Revenue growth means finding more customers, right? Not necessarily. And that’s fortunate because, as you know, it’s becoming more costly to acquire them. We see it all the time: brands that want to grow their revenue decide to focus their efforts and budget on acquisition marketing. Or, they say they want to focus more on retention, but don’t make changes to their strategy and actually do it.
This blog is part of a series about how and why retail brands must “earn the customer” – their trust and loyalty – to remain competitive in a digital world. See the first post on "Earn the Customer with Unique Brand Content on Your eCommerce Site".
If you can make a subscription model work for your eCommerce business, what’s not to like? Subscriptions can deliver more predictable revenue, more opportunities to upsell or cross-sell, and higher customer lifetime value (LTV). We work with many brands that ask us about subscriptions and how to integrate a subscription platform like ReCharge into their Shopify or Shopify Plus stores. We think subscriptions can be an exciting way to grow an eCommerce business, and have seen the most success with replenishment goods, like razors and vitamins, and curated items, like fashion and beauty boxes.