‍Description

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Think about your favorite wine or coffee of the month club. That’s Prepaid Clubs. Lock in that cash flow and delight customers with curated subscription experiences.

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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transactions: For businesses, less transactions from customers prevents the dreaded “passive churn” from expired or outdated payment methods.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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Use Cases

• Box-of-the-Month Memberships: Create fixed-price membership programs where you determine the product mix for each delivery. This allows you to showcase different products while maintaining control over inventory and fulfillment.

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• Giftable Subscriptions: Design giftable subscriptions with preset product sequences. This simplifies the gifting process while ensuring recipients receive a thoughtfully curated experience.

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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 for shoppers to receive 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 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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