Meetanshi Announces the Subscription Model for Magento Extensions
Meetanshi has introduced a subscription based business model for Magento extensions with effect from February 01, 2022, meaning that all products within new orders will now available by subscription only, replacing the old “one-time-payment” model.
Magento Market is Ready to Introduce Product Subscriptions
Magento market is changing.
To fulfill the customers’ demands for the best support service and quality products, the industry is switching to a subscription-based model for Magento extensions.
And we, along with the leading Magento extension providers, including official Magento Marketplace, Amasty, Mageplaza, Aheadworx, Mirasvit, and Mageworx, following E-commerce market best practices, are now ready to make a joint effort and rethink our approach to ensure continuous value delivery to our customers.
How Does Our Subscription Model Work:
- The annual product subscription includes the SUPPORT SERVICE and UPGRADES along with the Magento extension package
- Orders placed before February 1, 2022 will get FREE 1-year access to the updates of our products till January 31, 2023.
- At any point in time, if you decide to cancel the subscription, you still have access to the code base of the extension package.
- The customers will not receive updated packages and support services if they cancel the subscription to our products.
Subscription-Based Model for Early Orders
There is a piece of good news for the customers that have purchased Meetanshi’s products before February 1, 2022. Such orders will be considered as Early Orders, and they will get a 10% benefit on subscription renewals of the products purchased before the said date.
The subscription renewal cost for such orders will remain 50%, instead of 60%, of the price of the product, provided that they are renewing the subscription within the grace period. Also, they will get free upgrades by January 31, 2023. However, such orders will only get free support for 1 year from purchase.
To explain this more clearly, I have provided an example in the table below. You can refer to this table for more understanding.
|Total Price of Extension / Service (for e.g.)||$100.00|
|Date of Purchase (for early orders)||Before February 1, 2022|
|Free Upgrade||Till January 31, 2023|
|Free Support Service||Till 1 year from purchase|
|Subscription Renewal Date||February 1, 2023|
|Last Date to Renew (15 days grace period)||February 15, 2023|
|Subscription Renewal Cost||$50.00 (50%)|
|Subscription Renewal Cost After the Grace Period||$80.00 (80%)|
Thus, the early orders will get flat benefit of 10% of the price every year on their subscription renewals.
However, once the customers miss renewing their order subscription within the grace period, they will have to pay 80% of the product price to re-enter the subscription cycle. They will be further considered as regular orders.
Subscription-Based Model for Regular Orders
Provided below is the table explaining how the subscription model will work for the orders placed on or after February 1, 2022. The subscription renewal charges for such orders will remain 60% of the price of the product.
The customers need to renew their subscriptions every year after the date of purchase or previous renewal. Also, a penalty-less grace period of 15 days will be provided to the customers to renew their order subscription.
|Total Price of Extension / Service (For Example)||$100.00|
|Date of Purchase (Regular Customers)||On or after February 1, 2022|
|Subscription Renewal Date||1 year after the extension purchase date|
|Grace Period||15 days from the subscription renewal date|
|Subscription Renewal Cost||$60.00 (60%)|
|Subscription Renewal Cost After the Grace Period||$80.00 (80%)|
|Free Support & Upgrade Service||Until the expiry of the active subscription|
However, if customers fail to renew their order subscription before the end of the grace period, they will have to pay 80% of the product price to re-enter the subscription cycle. The customers can continue their subscription renewals at the cost of 60% of the product price after that.
How Do Our Customers Benefit from Subscription-Based Business Model:
- Better product quality with continuous investment in development, QA, and compatibility assurance.
- The customers will now get more frequent product upgrades by implementing the market research study, latest approaches, and user experience practices.
- Warranties for the stability of service and full coverage with integrated updates and support package.
- Lifetime access to the original code base.
- Availability of all Magento versions and inter-product compatibilities.
- Availability of all new features delivered within the product line.
- And full support coverage for the product during the entire subscription period.
Over the last few years, there’s been a transformational change that’s happening throughout the economy. An ever-increasing number of global B2C and B2B companies are switching to the subscription-based business model.
E-commerce platforms like WooCommerce, Shopify, and Shopware have already adapted to the subscription model, making access to the software and updates an option of their clients’ choice.
The subscription model has made it possible for the vendors to provide end-users with everlasting integration of new features and crucial updates to the existing products.
This reformation in the business model has not only transformed B2B companies but has also marked its benefits for customers and businesses, hence a win-win situation!
What do you think about this news? Do share your thoughts in the Comments section below.
Also, stay tuned for more details about subscription plans and pricing structure.
What do you think about the subscription business model for Magento extensions? We appreciate your valuable feedback on this switch. Please take 2 minutes’ time out of your schedule to fill this Survey Form.
Who are the Early Orders?
The orders that were placed before the introduction of the subscription-based model, i.e. before February 1, 2022, will be considered as Early Orders by Meetanshi. They will receive 10% benefit on every renewals, provided that they are renewing their subscriptions before the ending of the grace period.
How will I benefit from the product subscription business model?
With subscriptions for Magento 2 extensions, you will now get:
- Better product quality
- Regular feature updates
- Free support included
- Compatibility with latest Magento version
- Lifetime access to original extension codebase
What will happen with all orders placed before Feb 01, 2022?
Our existing customers get the added benefit of updates till Feb 01, 2023. Such orders will get 1-year free support from the date of purchase. Such orders will also get 10% benefit in the subscription renewal cost.
Do I have options to cancel my subscription?
Yes, you can cancel your subscription any time you wish. You won’t be charged further and will lose access to extension updates and support services. However, you can still use the extension package in your online store.
Is there be any other pricing option apart from subscription?
No, the annual product subscription model is our only pricing method now. The one-time payment method is no longer be available.
How do I know the further details about the subscription model?
Please contact us if you want to talk anything about product subscriptions.