PSA: You've lost control of your subscription ecommerce business without realizing
@Shopify , Cratejoy, @Wix and other ecommerce platforms don't let you take your payment tokens with you if you choose to leave.
Whilst selling you on the benefits of their own payment solutions (Shop Pay, Shopify Payments, Cratejoy Payments, Wix Payments etc), you have unknowingly given up control of your business.
👉 Even if you use your own Stripe account platforms have figured out how to keep your tokens on their side.
As platforms move towards whitelabeled gateways and consumer facing wallet products, they have silently enforced policies to prevent you moving away.
Businesses evolve and change over time and so do your technology requirements, not being able to leave is a major concern.
Running a business is stressful enough as it is, and problems happen, and when you decide it's best to switch platforms this blocker will not be a very welcome one.
Holding your data hostage anti-competitive and restrictive, it should be illegal.
Payment tokens are the life-blood of a subscription business, without them you can't charge customers.
"But I don't care, it doesn't affect me right now..."
I hear you, you might be busy, focused on surviving or this current next objective, then you can think about it?
Well we had 1 merchant with 80,000 subscribers want to move to us, and another with 50,000 subscribers.
They were shocked to find out they couldn't, and pissed off as you can imagine.
So don't skip over yet.
Ok, so now what?...
First you should get familiar with your current situation, I made a simple health-check quiz to figure out your current "status". Go here 👉 https://t.co/szCIg4906e
Next, you should absolutely complain and make a noise.
Regardless if you are thinking about switching or not, you should consider your future state and your fellow business owners.
And if you are thinking about switching you will need to do a “subscription switch” protocol, we developed an effective one with special tools at @Subbly.
And just to be clear... my stance on this topic is absolute and clear – we don't hold your data hostage at Subbly.
As a subscription-first platform we build both our tech AND our policies around subscription businesses. So you're in safe hands.
I may be a CEO of a competitor, but this has become a major overreach by tech platforms and it needs to stop.
P.s. @stripe and @Adyen are not innocent either, they should enforce their own policies that prevent these anti-competitive anti-business practices.
Just had a call with @StefanPretty and the team at @Subbly. They're rebuilding my https://t.co/VH70Ja3Dpo website live on the call. Incredible customer service. Thank you!
"It's like magic".
Even our eng team says this since internal testing began.
Arguably biggest AI Builder update—yet most subtle.
Video shows new product create/edit features.
See how much time/effort it saves when building & launching your dream subscription site.
(Skip to ~3mins to get right to it)
Churn expert @RobertSkrob did an insights extraction from our churn report we launched last week that's been doing the rounds.
He highlights 2 critical things for subscription ecommerce buisnesses...
🧵...
In fact in one case we saw a merchant increase their one-time up-sells by 300% just by turning certain features on. That's just extra money up-front to fund those ads.
2. The *churn paradox* tells us AVO/price doesn't impact churn, so make the most of those up-sells and do price testing
This one can change your business overnight.
So the boffins at Subbly have finished crunching the numbers of our merchants, and here's the results from 2024 BFCM.
Thursday: +13.6%
Friday: +149.8%
Saturday: +188.2%
With an 117.2% average increase.
*Numbers are relative to the same time period the previous month.
You'll notice there's an interesting trend, the Saturday is usually higher than the Friday itself.
TL;DR ya'll crushed it this year. Well done indeed.
Less than a month since the end of @Sub_Summit and we’re already counting down to next year! Special thanks to all the Experts who made the Experts Bar such a success — some guests said it was the most valuable part of SubSummit, and we couldn't have done it without you! 💪
Joining us at @Sub_Summit 2024? Book your consultation at The Experts Bar and get your burning questions answered in a free, private session with one of the industry's finest! Limited spots available – book yours here 👉 https://t.co/HpT0zjbj9P