Amidst rapid digitalization and transformation, businesses are continuously evolving their business models to meet the demands of the audience while staying ahead of the competition. A subscription-based business model, also known as the recurring revenue model, has proven beneficial for both businesses and customers. Almost every company is now offering some sort of … [Read more...]
Winning a customer in the subscription business is only the beginning as customer loyalty is key to success. Keeping customers satisfied with products and services is important for businesses to establish a stream of recurring revenue. Customer churn, however, can have a negative effect on this monthly recurring revenue. To minimize the impact of customer churn, it's essential … [Read more...]
Are you a subscription-business owner? If so, then you’re likely familiar with one of the major subscription business challenges – the inability to scale. Subscription businesses are here to stay. As per a recent study by Gartner(1), all new software entrants and 80% of historical vendors are offering subscription-based business models. Setting up a subscription business – is … [Read more...]
You have started a subscription business because you want to meet your ideal customer needs and make money doing it. To be successful, you need to provide two things: high-quality products or services and an affordable price. It will keep them coming back for more. To determine your optimal subscription pricing strategy, you need to assess both the industry and the … [Read more...]
The subscription economy is growing at an unprecedented rate. As per reports, the subscription economy has grown more than 435%* in the last 9 years – which translates to nearly 6x growth in less than a decade. Amazing, isn’t it? With the growing demand for subscriptions and the businesses performing at their peak levels, the trend for subscription services does not seem … [Read more...]
