In the US, 41% of online store revenue comes from returning and repeat purchasers, who constitute only 8% of all visitors, according the following infographic from American Express OPEN Forum and OrderGroove.
Businesses can therefore increase revenue by ensuring they have returning and repeat customers, and one of the best ways of doing that is to adopt a subscription model.
Subscription models also have other benefits for companies. For one, they help foster customer loyalty because they result in being regularly in touch with customers.
Also, subscriptions enable "better serving top customers, growing goodwill, and earning word-of-mouth-promotion," notes OrderGroove.
Moreover, companies that use subscriptions have a "built-in, recurring opportunity to market additional products," according to the infographic, published in Fast Company.
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