Create a product: Video Streaming Services Subscription

Owned by Dev Team, created
Last updated: Feb 18, 2022 by Igor Krasnykh
3 min read

This tutorial is geared for a merchant who is selling services and where customers are subscribing for various levels of memberships and subscription periods

In this example let's imagine a basic scenario of a video streaming service provider who is selling subscriptions to customers. We will be setting up three plans: Basic $4.99/mo ($49.99/year), Standart $7.49/mo ($74.99/year), and Premium $9.99/mo ($99.99/year)

 

Step-by-step guide:

One simple way to get this setup would be to create three different virtual products for three plans accordingly

  1. Creating "Basic Plan" product

  • Product Name: Basic Plan

  • SKU: BP1

  • Price: $4.99 (original price)

  • Click on the Advanced Inventory link

    1. Change Manage Stock to "No"

    2. Click Done

  • At this point our basic product setup is complete

2. Setup Billing Frequency (how to set up a billing frequency)

  • Navigate to MPOWER - Configuration – Billing Frequency

  • Add new billing frequency (monthly and annual)

3. Open previously created product. Scroll down to the Subscription Options section and open it

  • Scroll down to the Subscription Options section and open it

  • Available For: Recurring Purchase Only

  • Click on the ‘Manage’ button for opening Recurring Options Management

  • Is Trial Offered (step1): Off (we kept this off for this basic demonstration)

  • Start Date(step1): Last Day of the Current Month (since we want to bill people at the end of the month)

  • Lock Product Price(step1): Off (will allow us to set a custom price for each billing frequency)

  • Unlock Preset Qty(step1): Off 

  • Billing Frequencies (Step2): Click on Add New button twice and select correspond Billing Frequency (monthly and annual)

  • Billing Frequencies (Step2): Set the price $4.99 for a month and $49.99 for a year

  • Click Next and Save

  • At this point, the basic configuration of a subscription is complete

 

4. Creating "Standart plan” and “Premium plan” products

  • Repeat the same steps above the only two differences will be

a. different product name, SKU

b. different prices for Monthly and Annual billing frequency. Instead of 4.99, you will type for Standart $7.49/mo ($74.99/year) and for Premium $9.99/mo ($99.99/year) accordingly

 

Result: