Repeat Products
A repeat product is a product that is purchased sold on recurring billing frequencies. The billing frequencies may change, depending on a customer's requirements. Repeat products can be either physical, such as personal care items or digital, such as streaming services or software as a service offerings.
A major benefit of the repeat products model is stable and continuous revenue, making it easier for you to forecast sales and inventory more accurately. It also encourages customer retention and loyalty, allowing you to get to know your customers over a longer period of time, and potentially growing your business with those customers.
Characteristics of Repeat Model
Using the repeat products model, you can:
-
offer a trial period.
-
set weekly, monthly, and yearly billing cycles.
-
set different prices for the same products
-
set separate pricing according to each:
- product
- plan/billing cycle
Repeat Product Example
The following steps describe how to create a repeat product for razors.
-
Create the product:
- Razors for men
- Razors for women
-
Assign prices to these products.
See Repeat Products.
-
Create a plan for each billing frequency, for example:
- 1 month
- 2 months
- 6 months
See Plans.
-
Create an offering that combines each product with the plans.
- offering 1 - Razors for Men with all plans.
- offering 2 - Razors for Women with all plans.
See Offerings.