How Collecting Recurring Payments can help you Boost your Business

Recurring payments is a payment system that makes payments at intervals regularly. Businesses use recurring payments to collect money from customers and businesses. Having a simple and easy-to-use recurring payments system like Subscribie can help speed up your business model by automating the process. With Subscribie, you can automate the collection process so that the customer is charged at the intervals you choose (daily, weekly, yearly or a one-off charge). This makes the whole process much simpler for both you and your customer.

Recurring payments can help your business grow and thrive. Through recurring payments, businesses can build a relationship with customers by building a subscription based business model. Through subscriptions, your company can build a strong relationship with its customers and encourage them to become loyal customers. Choosing the right recurring payments system is a tough decision, so here's our case on why you need Subscribie and recurring payments. Here's how collecting recurring payments can help you boost your business.

Recurring payments are convenient for customers

People prefer to set up a service once and have it delivered to them regularly instead of having to remember to pay for something every time they need the service. For small businesses, this is particularly valuable as it means you are not constantly reminding customers about payments and with Subscribie you receive a notification when a payment fails and a simple on why it failed as well as the number of retries.

Builds loyalty

When you set up a subscription-based model, you are essentially entering into a long-term relationship with your customer. This builds trust and a reliable brand that they can rely on to provide ongoing service. This in turn makes your brand identity more reputable and helps to develop customer loyalty.

Get cash flow under control

As a small business owner, you may be worried about managing your time and balancing your time with customers and managing your business, not lending enough time to business management could lead to wrong invoices being sent or miscalculating credit from customers leading to loss of funds and avoidable risks and leading to other businesses taking the lead. Subscribie helps automate the process of collecting payments and generating invoices, leading to a consistent flow of cash.

It's always good to have a source of continuous cash flow for any business. By collecting recurring payments you always have a stable flow of income from your recurring customers who enjoy your subscription. You can count on them to buy your subscription every month which gives you the chance to expand your business, knowing you will always have recurring payments.

From a customer perspective, subscriptions are a convenient way to access products and services on an ongoing basis without having to pay for each transaction individually. It means that you don't have to spend time thinking about whether or not they paid for the month.

A consistent source of products/services

Recurring Payments are more convenient for customers than buying a one-off product or service. This means that they commit to paying a regular amount each month or week to receive your products or services. This is great for small business owners because you don't need to take money from the customer until they know you are going to deliver the goods or service to them.

Constant Customer Feedback

A product is never perfect, that's why with a subscription based billing system you have the opportunity to receive feedback from customers, this can help you optimise your service/product and grow your Customer loyalty and customer net promoter score. You can email your customers to get their feedback on your product after you export their email addresses from Subscribie.

Easy to use

As your customers only have to sign up once for their entire subscription, it makes it quick and easy for them to start using your service with Subscribie right away. Once they sign up they can rest assured that they will receive their product/service thanks to recurring payments.

Set-up of recurring payments with Subscribie as a business takes less than a few minutes, and some of our shops have many people signing up, so the sign-up process is extremely straightforward to avoid confusion or error so you are more likely to get signups. You don't have to ask for payments once you're set up because you can manage payments from the dashboard, and with a single click, you can edit, add or delete plans.

Lets you focus on providing great products and services

Rather than spending your time trying to chase up late payments and deal with customer service issues, you can concentrate on building your business. Many business owners are aware of the benefits that collecting recurring payments can bring to their businesses. They know that it can help to build stronger relationships with their customers without needing to worry about collecting payments manually and generate a steady flow of revenue that can be reinvested in the growth of their business.

However, this doesn't mean that businesses are any closer to figuring out how to get started. The process of setting up a recurring payment collection system used to be complex and confusing for the uninitiated. Not anymore!

Subscribie simplifies the process to the most essential aspects and allows you to start a recurring payment system in minutes. You have the freedom to create your own customizable recurring payment plans and add a logo to your automated website to list your subscription plans without the need for coding.

Try out Subscribie today and set up your recurring payments system.