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Upsell and Renew your Subscriptions in Odoo 16

Upselling and renewing subscriptions are crucial strategies for businesses that offer subscription-based products or services. These strategies help maximize revenue, retain customers, and foster long-term relationships. Here’s how you can effectively upsell and renew subscriptions:

Provide value-driven upsells:

=> Offer upgrades or additional features that align with the customer’s needs and usage.

=> Highlight the benefits of the upsell, such as improved functionality, increased convenience, or cost savings.

While upselling subscriptions, customers can opt for a higher version of your services by availing discounts or offers to increase customer loyalty.

Timing is crucial:

=> Send renewal reminders in advance, so customers have time to consider their options.

=> Consider offering incentives, such as discounts or extended trial periods, to encourage early renewals

Offer multiple subscription options:

=> Provide different subscription tiers to cater to a variety of customer budgets and needs.

=> Use tiered pricing to encourage customers to move up to a higher-value subscription.

Streamline the process:

=> Make it easy for customers to renew their subscriptions online, preferably with just a few clicks.

=> Ensure that the renewal process is user-friendly and doesn’t involve unnecessary steps.

Reward loyalty:

=> Offer loyalty programs or discounts for long-term subscribers to incentivize renewals. – Recognize and appreciate your loyal customers with exclusive benefits.

=> To Manage Subscriptions in Odoo, Go to ‘Subscriptions Application’.

Creating a new Subscription to Renew

Go to the ‘Subscriptions Menu’ and select the ‘Subscriptions to Renew’ option to renew an existing subscription of a customer.

Let’s create a new Subscription to be renewed by clicking the ‘New’ button. The already existing subscriptions can also be renewed from the menu.

We can add details such as the customer who took the subscription, the Expiration date, Recurrences such as weekly, monthly, or yearly, Referrer, Invoice Address, and Delivery address, and can also add the product that is subject to the subscription. You can also see the Coupon Code and Promotions button to avail offers and rewards for your customers easily. Click on Coupon Code to enter the code with which the offer can be redeemed by the customer.

There are various tabs other than Order Lines such as the Optional Products tab, the Other Info tab, and the Notes section. We can add other products to be recommended for subscription in the Optional Products tab. If you want to enter any additional information related to that subscription, type the information in the Notes tab.

The Other Info tab provides additional details such as Salesperson, Sales Team, Fiscal position, Analytic account, whether the subscription is confirmed through the signature of the customer or the payment from the customer, Customer reference, start date, Shipping policy, Delivery date and so on.

Thus, the subscription to renew is created. We can either directly confirm the subscription or send the quotation through email.

Here, the quotation for the renewal of the subscription is sent to the customer through email.  Now, the status of the quotation is changed to Quotation Sent. On confirming the quotation by clicking on the Confirm button, a Sales Order is created. Click on Create Invoice Button to create an invoice for the quotation.

We can view the Invoice created by selecting the Create and View Invoice option.

The above part of the quotation shows the delivery orders created and the view of the quotation in the customer’s portal when you click on the Customer Preview.

To Renew an Existing Subscription

Renewing a subscription ensures that customers continue to have access to the products or services they have come to rely on. This is especially important for software, streaming services, and other subscription-based platforms. In some cases, subscribing for a longer period or renewing a subscription can result in cost savings. Many businesses offer discounts or reduced rates for longer-term commitments.

Go to the Subscriptions dashboard to select the created and confirmed subscription that you want to renew. Click on the Renew option in the Subscription form for renewal. You will see that the tag at the top right corner is changed from ‘Recurring’ to ‘Renewal’.

Upselling Subscription in Odoo 16

Upselling may offer customers access to additional features, services, or content that can enhance their overall experience with the subscription. Renewal periods are an excellent time to offer upsells or upgrades to customers. Businesses can leverage the renewal process to increase the value of the subscription for the customer and the revenue for the company. Upselling generates additional revenue for businesses, which can be essential for growth, investment in new features, and improved customer support.

For Upselling, click on the ‘Upsell’ option in the subscription form next to the Renew button.

We can also create a new Upsell opportunity or view all the existing upsells by going to the Upsells option in the Subscriptions menu.

We can see that the tag displayed on the top right corner of the form is Upsell. You can add more products, change the quantities of products, or give discounts for upselling by editing the subscription.

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