Selling by subscription to generate recurring revenue.
If you are reading this, you are probably searching for recurring income ideas for 2021. Subscription sales are undoubtedly the best idea for you. Indeed, opting for an economic model based on regular payment will allow you to stabilize your income, unlike the one-time sale, whose profits fluctuate from month to month.
So if you offer a monthly subscription with a recurring payment of 15 euros and 1000 subscribers, you pocket 15,000 euros each month.
For this model to continue, you will need to retain your customers. As a result, your product or service must be attractive enough and of good quality. The first part is to search for the right idea that will allow you to generate recurring revenue. This article offers you to discover three types of business models, which will help you set up a regular payment system.
The sale of subscription service
There are two types of services that can be paid for on a recurring one.
The first is “material”: web hosting, software use, or online website creation tools such as Shopify, Wix, or Jimdo. These services are generally very lucrative and allow good customer loyalty. On the other hand, they also require a higher initial investment.
The second is the knowledge and skills that the subscriber needs. This is the case, for example, with coaching in the field or via communication tools such as Skype. However, access to a private online space can also be offered in exchange for a recurrent loan, in which new advice or information can be found each month. This can be done via a private forum or a subscription to a “premium” newsletter. The customer must then see a real added value to stay true to the service and allow you to initiate a recurring payment.
Having recurring revenues from info products
More and more specialists in various fields, ranging from blogging to parenting to wellness, are embarking on the sale of information products.
Creating online training to address a specific issue is an excellent way to move from one-time payment to recurring payment. It will then be possible to sell it through its blog or website. The media are varied: e-books, podcasts, videos.
The advantage is that these kinds of products require little financial investment. Besides, it is easy to sell courses by offering a recurring payment over several months.
Recurrent sales of physical products
The sale of physical products by subscription is another idea to generate recurring revenues. We have already covered this topic in previous articles, with the sale of the monthly box/e-commerce box. Entering the box and trade market is an ideal solution to discover products and generate new sales.
Besides, other companies have gone even further by offering to receive monthly payments, which need to be changed regularly. That’s the case with Rawzar. Their idea of the eCommerce box is to provide razor blades by subscription. Moreover, the company only sells its knives on the Internet to afford to offer competitive prices, which is much more interesting for its customers.
Business ideas to generate recurring revenues are numerous, and for the most part, easy to implement. Indeed, even a person with little computer science knowledge can set up a website to sell his products or services.
If this is your case, you may be looking for an easy-to-use and affordable payment solution. Payfacile is the solution for you. This turnkey system allows you to set up a recurrent payment system via customizable payment pages, as well as a subscription management system. So you can integrate them into your site or just share them with your customers on social networks or by email.