The recurring billing model and its associated subscription payments have gained massive popularity with many business types, including online gaming. As you chart the forward course of your e-gaming business, you may be wondering if setting up this arrangement for your customers makes sense for your company. 

After you learn about the many advantages that subscriptions can bring to your gaming spot, the answer may be clear.

Game subscription types.

Subscription plans fall into a number of distinct categories. 

These include a traditional arrangement of giving access to a game and all of its features, one that makes it possible to take traditional gaming online. Under this model, there are often packages granting access to several games from different publishers, for a single fee.

When online gaming was in its infancy, creative sites wishing to gain additional revenue started to offer customers ongoing access to their game of choice. This included being able to take advantage of every feature available for a single recurring cost. 

This was especially popular for multiplayer games.

When console-based games burst onto the online scene, enterprising sellers jumped on the trend with a new subscription type. This arrangement gave players within ecosystems such as Xbox and PlayStation a way to take advantage of the full set of features included in these platforms, including the ability to interact in real-time with other players online.

Recently, Apple Arcade, Microsoft Game Pass, and other services began giving customers the ability to pay a single recurring fee to be able to play games from several publishers. This is analogous to similar television-based subscription models on sites such as Hulu and Netflix.

The benefits of offering subscriptions on your gaming site.

Expanding your services to encompass subscriptions is a win-win for you and your customers. It grants predictable income, helps to boost customer loyalty, contributes to the expansion of your customer base, enriches the player experience, is convenient to use, and increases profits from in-game purchases.

There are several compelling motivators that have enticed online gaming site owners to speak to their payment processing for gaming merchants providers about onboarding subscriptions into their business models. 

For one thing, you gain predictability that you never see with the in-game ads and purchases that are frequently found with free games. When subscribers pay a consistent fee each month or on an annual basis, merchants gain the peace of mind that comes with a uniform, foreseeable income stream.

Once you have a clear idea of how much revenue is flowing into your coffers, you are in a much better position to grow with players’ evolving demands. This helps to optimize the customer experience, especially if you sell tiered subscriptions with various price points for different levels of service or for ad-free gaming.

Additionally, subscriptions are instrumental in fostering a deeper, more permanent relationship with your customers. After all, people agree to invest in your games not just for a day or two but for a month, year or longer. 

This longevity gives you numerous opportunities to further engage with these customers to offer bonuses, discounts, and exclusive perks and rewards that make membership feel special and sought-after.

Particularly if you are offering your players access to games from multiple publishers for a single price, you can benefit from the presence of several core player groups, each of whom comes to you with a love of a particular game. 

Appealing advertising on your part can encourage these customers to branch out to other games, creating fresh interest.

What’s more, subscriptions make it possible for everyone to play without needing to make a significant purchase of hardware or software. These days, there is no need to own a copy of a piece of content when it is available 24/7 via subscription on your platform.

The subscription model is familiar to customers. Most people have no difficulty placing their trust in a structure that is already quite familiar in all sorts of applications throughout their purchasing lives, from gym memberships to recurring utility billing.

Finally, you can give players the chance to become subscribers without forcing them to do so. Those who prefer to continue with a free-to-play, ad-included style can do so as you simultaneously offer recurring plans to people who prefer that model.

Getting set up with subscriptions.

Expanding the scope and style of your services requires that you partner with the right payment processing for gaming merchants provider. The best company should make security a priority, comply with regulations and industry standards, be affordably priced and transparent, and furnish reliable, multi-channel customer support.

Finding a payment provider who will be your expert partner is perhaps the most important step you can take before you launch your online gaming subscription services. 

Because of the nature of your industry, you are automatically deemed to be a high-risk business, which means that you can expect to pay higher per-transaction fees and be subject to additional charges and requirements.

Nevertheless, the right high-risk payment services provider will be an invaluable ally, helping you to navigate the complex regulatory and security landscape that exists in the gaming industry. 

Therefore, make it a point to select a company that focuses on keeping client payment transactions secure, with demonstrated expertise in complying with industry regulations and requirements.

Another vital consideration has to do with transparency. Although costs will be elevated because of your high-risk status, these fees should not break the bank. Furthermore, transparency should be the word of the day, with no hidden fees or confusing contractual obligations.

Finally, your provider should be available day or night to assist you in the event of a security breach or technical difficulty. Every second of downtime means that you lose money and inconvenience your customers. 

Having a responsive support team available to troubleshoot and assist you in resolving issues quickly and thoroughly is vital if you are to succeed in this highly competitive industry. Fail, and your customers will simply defect to one of your rivals.

Online gaming represents a golden opportunity for you to give a broad range of customers the entertainment options they are demanding. Augment these with the predictability, flexibility, convenience, and versatility of subscriptions, and it will be a win-win for you and your players.