Subscription-based models in eCommerce have exploded in recent years, which has been great for businesses in that they generate customer loyalty and create an ongoing revenue stream.
However, some eCommerce businesses are struggling to create the subscription model that works for their products and customers, meaning the customers can at times be missing out on getting exactly what they want when using a subscription, with many ending up with either more products than they actually need or running out too early.
Jess Wright and Jamie Turner co-founded SaaS platform Subundl to address this issue, with the goal of enabling all retailers the ability to create a tailored eCommerce subscriptions model and give customers the ability to construct personalised subscriptions by adding another layer of flexibility and customisation.
Giving retailers and customers full control, driving acquisitions, retention, customer lifetime value and loyalty for retailers.
“Subundl is a SaaS platform that empowers eCommerce businesses to create and manage a tailored subscription model unique to their business,” Wright said.
“It enables their customers to construct personalised subscriptions with the products and services they want, as frequently as they need, with the option to pay on their preferred frequency. All in one customised subscription.”
Wright believes that businesses need to look to find new ways to improve customer experience and that’s what Subundl is trying to do.
“80% of consumers now demand a personalised experience. 63% will stop buying from a retailer with poor personalisation,” she said.
“Consumers are all different; there isn’t an average consumer. We all like different products and use them at various rates. The one size fits all approach does not work in eCommerce; it was built for SaaS products with set plans and frequencies.
“From the consumer’s perspective, we’ve all been annoyed by running out of products we want or it not turning up in time or ending up with a mountain of it in our home – I currently have more than a year’s supply of dishwasher tablets.
“Subundl fixes all this. Retailers can offer their customers complete control over the products and services they want, how often they receive them, with the option to pay at the frequency they prefer. All in one customised subscription.
“So, consumers never run out of a product, are forced to buy a bundle of products with items they don’t need or have a cupboard full of surplus of products we subscribe to.”
Wright says there are also issues from the retailer’s perspective when trying to customise an eCommerce subscription.
“For a retailer to create a tailored subscription model that allows consumers to have personalised subscriptions it requires an expensive in-house build or use of an agency.
“This also means the retailer commits resources to infrastructure rather than their core products.”
After speaking with eCommerce businesses all around the world, Wright said 90% immediately looked to join the waitlist in what was a tick of approval for the company. The challenge for the team is to now continue to roll out the MVP, however, the feedback has so far helped springboard the platform into raising the next rounds of funding.
The co-founders via the Antler platform, with which Wright say made the company building process considerably de-risked, as well giving the team the confidence to take their new product to market after the VC backed the business at the pre-Seed stage.
“Antler’s investment gives us the runway to build our MVP, demonstrate product-market fit and build evidence of the value it delivers to our customers to de-risk the investment for future investors,” Wright said.
“Antler’s backing is a tick of approval to the market as they have invested over five months doing extensive due diligence and research before making their investment decision. So, it’s a massive vote of confidence to have their backing in us as a team, our mission and our vision.”
Looking forward Wright hopes Subundl will be a leader in the field helping both customers and retailers.
“A tailored subscription model and personalised consumer experience have been proven to work to the market with the likes of Pet Circle, Marley Spoon & Hello Fresh,” she said.
“We want to provide the infrastructure that enables all retailers to have the same success with a tailored subscription; driving growth, retention and happy, loyal customers.
“We look to be a leading provider of subscription management in eCommerce and drive the growth for retailers and make consumers experience personalised, enjoyable and more convenient with the complete end to end customer experience and control Subundl provides.”
- Startup Daily is the official media partner of Antler in Australia.