‘Tis the time of year for holiday shopping, gift giving, and of course, sales and discounts. As we approach this busy shopping season, we know merchants like you are constantly thinking about the promotions and sales you plan on running.
We’ve covered a lot of different types of sales you could run this Black Friday already, but for this post, we're going to focus on promotions to sell more subscriptions using Bold's Recurring Orders app.
Here are five strategies you can implement this holiday season to sell more subscriptions:
1.) Use a Discount Code to offer a discount on the first order of a subscription
This is the most common type of discount we see on subscriptions, because it works! When you’re creating a Discount Code in Recurring Orders, it’s easy to specify how many orders it can be applied to:
Providing a discount on the first order reduces the initial barrier you need to overcome to convince someone to subscribe. Scroll down to step 12 on this article to read more about setting up this sale.
2.) Use the Convertible Subscriptions feature to offer a special first product on a subscription that changes to another product on the second order
If you’re selling a product that needs to be tried to be appreciated, such as a new coffee blend or skincare product, using our Convertible Subscriptions feature is a great way to convince someone to subscribe.
Here’s how you can use this feature to sell more subscriptions: offer a subscription where the first order is cheap (or free) and contains a trial-sized version of your product. This is an easy sell for your customers, because they get to try your product for nothing (or almost nothing).
The best part is, with Convertible Subscriptions, this trial-sized product can automatically convert to a full-sized and regular-priced product subscription on the second order. That means if your customers love the product, they will be automatically subscribed without having to lift a finger.
Like magic, right?
Here's another way you could offer a promotion using a Convertible Subscription. Instead of offering a discount on subscriptions, toss in a free gift for subscribers. With Convertible Subscriptions, it's possible to set up a promotion where a new subscriber would receive a limited-edition coffee mug with their coffee subscription. Our system would automatically include that mug on the first order, but not on future orders.
Read how to set up this type of sale here.
3.) Use Dynamic Discounting to allow customers to get reduced pricing for the first few orders
Offering a discount on the first order is great, but what if you want to offer an extended discount for Black Friday? With Dynamic Discounting, you can automatically offer discounts like: 10% off for the first 5 orders OR 10% off after your first 5 orders.
By offering a discount after a set number of orders, it incentivizes customers to subscribe, and stayed subscribed, for a while.
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4.) Offer Gift Subscriptions so your customers can buy a subscription for their friends or family
A lot of purchases during this time of year are meant to be gifts. Based on this reason alone, it’s imperative you allow your customers to buy subscriptions for their friends and family.
The main difference between a gift subscription and a normal subscription is that a gift subscription is set to recur for a short period of time and then expire. This allows customers to buy a prepaid period of time without having to worry about getting charged at a future date.
5.) Reduce pricing on existing subscription offerings
If you’re already offering subscriptions, it’s easy to offer discounts on new subscriptions. Simply open up your subscription group and change the subscription discount. Alternatively, you can change the price of the product directly within Shopify.
With Bold's Shopify Subscriptions app, you’ll be given the option to keep all existing subscribers at the same price, meaning, you won’t miss out on revenue you’re currently making.
We can help!
If you're looking to grow your subscribers during the holiday season, we'd love to help. Our support team can help you set up one of these strategies, and offer personalized recommendations for your store.
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