Setting up subscription products on TWICE involves defining the subscription period and the recurring fee. This setup allows you to offer products on a continuous basis, ensuring steady revenue flow and customer engagement.
Creating Subscription Prices
From your Catalog, open the product you want to edit.
Click on the Pricing tab and then click on the Subscriptions tab.
Turn on the Subscriptions toggle to make this product a subscription product.
Define Subscription Terms: In the terms section, specify the length of the subscription (commitment period) and the frequency of charges (payment cycles). Currently, payment cycles are preset to monthly.
Set Auto-Renewal Options: Choose whether the subscription will end after the commitment period by selecting None, or if it will automatically renew each month by selecting Monthly.
Establish Pricing: In the pricing section, input the monthly fee for each commitment period. The system will automatically calculate the total revenue for each period.
Commitment Period
Explanation: The commitment period is the minimum duration a customer commits to when subscribing. For instance, a one-year commitment means monthly charges for one year.
Payment Card Policy: Customers cannot remove their payment card during the commitment period. If a card expires, the customer will receive an automated notification to update their payment information to continue their subscription.
Editing Subscription Prices
Adjust Pricing: To change the price of a subscription, update the figures in the pricing table. New prices will apply to all future payment cycles.
Legacy Pricing: If the price is changed after a customer has subscribed, the original price at the time of subscription remains in effect for them. There will be no retroactive charges for the price difference.