Best E-commerce Platforms for Your Box Subscription Business

Published on: 22 January 2019 Last Updated on: 22 February 2020

The majority of product-based firms are supplementing their model of revenue by adopting the box subscription stream for revenue. An example is the Blue Bottle and Stumptown Coffee in the coffee industry. In the place of being websites which are one-stop-shops for products that relate to coffee, both of them are sources of recurring deliveries to the clients of these beans. Conversely, other you can opt for ProfitIndustry top 5 best e-commerce platforms for box subscription business for purposes of gaining from their benefits.

Enhanced experiences for customers:

Loyalty comes from providing the best experiences for customers. When you strive to provide the best experiences for customers, you are formulating good customer relations. It leads to overall business sustainability, brand loyalty, and repeat purchasing. Companies that focus on providing superior experiences to customers realize positive results that include increased growth in revenue and customer satisfaction. Making things low-friction or smooth for the customer is the best way of providing excellent customer experiences.

Convenience:

With ProfitIndustry top 5 best e-commerce platforms for a box subscription business, the products will get delivered in a recurring manner, at the frequency of the shopper, and the client will not get worried about the products getting depleted.

Better return on investment in customer acquisition:

Business growth relies on the scalability and efficiency of your strategy of acquiring customers. As the business continues to grow, you will have to open new customer acquisition channels or focus on those channels that favor repeat business from current clients.

Regardless of the way you refine the strategy, new customer acquisition will be costly. More than eight percent of companies find it easier to retain current customers than acquire new ones. For this reason, the box subscription model seems to meet that requirement nicely. In case the customer wants to get an item that will run out, you can assume that he is becoming a repeat customer than if you are concentrating on products that are one-sided.

The investment you will incur in convincing first-time visitors is higher than compelling previous purchasers. You may spend a lot of money on adverts on new clients while convincing existing ones may need targeted emails. Revenue from such business will be higher than first-time clients. The difference is in the fundamentals of ProfitIndustry top 5 best e-commerce platforms for a box subscription business. The model is retention-based; which ensures that recurring revenue from repeat clients is executed well. This strategy is the best recipe for the sustainability of the business. Selling your service or product in the standard way means you will work hard to convert users to buyers and work very hard to convert them to repeat buyers.

Better prediction of revenue:

The best thing about ProfitIndustry top 5 best e-commerce platforms for a box subscription business is that you maintain a revenue stream that is reliable. In most cases, when the company predicts revenue, assumptions come from previous sales, salaries, and overall expenses. Nonetheless, the subscription model offers a good way of forecasting revenue by tightening elements of revenue prediction that vacillate.

Since box subscription business has its basis on retention, the owner can predict the lifetime value of the customer. Gathering the income of clients on particular periods will help you predict your future revenue.

Conclusion:

Currently, clients can order almost everything online. Some firms take advantage of this ease by capitalizing on elements that other models of businesses find it tricky to implement the delight of customers. With omnichannel being on the tongue of all marketers, delighting your customers is genuinely demanding. When you bring in elements of surprise, you will please your customers. When you offer a box of unknown items monthly, customers will be happy to receive the things that are new or will consider purchasing individually due to price.

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Magento vs. Shopify: Which Is Best For Your E-commerce Store?

The first quarter of 2019 has almost passed, and it has been predicted that 18% of the purchases will be made online by 2040. Further, 95% of the orders will be facilitated by e-commerce store. Considering the above statistics, it comes as no surprise that the fate of your online business is dependent on how your website works. But did you know that all your website operations rely on the choice of your e-commerce platform? Now, as the online store owners narrow down the choices, they are only left with two main platforms as the contenders- Magento and Shopify. While both platforms can create a one-of-kind e-commerce store, they differ in many areas. To start with, Shopify works best for smaller businesses. On the flip side, Magento is aimed at enterprise businesses. This post is going will give you an in-depth insight on Magento and Shopify and help you decide which is an ideal platform for your e-commerce store. Magento and Shopify in a Nutshell: e-commerce store Magento: Launched in 2007, Magento is a self-hosted e-commerce platform that powers a number of web stores. The platform is open source and comes with two versions including community (suitable for developers and small businesses) and enterprise edition (best suited for mid-sized and large e-commerce stores). The usage of the platform is free, but you’ll have to pay an amount for premium apps, themes, and hosting. Irrespective of the price you have to pay, this platform is best known for its flexibility, ability to customize, and scalability. Shopify: Shopify is a hosted e-commerce platform that allows single-step order fulfillment and lets you set up a store with a custom domain and a theme. This platform comes with an easy-to-use interface and is more for beginner developers. Moreover, it comes with a 14-day free trial, allows integration with over 70 payment gateways, and is available in almost every language. Although there are numerous Shopify alternatives available across the web, what sets this platform apart from others is its ability to set up a dynamic store in no time. You will have to pay for the platform after the free trial, but the Shopify team takes care of all the technical tasks. Magento and Shopify: What Numbers Say! Description Shopify Magento Number of Websites 600,000 250,000 Number of Extensions 2,400+ 3,000+ Number of Themes 60 (external purchase is allowed) 12 (external purchase is allowed) Now when you are aware of what these platforms are, here is a feature comparison of Magneto and Shopify. 1. Basic Functionality and Ease of Usage: Both the e-commerce platforms have all the basic store functionalities that are easy to use and maintain. But if we compare both the platforms, Shopify is a drag and drop website builder. Magento has a steep learning curve, and you will have to learn some technical terms to get through the e-commerce store development process. With Shopify, the developer can add the products; customize the look and feel of your store and set up the payment process in no time. The best part is you can make the entire e-commerce store without any technical knowledge. In Magento, you have to learn some code to develop an entire e-commerce store. Not to forget, they have comprehensive user guides that walk you step-by-step through various processes. They also have a forum from where you can learn some tricks of the trade. 2. Search Engine Optimization (SEO) When it comes to SEO, both have great search engine optimization capabilities. However, you’ll have to leverage extra plug-ins in the cases for both platforms. But in the case of Shopify, SEO features are automatically built into the website, even in the product pages. 3. Themes and Templates Availability: In terms of themes and templates, both platforms offer highly-functional customization capabilities. They let you edit the raw code directly and give you full control over the design and appeal of your e-commerce store. Coming to the differences, Shopify offers a wide variation of mobile-optimized themes. Although many of them are free, if you go for the paid ones, your store gets a professional look and gets equipped with great sales potential. You also get the option to add new pages, change the color palette, move or resize the elements, and integrate the social media feeds. When it comes to Magento, it has 12 themes. Out of 12, 10 of them are fully responsive. This platform does have free themes, and the paid ones also start at just $1. With this platform, you can also create your theme or template from scratch. You have the option to add a slide, newsletter, and animation to the website. 4. Inventory Management: All Shopify plans allow unlimited products in the store. Magento also allows you to add or create an unlimited number of products on the website. But Shopify is one step ahead in this point due to its integration with drop shipping inventory apps such as Oberlo. Further, in Magento, you have the risk of slowing down your website. 5. Hosting Features: Your website's performance, storage, security, and speed are dependent on the hosting you choose. Did you know that 40% of people will abandon a website if it takes more than three seconds to load? This will result in a loss of customers as well as revenue. As Shopify is a hosted platform, it takes care of your entire domain and hosting needs; offers you 24*7 support, and let you concentrate on your business. Magento comes with two hosting options, including Open Source and Cloud. In Open Source hosting, you have to buy your domain and hosting. But in the case of Cloud, your e-commerce store is hosted and maintained by Magento. 6. Payment Processing: Shopify platform is already equipped with a payment processor, which is known by the name of Shopify Payments. If you use Shopify Payments for your e-commerce store, you won’t be charged any transaction fee. Moreover, it comes with the support of 60 external payment processors. For Magento, you will have to download the extension of the payment processor that you want in your e-commerce store. You can look for these extensions in Magento’s marketplace. However, some factors that make Magento worth the consideration are international market coverage and support for multiple languages. Summing Up: When it comes to choosing an ideal e-commerce platform, there are lots of factors to consider including interface, scalability, number of themes, templates, speed, load time, cost, search engine optimization, and more. Is Shopify worth it? If your considerations are ease of usage, availability of themes, not wanting to pay the transaction fee, and having the hosting and bandwidth taken care of, look no further than Shopify. It is user-friendly, has a payment processor, and comes with an array of themes to help you get started. But if you are technically savvy and want to build an e-commerce store for a large enterprise, go for Magento. With this platform, you will also have to find your hosting provider, which can become expensive, as your business scale. Moreover, there is a chance that you might have to invest some time as well. If you are still stuck on the decision, skim again through the comparison of features, weigh their pros and cons, and make the best choice for your business. Read Also: What Are the Common Causes of Catastrophic Injuries? Top 5 Sites Like Solarmovie To Watch Movies Online Do I Have To Pay Out Of Pocket For Wisdom Teeth Removal?

Required Content Marketing for Your E-Commerce

According to HubSpot, in 2019, 75% of the world's companies used content marketing and found it more efficient than other ways to attract customers. Small businesses with up to five employees predominate among them. The fact is that young companies with budget deficits, in contrast to large market players, prefer to invest in useful content, offering users detailed and objective reviews. Popular sites for content marketing: Blogs on a store's website or a third-party site; video channels; thematic forums; affiliated websites. A blog on an E-Commerce site may include product reviews, sales leader ratings, interesting case studies, recipes and application examples, detailed answers to customer questions, stories about creating a product line and other useful content that will show your expertise in this subject. YouTube channel is an absolute must-have for shops, whose products can be spun in the hands, show in work and express their impressions. For today YouTube is a search engine where you can find answers to almost any questions. Tell your customers which bike is best for the city and tires for the ice. And you'll notice how customers will reach out to you. Thematic forums and partner sites are the right places to post quality content, where you can demonstrate expertise in your niche. User-generated content of the E-Commerce E-commerce is an excellent platform for generating content by users and customers. Reviews, Q&As, photo and video reviews of products provide an opportunity to receive unique and useful content almost for free. It's enough only: simplify registration; add authorization through social networks; abolish premoderation; motivate users to communicate and express themselves; ask to bark, share in social networks; provoke discussion; to give bonuses for comments or reviews. The advantage of content marketing can be considered an increase in the image and customer loyalty due to the trust in the expert opinion of the store. With the same level of traffic to useful content and to the selling page, the content gives the best conversion into sales. If your niche is not yet engaged in content marketing, you have a great opportunity to become an expert and leader in their field. The disadvantage of this method of attracting clients in high labor costs and the long-lasting effect of investments. But during the regular publication of quality materials, the cost of each client involved is constantly falling, which makes content marketing profitable in the long term. Criteria for the effectiveness of content marketing Google Analytics, together with E-Commerce reporting, allows you to track all quantitative and qualitative indicators of content marketing efficiency: viewings; malfunctions; time on the site; number of subscribers; likes, reposting, comments; returns to the site; lids and sales; conversion rate; marketing costs. Sales and lids are just one of the criteria for efficiency. Much more emphasis is placed by experts on the involvement of the audience, which is subsequently converted into sales. Read Also: 7 Proven Marketing Tactics to Increase your ROI in 2018 Creating Successful Mobile Games: What You Need to Know

Ways That You are Wasting Money on Marketing

Marketing is vital to every company's success. Without the correct marketing strategies employed, no one will know about your business. Even if you have high-quality products, no one will care about them since they do not know that your business exists in the first place. It is true especially for small companies that are yet to create a name in the industry. Allotting money for marketing plans could boost your success. Make sure though that you spend it wisely; otherwise, you will be wasting the opportunity to advertise. You started marketing without a strategy: Not all marketing strategies work. Some of them are expensive, but you do not see the results. Others are free, but the tactic could attract a lot of people. The marketing plan is a long process that begins by researching the people that you are targeting. You need to know what they want and what advertising strategy appeals to them. For instance, if you decide to release a video ad online, it needs to be short and concise. Within that short time, you can capture attention if you have a strategy; otherwise, no one will watch it. You are not spending enough money: If you think of using a portion of your budget for marketing, you need to go all-in; otherwise, you are wasting the opportunity. Some marketing strategies are expensive and require you to invest a lot. However, you also build your company's name in the process. For instance, if you want media coverage in a massive event that is going to happen in your area, you need to spend money to be a major sponsor. If you are going to release a TV commercial, you need to spend money on quality production. You still need to be smart in determining how much to spend, but you cannot keep reducing the budget. You expect quick results: The problem when some people spend money on advertising is that they expect results right away. It does not work that way. When you advertise, you need to wait for a while before you see things go in the right direction. The reason why it is essential is that some people decide to give up and stop spending when the advertising efforts are still going on. Once you choose to use an advertising strategy, you cannot abandon it in the middle of the process just because you think it is not working. You are spending everything on one strategy: It would be a disaster if you invested all your money in one marketing effort, and it failed. Diversifying your tactics will help a lot. If you think that online marketing works, you can invest in it. However, you cannot assume that it will be successful. As such, it also helps if you spend money in other areas like the use of conventional marketing methods. You can try garment t-shirt printing since it is a proven technique that many businesses still use. You may also start giving out flyers and posters. Be careful in using your money for marketing and make sure you are investing it in the right way. Read Also: Top Tips For Making Business Purchases 7 Social Media Tips For Your Business Dos And Don’ts Of Marketing For Technology Companies The Importance Of Saving: The Bedrock Of A Bright Financial Future

Best E-commerce Platforms for Your Box Subscription Business

Enhanced experiences for customers:

Convenience:

Better return on investment in customer acquisition:

Better prediction of revenue:

Conclusion:

What You Should Know before Hiring A Translation

Cold Calling Script for Successful Sales Persons

Content Rally

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

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Related

Magento vs. Shopify: Which Is Best For Your E-commerce Store?

Required Content Marketing for Your E-Commerce

Ways That You are Wasting Money on Marketing

Best E-commerce Platforms for Your Box Subscription Business

Enhanced experiences for customers:

Convenience:

Better return on investment in customer acquisition:

Better prediction of revenue:

Conclusion:

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What You Should Know before Hiring A Translation

Cold Calling Script for Successful Sales Persons

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

Leave a Reply

Popular

Follow Us

Recent

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