To build a sustainable business, focusing on customer retention is no longer optional; it has become essential. One of the most effective ways to keep customers engaged for the long term is by offering subscription-based services. Subscription models not only provide convenience for customers but also generate consistent revenue and foster brand loyalty.
If you are running a WordPress site and using Elementor, Better Payment can be an ideal choice. This Elementor payment plugin now offers powerful subscription management features to help you streamline recurring payments and retain customers effortlessly. Have you not explored it yet? Let us take a closer look at how Better Payment can help you set up and manage subscriptions with ease.
How Do Subscription Models Improve Loyalty & Increase Customer Retention?
The subscription model is a billing method in which customers are automatically charged at regular intervals for a product or service they have subscribed to. In place of making a one-time purchase, customers subscribe to access a product or service continuously and payments are automatically collected on a set schedule. Common examples are monthly deliveries for food, beauty, books, Netflix, Canva Pro, etc.
One of the most effective ways to establish enduring relationships with your clients is through subscription models. Subscriptions establish regular touchpoints rather than relying on one-time purchases, which promotes continued engagement and brand trust. Customers are more likely to stick with you if you offer them a recurring plan, especially if you consistently provide convenience and value.
Additionally, by improving the customer experience through personalization, predictability and ease, this model lowers churn. Plus, businesses benefit from predictable revenue and deeper customer insights, making it easier to craft retention strategies that actually work. To create depth, here are the stats to follow:
🎯Over 70% of business leaders say subscription models are key to improving customer relationships.
🎯The average subscription eCommerce customer has a 60–70% chance of returning, compared to just 20–40% for one-time customers.
🎯 Subscription-based businesses grow revenues 5–8x faster than traditional businesses.
Meet Better Payment: Your Subscription Management Solution for Elementor
Better Payment has established a solid reputation for collecting payments via websites created with Elementor. With this single plugin, you can create outstanding payment forms to collect donations, WooCommerce payments, one-click payments, fundraising campaigns and so on. With Paypal, Stripe or Paystack, you can integrate your preferred payment gateway and give your clients a smooth transaction experience.
What makes Better Payment unique is offering subscription management services. This plugin allows you to demonstrate the adaptability of recurring payments. Regardless of whether you are selling WooCommerce goods, food or services, you can quickly convert the payment form to a subscription model.
Moreover, you can design subscription user dashboards for customers and provide each one with a customized dashboard to streamline your subscription service. In most cases, using other solutions requires manually retrieving data from Stripe, Paystack or Paypal before displaying it to users or obtaining more expensive payment options. Better Payment is the best plugin for managing basic subscription services.
How to Set up and Manage Subscriptions with Better Payment?
The Better Payment subscription feature is a good choice if your primary concern is customer retention. Let us check out how easy it is to configure subscriptions or recurring payments using Better Payment.
Step 1: Enable Subscriptions In Payment Form
First, install and activate the Better Payment plugin on your website. From the plugin dashboard, configure your chosen payment gateway: Paypal, Stripe, Paystack or all. Now, let us head over to designing the subscription payment form.
Create a page in Elementor. Then search for a Better Payment widget and drag and drop it into the page. A form will appear instantly. You will find an option to ‘Enable Stripe’ under the ‘Payment Settings’ drop-down menu; toggle it to enable the Stripe payment. Before you enable this button, you must retrieve the Stripe Keys and add them in the Better Payment dashboard, as mentioned earlier.
Step 2: Collect Price ID and Webhook Endpoint from Stripe
All Subscription-related functionalities are incorporated in Form layout 4. So, from the ‘Form Layout’ dropdown, select ‘Layout 4| General’. Choose the payment type as ‘Recurring.’ Two new fields will appear: There, you will find fields like ‘Price ID’ and ‘Webhook secret’ under the payment type. Collect your Price ID and Webhook secret and put them in the form.
To retrieve the Price ID from Stripe, start by logging in to your Stripe account. From the left sidebar on the dashboard, click on ‘More’ and then select ‘Product Catalogue’. To create a new product, click the ‘+ Add Product’ button in the top-right corner. A form will appear where you need to fill in your product details.
Enter the product name (this is required), add a description and an image if you like and ensure the ‘Recurring’ payment option is selected. Then, set the amount for your product and choose the billing period, such as weekly, monthly or yearly.
Once you have entered all the necessary information, click on ‘Add Product’ to save it. After the product is added, click on it to open the details page. In the Pricing section, you will find the API ID—this is the Price ID you’ll need to use with the Better Payment plugin for managing subscriptions. Click the copy icon next to the ID to retrieve it easily.
To add a Webhook endpoint, go to Developers → Webhook tab. Click on it to retrieve the endpoint. There you will find the ‘+Endpoint’ button. Click on it to create a new one. On the next page, you will need to fill out the fields. In Endpoint URL, add your webpage URL.
Go back to the website, open the page with the subscription payment form and under the Webhook Secret field, you will find the Endpoint URL. Copy it from there.
To select events, follow this documentation and add them accordingly. After that, from the Webhook log, click on the ‘Reveal’ button from the Signing Secret section. There you have it, your Subscription forms Webhook endpoint secret. Copy it from here.
Step 3: Configure the Recurring Payment Functionalities
After collecting all the important data, go back to your WordPress website and open that Better payment form. In the respective fields, add the Price ID and Webhook Secret. That is it. Now you are all set to proceed. After setting up the subscriptions according to the steps, you can easily take payments from your customers.
With these 3 simple steps, you can configure subscriptions into your payment form and start managing it smoothly. Here is the video tutorial to see the subscription setup in action:
💡Bonus: Configure Split Payment to Boost Retention with Better Payment
Better Payment not only offers the easiest way to set up subscriptions into payment forms but also gives the flexibility to enable split payments. Split payments combined with recurring billing make expensive goods and services more accessible and affordable, which increases the number of people who sign up. Additionally, it increases conversion rates, decreases payment friction and raises customer satisfaction.
If you want to integrate split payment with your recurring payment form, then you need to retrieve two price ID’s. The first one is the default price ID and the second one is for the Split Payment Installations’ Price ID. Log in to your Stripe account, follow this documentation and collect all IDs.
From the editor, select ‘Payment Type’ as ‘Split Payment’. In the Price ID section, add the default price ID you copied earlier from Stripe. Inside the Installments section, choose the installment period you want as the Split Payment option and add the split price ID we created in Stripe and copied. Now, click on the ‘Publish’ button.
This is how Better Payment allows you to enable split payment via Stripe to divide subscription fees among multiple installments. You can use this to share revenue, allocate costs, provide payment flexibility and manage your financial management.
Skyrocket Customer Retention with Seamless Recurring Payments
Recurring payments make it easier than ever to keep customers in today’s cutthroat market, where keeping them is just as crucial as gaining them. You can reduce friction and foster enduring loyalty by providing split payment options, automated billing and flexible subscription plans. With tools like the Better Payment plugin, managing subscriptions becomes effortless. Also, it allows you to focus on what matters most: growing your business and keeping your customers coming back.
Ready to boost retention? Start offering seamless subscription payments today with Better Payments. Also, do not forget to subscribe to us and keep learning insightful tips and tricks.
