‍Description

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Think about your favorite wine or coffee of the month club. That’s Prepaid Clubs.

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Prepaid clubs allow subscribers to select or swap their products with every delivery cycle, creating a personalized experience they'll love. This boosts customer satisfaction and guarantees a steady cash flow for your business with upfront payments.

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The Benefits

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• Increase cash flow: Prepaid memberships provide immediate and upfront payments, allowing you to invest in inventory and marketing without waiting for recurring payments.

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• Less transactions: For businesses, less transactions from customers prevents the dreaded “passive churn” from expired or outdated payment methods. This locks customers in for the long subscription with less risk of losing them. 

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• Easier forecasting and inventory management: Prepaid subscriptions give businesses a clearer insight into what level of stock they’ll need and when. With payments made in advance, companies can guarantee minimum stock values needed in the upcoming months. This simplifies inventory management, reducing the risk of both overstocks and shortages.

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• Improved customer loyalty: By encouraging customers to commit for a set period, you have more opportunity to drive new product adoption and ultimately get customers hooked on your products.

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• Personalized customer experience: By encouraging customers to commit for a set period, you have more opportunity to drive new product adoption and ultimately get customers hooked on your products.

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Use Cases

• Box-of-the-Month Memberships: Box-of-the-Month memberships offer customers the freedom to select their products each month for a fixed membership fee. This is the ultimate combination of offering your shoppers complete control and having your cash flow secured.

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• Giftable Subscriptions: Offer customizable giftable subscriptions that allow recipients to choose or swap products. This eliminates the guesswork for shoppers, ensuring gifts are tailored to individual preferences. By making gifting easier and more personal, boost adoption of giftable subscriptions and enhance customer satisfaction.

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• Deeper Discounts: The best way to incentivize subscribers to choose prepaid options is by offering deeper discounts for longer subscription periods. This not only improves your cash flow but also gives shoppers more time to engage with your brand and build loyalty.

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• Seasonal Subscriptions: Personalize your seasonal subscription with the flexibility of shoppers to pick their favorite seasonal products or flavors.
  • See how McGee & Co leverages Smartrr's Prepaid Clubs for seasonal wreaths!

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• Discovery Sets: Boost product adoption by introducing discovery sets as initial orders or integrating them throughout the subscription journey, allowing customers to explore and find new favorites, and unlock new revenue streams.

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How it Works

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1. Set your prepaid billing frequency and discounts: Kick things off by creating a new subscription program that fits your prepaid goals. Think about how often you want to bill customers and how frequently you'll ship products. 

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2. Configure the order of products in your prepaid club: Use the 'sequential flow builder' to set up your product lineup. It's as easy as drag-and-drop, so you can get your subscription program up and running quickly. Set up your products to create the perfect sequence for your customers.

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3. Determine if you want your club to loop or end after a certain amount of deliveries: Here's where you decide how your subscription journey looks. You can set up a loop so your customers get a repeating cycle of set products or end the subscription after a set number of deliveries.

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4. Customers pay upfront for set number of deliveries: Make it clear in your subscription description what customers are getting into. For instance, a 3-month prepaid subscription could mean they're paying upfront every 3 months for monthly deliveries, or it might be a one-time payment for a short-term subscription. 

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‍5. Customers can view upcoming orders and manage their subscription: Customers can see their next order details and manage their subscriptions in their account portal. They're locked in until their next prepayment cycle, but they can hit pause, swap products or cancel anytime, keeping your customers happy and in control!

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Implementation

Ready to launch prepaid clubs?

Prepaid Clubs are currently available on our Excel plan. Contact us and we can show you how to set this up!

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