Subscription-based services are gaining popularity increasingly. By adopting the subscription model, businesses can successfully cut company spends, increase turnover and strengthen their relationship with their customers. However, offering a robust recurring payments solution is key here.
We have combined the unique benefits of Paytm Subscriptions and Paytm Payment Links to help businesses leverage the advantages of recurring payments while creating a seamless ecosystem for their customers.
A variety of businesses today can benefit from the implementation of a subscription link. The most popular use case is the entertainment sector.
OTT entertainment platforms have been pioneers in using the recurring payment model to keep customers satisfied with endless services and monthly or yearly payments.
Many other sectors are adopting the recurring payment model. Large conglomerates in the BFSI sector collect payments from EMIs, SIPs and trades using subscription links.
Similarly, home and furniture rental businesses, utility payment service providers, subscription-based blogs/online book services/music apps/gaming services, online education apps and even mid-sized daily food/grocery delivery services rely on subscription payments for successful business outcomes.
So, if you are looking to enable recurring payments and take your business to the next level, read on and get to know how you can leverage the power of the Paytm Subscription Link.
Benefits of Paytm Subscription Links
Outlined below are the key benefits Paytm Subscription Links can offer to businesses that rely on recurring payments:
Save time for you and your customers
The easy-to-access Paytm Subscription Link does not require any technical expertise to use.
In just a few steps, you can build a subscription plan, associate an amount with a plan and create a subscription link for every customer using a merchant dashboard available on the platform.
This customization includes setting up payment frequencies within just a few clicks.
Here you can choose how frequently you wish to charge the customer for the service they use. Once you are ready with a subscription plan, you can create the payment link and send it to your customer.
Additionally, Paytm Subscription Link allows you to add multiple customers against the same plan and send out links to them via automation.
The subscription link then helps customers save time by directing them to the payment gateway. Here, customers can choose from various payment methods and pay for the plan.
Plan your business revenue, effortlessly
Subscription services usually lower the cost of entry, therefore raking in a large number of subscribers. These subscribers can then enjoy your service after paying either a one-time fee or a recurring fee.
Usually, customers buy subscription services, which have a longer period, since the barrier to entry for subscription services is low. It encourages the use of trial periods and limited offers to attract customers in the long run.
If you have a product that hits the mark on quality, feedback, customer listening and delivers an ongoing uninterrupted service; your revenue is bound to be satisfactory.
One recommendation is to ensure customer engagement, reputation management and product quality assurance.
The business end of things is entirely dependent on your delivery of services. However, to build a better image of your business and increase revenue, it is important to give customers an immediate and hassle-free platform to make payments.
Reduce costs for your business
Businesses tend to hire employees to manage individual services and take action in the customer care and service sector. A large part of this investment is avoidable by adopting a subscription link service that automates the entire process for you.
The Paytm Subscription Link comes with automation to charge customers, send them email and SMS reminders for overdue payments or renewals. It helps customers keep track of their purchases while your business saves money on hiring manual labor.
When a solution caters to all the aspects of your business, you don’t need to hire human resources, which leads to reduced costs.
Deliver uninterrupted services to customers
When there are no barriers between payments and services, customers tend to stick around longer.
A weekly, monthly or yearly automatic reminder attached with a renewal link can notify your customers of their services coming to an end. It will also allow them to make the renewal payment immediately.
It eliminates the need for constant calls, emails and text messages exchanged between an executive and the customer.
When customers feel in control of the service you provide, it enables a sense of faith in your product. This ultimately leads to seamless customer care and better business outcomes.
With so many advantages to offer, Paytm Subscription Link will accelerate growth for your subscription-based business. Visit our website for information on how you can implement a recurring payment system for your business now.