Buy And Sell Subscriptions Through Amazon
Amazon has launched a new ‘Subscribe With Amazon’ service which enables consumers to discover, subscribe and manage a range of digital subscriptions, and enables subscription businesses to reach millions of new customers.
What Is It?
Whereas we are likely to have searched for and purchased all manner of digital subscriptions for products / services e.g. streaming services, apps, fitness classes etc. in many different places around the web, 'Subscribe With Amazon' groups, categorises and organises all manner of digital subscriptions in one place.
This means that these subscriptions can be all be managed via an online dashboard. Examples of subscriptions available through the portal include Disney Story Central, cloud storage service Dropbox Plus and Fitbit’s personal training platform.
As you may expect, Amazon is unlikely to be featuring subscriptions to competitors’ products / services, such as Netflix or Spotify.
The Benefits For Consumers
Clearly, this will make shopping for (and managing) subscriptions much easier and more convenient for consumers. As well as making the selection of subscriptions easier, it may also mean a reduced risk of a break in / lapsing of subscriptions that have been enjoyed. This is because Amazon requires an updated payment method i.e. a valid / non-expired card.
The Benefits For Businesses
Those offering digital subscriptions can enjoy the benefits of increased customer numbers, increased revenues and greater brand awareness by being able to reach millions of new customers through being as a supplier on Subscribe With Amazon.
There are also the benefits of the convenience and ease of being able to use Amazon offers self-service tools e.g. for pricing management, and for receiving orders and updates (through Amazon’s APIs).
Businesses are also able to offer a variety of pricing plans to customers e.g. introductory, monthly annually, and possible Prime member exclusive discounts.
It is, of course, also beneficial to businesses that Amazon’s requirement of an updated payment method is in place, as customers are more likely to keep up unbroken payment of the service for longer.
Some businesses may also benefit from the cross-promotion that can take place by tying subscriptions to physical products.
With everything arranged so conveniently for customers in one place however, this may also mean that it makes it easier for customers to switch. This could potentially be a threat for digital subscription providers.
What Does This Mean For Your Business?
If your business sells subscriptions and if you choose to sign-up to and sell through Amazon, this could represent a great opportunity to increase your customer base and revenue in an easy to manage way. It may also mean more pressures of competition for subscription services providers.
For business users of digital subscriptions, like the recently introduced ‘Amazon Business’ service, it provides an easy way to choose and manage suppliers.