Subscriptions in WooCommerce

It’s all about subscriptions in today’s episode, a popular business model that’s seeing rapid adoption across the eCommerce world. Host Sam Greenspan is joined by two WooCommerce experts: Nik McLaughlin, a GoDaddy Technical Account Manager, and Tabitha Turton, a GoDaddy Product Manager, to discuss the ins and outs of subscriptions. 

The panel shares statistics and anecdotes on subscription boxes, reasons behind cancelling subscriptions, media and content subscriptions, and streaming services. 

From there, they cover several strategies to help eCommerce businesses incorporate the subscription model and get the most out of it: adding WooCommerce Subscriptions to a site, using WooCommerce Memberships for a more robust subscriber experience, tiered subscription pricing, and subscriber retention techniques.  

Finally, in the Q&A, the panel addresses reasons why a store might see low conversions from advertising as well as the right scenarios to work on localization for a WooCommerce store. 

Check out GoDaddy’s Managed WordPress Ecommerce hosting which includes many of the premium extensions discussed in this episode for free! https://www.godaddy.com/hosting/ecommerce-hosting  

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Extensions and services referenced (* - included in the GoDaddy Managed WordPress Ecommerce bundle) 

WooCommerce Subscriptions* - https://woocommerce.com/products/woocommerce-subscriptions/ 

WooCommerce Memberships* - https://woocommerce.com/products/woocommerce-memberships/ 

WPML - https://wpml.org/ 

Say What? - https://wordpress.org/plugins/say-what/ 

Loco Translate - https://wordpress.org/plugins/loco-translate/ 

Google Language Translator - https://wordpress.org/plugins/google-language-translator/ 

Translating WooCommerce Memberships - https://www.skyverge.com/blog/translate-woocommerce-memberships/ 

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Sources for statistics: 

• https://www.prnewswire.com/news-releases/global-subscription-e-commerce-market-is-expected-to-reach-us-478-bn-by-2025cagr-68-univdatos-market-insights-301115593.html 

• Subscription eCommerce market projected to grow 68% per year 
• Almost three out of four D2C eCommerce businesses will sell subscription services by 2023 

• https://www.shopify.com/enterprise/ecommerce-subscriptions 

• 40% of people have canceled an online subscription 
• Types of subscriptions: 32% for replenishment, 55% for curation, 13% for access 

• https://enterprise.plus.shopify.com/rs/932-KRM-548/images/Shopify_Future_of_Commerce.pdf 

• 15% of online shoppers receive subscription products today 

• https://www.invespcro.com/blog/e-commerce-subscription-model/ 

• 54% of online shoppers have subscribed to a subscription box at some point 
• Top reasons for continuing to subscribe: Personalized experience, convenience, value for money 

• https://www.mediaplaynews.com/study-us-svod-buyers-average-services/ 

• Average U.S. customer has 3.4 streaming services 

• https://www.bigcommerce.com/blog/conversion-rate-optimization/ 

• Benchmark conversion rate for eCommerce site is 2%