A good business strategy - learn everything about Hotmart’s subscription solution

A good business strategy - learn everything about Hotmart’s subscription solution

Want to learn everything about Hotmart’s subscription solution? Well, keep reading!

The Hotmart Members’ Area (Hotmart Club) is ideal for you to get organized and sell your course online, and deliver your content automatically and in the way that best suits your strategy and type of business. With the Members’ Area features, you can add value to your subscription service. 

One of the advantages is being able to offer your subscription product in another course you already have in the Members’ Area. Stay with us and we’ll explain everything. 

 

Members’ Area and Subscription Service – Strategies that work

With The Hotmart Members’ Area, you can provide your students with a unique learning experience. And, you can also generate positive results for your sales. 

But what is a subscription service anyway? 

As you probably know, a subscription service is a model in which customers pay an amount for a continuous period and have access to a certain product or service. Many brands use this type of business model, such as Netflix, Spotify, Amazon Prime Video, and many others. Simply put, a subscription service is merely the periodic payment of a given amount in order to have access to a service or product. Below, we’ve listed a few strategies that might work for your subscription service using the Hotmart Members’ Area. Shall we get started?

 

Increase your product’s authority and intelligence

In the case of a subscription product, it’s important that Producers continuously deliver value to their students and, by using the Hotmart Members’ Area, this process becomes less complex. There, it’s possible to configure, organize and schedule the release of content to their customers, setting fixed dates or a period of days that students must wait in order to have access to that specific content. This way, Producers don’t need to release all of their content at once, but can add it, in its entirety, in the Members’ Area, and create a release schedule so that their students can stay informed about the next dates, generating good expectation and increased engagement by their customers. This intelligence and automation allows Producers to spend less time with the operation and more time taking care of what really matters – their product’s content.  

You can learn how to set up content dripping in the Hotmart Members’ Area by clicking here.

 

The possibility of selling more with Club Sales

Do you have a product that isn’t a recurring charge, but are thinking about starting to use the subscription service? You can use the Members’ Area Club Sales to help you sell your product! 

With Club Sales, which is Hotmart’s free advertising solution, you can advertise another one of your products, whether or not it’s a subscription product. You’re also free to promote a product in which you play the role of an affiliate and not necessarily a Producer. In addition, you are also free to determine when your students will see this ad – after completing all lessons, at the beginning or the middle of the course, or at any other time.  

 

It brings your customers even closer

Every subscription Producer values a close contact with their students. After all, they are building content with the purpose of pleasing their subscribers. In order for them to keep seeing value in the product and keep renewing their subscriptions, it’s important that the Producer understand what students think about the course and what they expect to find from then on. 

One of the ways in which the Hotmart Members’ Area brings Producers closer to their students is by enabling the comment box. Comment management provides Producers with the possibility of connecting with their customers and offering them a humanized service while creating a bond between them. Moreover, it’s possible to manage the comments, which provides more agility to daily routines. 

 

Knowing your customers

With Hotmart Ask, in the Members’ Area, you can conduct a satisfaction survey and listen to your students’ opinions directly, without complications. By conducting the survey, you can understand whether the students are enjoying the course, for example, and gather the suggestions for improvements they offer you. 

Click here to read more about the Hotmart Ask tool.

See how many advantages the Hotmart Members’ Area can offer to your products? Just imagine all of these improvements linked to your subscription service. Below, we’re going to talk a little more about the Hotmart subscription service. Keep reading!               

 

Increase your sales by using the Hotmart subscription service

The Hotmart subscription service is another tool that will help you sell your digital product in a strategic manner, making your business even more profitable. With it, you can schedule your billing and process them through the Hotmart payment system, called HotPay.

Below, we’re going to talk about a few advantages of using the subscription service to boost your business.

 

Organization and revenue predictability

With the possibility of choosing between weekly, monthly, bimonthly, quarterly, semiannual, or annual plans, Producers are able to organize themselves in terms of expenses and investments. As long as you keep your subscribers active and paying on time, you’ll be able to predict your financial return every time they pay to renew their subscription. Having control of when money comes in and its amount is essential for investing in improving your customers’ experience.

 

Automatic billing and local payment methods

Hotmart’s payment system provides automatic billing according to the Producer’s settings and if necessary, it’s possible to reprocess a bill that hasn’t been paid. Customers can choose one of the more than ten payment methods provided by Hotmart, here are a few options:

  • Credit card subscriptions. As soon as a bill isn’t approved due to a payment error, Hotmart’s system attempts to reprocess it up to four times and, if this proves unsuccessful, the subscription is tagged with an “Overdue” status. When the product is hosted within the Hotmart Members’ Area, this student’s access is denied after the unsuccessful payment of the bill, and will only be granted access after the system confirms an approved payment (or if the Producer releases it manually). The Producer is also able to make a new manual attempt to collect the payment.
  • Local payment methods: Producers who’d like to sell in a variety of countries can count on local payment methods. It’s a way to offer peace of mind for those buying and, consequently, optimizing your sales potential.  Among the local payments, we offer are: SEPA in the EU, Bacs in the UK, and Cartes Bancaires in France.

Learn more about local payment methods available at Hotmart.

 

Free product trial

A good customer is a satisfied customer, right? Therefore, one of the advantages of subscription services is that you can set up a free product trial period. During this trial period, your students have access to the product during the period you set, and only pay after this time is up, if they reach the conclusion that the product is worthwhile and they are interested in continuing to access it. This strategy gives your customers the chance to try your product for free and demonstrates your confidence in your content. This is a great opportunity to show your customers your product’s advantages and unique features, building their loyalty. 

To learn more about setting up this trial period, click here.

 

Switching subscription plans

Being able to switch subscription plans can be used as a strategy related to the billing frequency (monthly, annual, etc.) and provides you with the opportunity to offer content that is more specific based on each consumer’s needs, as well as the distribution of diverse and quality content. 

You can allow your students to migrate to more affordable or more expensive plans than their current plan, as a retention strategy and adaptation to their current moment. Is a subscriber having financial problems and having trouble keeping up with the payments of your product? Offer them a more affordable plan so that you can retain them. Or, do your customers like your product so much that they are becoming more and more engaged? This might be a good opportunity to offer them a more expansive plan with even more exclusive content. Click here and learn how to set up a product subscription-plan switch.  

 

Metric monitoring and automatic reports

Within the platform, you can set up the periodic sending of reports referring to the results and information about your subscription service. Below, we have the list of report you can receive automatically: 

  • General Sales Report 
  • Subscription Report
  • Smart Installment Plan Report
  • Subscription Renewal Summary
  • Subscription Renewal in Detail
  • New Subscriptions in Detail
  • Subscriptions with card close to expiration
  • Reasons for declined payments

Check here what you can view in each of these reports!

 

Managing recurrences

Producers have the chance to limit how many recurrences they want their subscribers to pay. They can also make it unlimited, so that the subscription will only be canceled what the subscriber wishes to do so. 

 

Advantages of the Hotmart subscription service for customers

If for Producers the advantages are numerous, it is no different for customers. Check out below a few advantages of this type of service for customers.

 

Exclusivity and the possibility of trying the product before buying it

In subscription services, Producers can release a trial period so users can learn more about the service or product. Moreover, subscribing users usually have exclusive access to the product or service, before it’s launched on the market. Isn’t this great? 

 

Simplicity in the purchasing process

Buying online is here to stay and this process has become increasingly dynamic, simple, and fast. Just like users want it. With the use of subscription services, subscribers only make a purchase once, since they can immediately access the product or service to which they have subscribed. Billing is also done automatically or in a very simple manner for users, as is the case with Hotmart’s bank payment slip.

 

Continuous revenue for Producers

Typically, the amount charged for a subscription product is lower than the price of a product charged only once. This makes sense because the Producer’s intention is to build subscriber loyalty so they keep renewing their subscriptions and continue paying more and more in order to access the product. This practice is also seen as being positive for students, because they commit to paying a more affordable price than if they were purchasing a product with a single payment. And they keep paying only if they remain interested in the product’s content. 

This strategy allows Producers to receive, in the long run, a higher amount than they’d receive if they were selling single-payment products, since their revenue would be limited, as long as they keep subscribers interested in maintaining access to their product.

Now that you’ve learned about the advantages of Hotmart’s subscription service, hurry up, set up your product, and sell much more, in a simple and profitable manner.

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