You have a great product with great marketing and PR. You also have decided to add a subscription model to your offerings, so that you can have an ongoing revenue stream from your customers. But beware … if you don’t avoid these three errors at fulfillment, you and your company will suffer:
It pays to consider (and reconsider) all options. We live in a day and age, where today’s “King of the Hill” can become tomorrow’s old news.
Markets are disrupted at a pace never seen before. Disruptions used to be slow, because getting capital for unproven concepts required capital that was hard to find outside of banks or venture capital firms.
Today crowdfunding platforms like indigogo.com have changed how and at what pace new concepts can be taken to market. The new rule is: “innovate or die.”
There’s no doubt that if you sell a consumable product like razors or diapers that there’s a lot of money to be made by offering those products as an ongoing subscription. Customers agree to pay dollarshaveclub.com or diapers.com on a schedule and have their credit cards charged, and their products delivered, on a schedule. These make sense right away.
But there are other ways to leverage the power of a recurring billing model. Here are 3 options worth investigating:
Being competitive is about taking action. Research will only get you so far. That’s why today’s post is short.
Instead of reading tons of content, DO SOMETHING … right now.
If your company already sells recurring products or services, or is considering it, one thing to be comfortable with is change. Markets … regulations … technologies change. You must too.
The winds of change are working their magic across the consumer and corporate marketplaces. The digital economy is growing exponentially, and with it, the popularity of the subscription-based business model.
As companies and the industries they function in mature, the adoption of innovations in pricing and packaging become increasingly necessary. With it, comes the opportunity to build value in customer relationships. Without it, one’s company risks being lost in an increasingly-crowded marketplace.
Continue reading “The Subscription Revolution: What You Need to Know”
Make no mistake. The move to the subscription economy is in full swing. The traditional single transaction-based product purchase model is being replaced by a subscription-driven relationship-based model. This new paradigm puts the customer and their relationship with your company as the highest priority.