts better security, but it is not accessible everywhere. Cloud-based is a little cheaper up-front and has great accessibility. Cloud-based is also less secure and usually carries a monthly fee.
In order to properly use a subscription service, you have to first understand what you will be using it for. If you are an online retailer, service provider, or entertainment source you have to create payment plans. A payment plan establishes payment type, payment length, recurring schedule, and available discounts. Retail companies have to set up an integrated shopping cart to hold digital wares. The service you decide to use has to be able to facilitate the payment plan you need. As some service are built for a specific niche this choice requires some homework.
Good Reviews, Recommendations, and Ratings
A subscription service is just like an independent contractor. If you are going to trust part of your business to a third-party, you better be certain it will do the job right. This is why you should always research a company before using it. Look at the ratings, the recommendations, and reviews. This can be done by looking at the company webpage or initiating a web search for fastspring.com/recurring-billing/. Good service will have a reputation that proves their worth.
Subscription services have a wide array of perks. They can process billing, track payments, create recurring payments, report analytics, track sales data, create digital coupons, and offer consumer support. Many are also tailormade for a certain type of business transaction. Subscription software that offers shopping cart integration is built for retail. Subscription software that handles recurring payments is built for service. Depending on the nature of your particular business certain aspect of a subscription service may not fit. Make sure that the company you choose is built to accommodate your specific niche.
In today’s market going mobile is a no-brainer. Many consumers live off their smartphones, so integrating your business into a mobile app is a good idea. Subscription based software can also help build mobile apps. Many subscription companies offer this as part of their service. The reach a mobile app provides is well worth the monthly cost and using a third-party allows your app to be professionally constructed. If you have big plans for your future, finding a service with app capability is a good move to make.