Boost LTV with Subscription Upgrades! 📈
New
Introducing Subscription Upgrades! 🚀
We’re excited to launch Subscription Upgrades, the latest addition to your subscription business toolkit. Instead of locking customers into rigid subscription plans, you now have the flexibility to let them upgrade to longer cadences or larger packs. This puts customers in control, making them feel valued while driving more revenue for your store!
Why Subscription Upgrades Matter
- Higher Engagement, Higher Revenue: By offering customers personalized upgrade options - like switching from monthly packs to quarterly packs - you increase their loyalty with your brand and, ultimately, their Lifetime Value (LTV) and Average Order Value (AOV).
- Multiple Upgrade Profiles for Increased Flexibility: Customers have the freedom to choose their preferred frequency, be it quarterly or bi-annual and their preferred pack sizes. More flexibility means happier customers who stick around longer.
- Valuable Insights into Customer Behavior: Evaluate which upgrade options resonate the most with your customers—are they drawn to longer cadences or larger packs? These insights help you refine future offers and better understand what keeps your customers engaged.
How to Set Up Upgrades
Setting up Subscription Upgrades is easy! Here’s how you can start offering personalized upgrade options today:
Steps to Set Up Upgrades:
- Navigate to Loop Admin: Go to Upsell > Customer Portal > Upgrade Profiles.
- Create Upgrade Profiles: Choose between two types:
- SKU Upgrade + Frequency Change
- SKU Upgrade Only
- Customize the Experience:
- Set discounts and messaging for each upgrade option.
- Add short descriptions for your upgrade offers.
- Prioritize which upgrades to display first.
- Enable Immediate Charges (Optional): Decide whether you want to charge customers immediately after they upgrade from the preferences tab.
That’s it! Once enabled, eligible customers will see personalized upgrade options directly in their subscriber portal.
You can track performance using built-in analytics to monitor views, clicks, conversions, and dismissals.
Give your customers a reason to stay longer, spend more, and love your brand even more. Get started with Subscription Upgrades today! 🚀
Need Help?
If you have questions or need assistance setting up Subscription Upgrades, our support team is here for you. Reach out at support@loopwork.co or connect with your dedicated success manager today!