Every once in a while, technology gets developed which perfectly meets the needs of consumers as well as the entrepreneurs catering to them. The rise of Ecommerce platforms designed for subscription models coincides neatly with the legalization of cannabis, and everybody comes out a winner.
CBD, also known as Cannabidiol, is a phytocannabinoid which can effectively help to treat anxiety, movement disorders, pain, and more.
How does an online subscription model help sell CBD? Read on to learn more.
Subscription Model Basics
Many online businesses across industries now offer their customers the choice of subscribing to their products, so products they frequently use effortlessly arrive at their doorstep. This saves them from the hassle of having to repeatedly make the purchase, and the products are often offered at a discount because the seller has the reassurance of having sales lined up for months.
It makes sense to start a CBD Ecommerce business on a subscription model because CBD is a medicinal product which is used in regular, predictable intervals. Subscription models work best when the products are consumed regularly, and ones consumed on a fixed schedule definitely qualify.
CBD is a much more mild form of cannabis, so much so that it doesn’t get you “high” the way marijuana consumption usually does. Most people in studies on CBD consumed between 20 and 1,500 milligrams per day, and people using CBD medicinally often need it every day.
In other words, it’s exactly the type of product most suitable for a subscription model.
Revenue Maximization
Just because your customers use your product daily doesn’t mean you can afford to take their business for granted. Today’s online subscription businesses use Ecommerce platforms to help drive sales in ways that also add convenience for the consumer.
One good example of this is platforms which proactively ensure customer credit card information is up to date. This spares them the annoyance of having to manually update it themselves, a task which sometimes spurns them to cancel the sale.
Ensuring card data is accurate before a billing cycle also dramatically improves rebill rates. It strengthens customer relationships while driving revenue, two huge wins for any online company.
Robust Security
Any online business has major security needs surrounding payment and sensitive data information. Online CBD companies have them too, since it’s a medicinal product that users may prefer to keep confidential.
Rely on an Ecommerce platform which has the expertise and experience to protect the data of enterprise-level companies. Also, they should have the partnerships and specialists on-hand to identify and combat fraud.
When your company has suspicious transactions declined in advance and proactive chargeback protection, it will be able to grow and confidently process sales.
People looking to use CBD want it to arrive conveniently at their door, and they want the buying process to be secure and streamlined. Thankfully there is finally technology which facilitates exactly this in the form of online subscription businesses — that’s why it makes perfect sense for those looking to sell CBD online to use an Ecommerce platform specifically designed for subscription-model businesses.
