Subscription services have become a cornerstone of modern commerce. Subscription services offer businesses a reliable way to boost recurring revenue while fostering customer trust and loyalty. Whether it’s exclusive content, the ease of receiving curated products or services regularly, or the chance to discover something new, subscription programs meet the needs of today’s consumers.

From streaming services like Netflix and Spotify to subscription boxes such as FabFitFun and BarkBox, this model has shown flexibility and explosive popularity. But what does this mean for high risk industry retailers, such as cannabis?

With Subscriptions by Springbig, you can bring the power of subscription services to your business. Subscriptions not only encourage customers to commit to repeat visits but also gives your store the opportunity to deliver added value through exclusive offerings and curated experiences. Let’s explore how this innovative tool works and why it can be a game-changer for your marketing strategy and business growth.

Subscriptions by Springbig: An Overview

Subscriptions by Springbig is a fully customizable program built to meet the unique needs of regulated businesses. This native feature empowers retailers to craft subscription tiers that include benefits like curated product bundles, bonus loyalty points, and exclusive discounts.

Here’s what sets Springbig’s subscription services apart:

• Flexibility to Create Unique Plans: Retailers can design subscription tiers that align with their business goals. This includes discounts, VIP loyalty rewards, and regular distribution of curated products.
• Customizable Features: Everything is customizable-from welcome messages and to exclusive offers—so retailers can create a program tailored to their brand.
• Box of the Month Option: For businesses looking to go the extra mile, Springbig’s subscription builder supports a Box of the Month program. Allowing retailers to curate and distribute themed product boxes to customers on a monthly basis.
• Low Cost, High Reward: Subscriptions by Springbig are risk-free to set up, requiring no upfront cost. Instead, there’s a small revenue-sharing agreement, making this feature an affordable way to grow your revenue and customer base.

Why Customers Love Subscription Services

The popularity of subscription services lies in their ability to provide consistent value, convenience, and exclusivity. Here are some of the top reasons customers are drawn to subscription programs:

• Effortless Purchasing: Subscription programs save time by automating purchases, ensuring customers never run out of their favorite products.
• Exclusive Access: Subscriptions give customers access to perks and promotions not available to non-subscribers. This builds trust and enhances brand loyalty with subscribers.
• Consistent Access to New Products: Whether it’s a curated box of new products or a steady supply of their go-to favorites, customers love the consistency of regular deliveries.
• Predictable Costs: Subscription services help customers budget more effectively by clearly outlining the pricing and frequency of their purchases upfront.

By offering subscription programs, your business not only meets these customer preferences, but also builds trust and encourages repeat visits, creating a loyal customer base.

What’s in It for Retailers?

Subscription services aren’t just beneficial for customers—they’re also a powerful marketing strategy for growing your business. Here’s how they help retailers:

• Recurring Revenue: Subscriptions create a predictable stream of income through regular billing, making revenue more consistent and reliable.
• Increased Customer Retention: Customers who subscribe are far more likely to return repeatedly. Subscriptions create a sense of exclusivity and belonging, while enhancing brand loyalty.
• Higher Spend per Visit: Subscribers are typically your most engaged customers, spending more on average per visit than non-subscribers.
• Enhanced Marketing Opportunities: Subscription services allow retailers to personalize their marketing strategies, targeting subscribers with offers and promotions that encourage further purchases.

Cost-Effective and Risk-Free

The biggest standout features of Springbig’s subscription program is that it comes with no upfront costs, making it a risk-free option for retailers. Instead of requiring a large initial investment, the program operates on a small revenue-sharing model.

Retailers only pay a small percentage of their subscription revenue to Springbig. This ties subscription costs directly to success. Springbig’s subscription program offers a cost-effective solution that eliminates financial barriers, making it an easy choice for businesses looking to grow their revenue without significant upfront expenses.

Springbig Subscription Success Stories

Springbig’s Subscriptions feature has already proven to be a game-changer for many retailers.

For example, one cannabis retailer implemented a VIP subscription program, including the Box of the Month feature. Within just three months, they generated over $35,000 in subscription revenue. On top of that, VIP subscribers visited the store 45% more often and spent 30% more per transaction on average than non-subscribers.

Another retailer who launched a subscription-only program saw 4.6x more frequent visits from subscribers over six months. This retailer saw a $10 increase in their average basket size, compared to their members who are not a part of their subscription program. This showcases the impact of encouraging customers to engage with your subscription service.

How to Implement Springbig Subscriptions

Setting up a subscription program is simple and seamless. Springbig gives you all the tools to encourage customer engagement and loyalty. Here’s how to get started:

1.Enable the Feature: Contact Springbig’s team to activate the Subscriptions feature within your account.

2.Build Your Subscription Program: Choose a name, set a billing schedule (monthly or annually), and highlight the benefits.Options include:

• Free trials to entice new subscribers.
• Exclusive offers, bonus loyalty points, and VIP welcome messages to reward loyalty.
• Customized subscription tiles, prompts, and marketing assets to promote the program.

3.Train Your Staff: Equip your team with the knowledge and tools to explain the program’s benefits to customers effectively.

4.Launch Strategically: Promote your subscription program through in-store signage, online campaigns, and targeted marketing messages. The Springbig Team can help with this!

5.Monitor Your Success: Use Springbig’s analytics tools to track your program’s success. With Springbig, retailers can track subscriber growth, cancellation rates, and estimated annual recurring revenue (ARR).

Build Trust and Drive Repeat Visits

Subscription services are more than just a trend—they’re a proven marketing strategy that can transform your business. By introducing Subscriptions by Springbig, you’re giving your customers access to exclusive products and experiences while encouraging repeat visits. Whether you launch a VIP subscription program, a Box of the Month program, or a mix of both, you’ll foster loyalty, increase customer retention, and generate steady recurring revenue.

Ready to transform your business with Springbig’s subscription program? Contact Springbig’s Loyalty 2.0 team today and start designing your custom subscription service!