In 2019, more than 50% of ecommerce sales were made through online marketplaces globally.* The acceleration of digital commerce, particularly in recent months due to the pandemic’s impact, has compelled providers of B2C and B2B marketplaces to explore options for increasing revenue and deepening customer relationships. Many are looking at the popularity of subscriptions and seeking to incorporate recurring revenue products and services into their marketplaces. Similarly, many consumers and enterprises are looking for a one-stop shop to better manage the consumption of their recurring digital services.
However, ecommerce platforms were created with one-time transactions in mind. When marketplace providers offer subscription-based products, they must plan for the changes that occur throughout the customer lifecycle, including provisioning, usage-based and recurring billing, upgrades/downgrades and cancellations.
Watch our on-demand webinar on the critical success factors for successfully introducing subscription monetization models into online marketplaces. During the webinar you will learn:
- Why adding subscription services requires a different way of thinking
- What to consider when offering multi-partner product bundles
- How to introduce new subscription monetization models
- Ways to coordinate management of partner product offerings
*Source: https://www.webretailer.com/b/online-marketplaces/#What_is_an_online_marketplace