Pre-paid subscriptions allow your customers to pay for multiple orders upfront while ensuring they receive their product regularly.
For example, the customer is delivered monthly but pays every 3 months upfront for all the next 3 deliveries together.
How does Pre-paid option benefit your business?
Pre-paid subscriptions' main benefit is increasing customer retention. Where one monthly subscription may cost $10, purchasing a three-month pre-paid subscription might only cost $27, and a six-month subscription may only cost $48.
So basically, if the customer pre-pays for their next 3 or 6 orders, they get a 10-20% discount. This way, customers can pre-pay for their subscriptions and save while your business benefits from increased customer retention.
How does it look on the product page?
You can define multiple pre-paid options with different frequencies on one product. You don't need to change the actual product price to create pre-paid selling plan. Subify will automatically calculate the prices based on the details you define and show them to customers.
Customers can choose between pre-paid options in the widget and compare the price of pre-paid option per every order with the one-time purchase price. So, if a product costs 10$ and the pre-paid option for 3months has a 10% discount, customers compare the 10$ with 8$ per each order.
They can also see the total price they have to pre-pay in the product price section.
Create a pre-paid subscription plan
In the Subify app panel, go to the Subscription plans tab.
Click Create subscription plan.
Add the product you want.
Click on Add Selling plan.
In the Selling plan type, choose Pre-paid subscription from the drop-down menu.
In the "Deliver every" section, set the delivery frequency: when you would like to ship the product to your customers.
In the "Bill every" section, select how often you would like to charge your customers upfront for their scheduled shipments.
For example, if you choose Delivery every 1 month and Bill every 3 deliveries, means that your customers will pay for their next 3 deliveries up-front and receive one order every month.
Set a discount. (It is not mandatory, but it would encourage your customers to subscribe to the pre-paid option)
Click on Save.
Check this gif on how to make a pre-paid selling plan: