Is your company starting, growing or reinventing?

The subscription economy can boost your company. The Subscription Economy has four drivers: Technology, Customer Demand, Sustainable Revenue creation and simplifying sales processes. If one of these drivers is applicable to your organization the main question is how to approach the launch of your first subscription offer.

Of course, different organizations have different stages and you need to understand what kind of stage your organization is in.  We define three types of subscription maturity levels who all come with their specific needs.

How to set the right price for your subscription package?

The pricing of your subscription packages will always be a puzzle, especially as you have to forget the old ways of pricing. It is important not to overcomplicate your offer while taking care to design your services around what customers are willing to spend.

When new initiatives arise from technical product advances, talk to your customers and ask them what they are prepared to pay for the new value you are adding. All too often, companies remain in a kind of trial phase in which they give away new services or initiatives almost for free. They justify this by saying they are giving the customer more value. However, when you start with this approach it is hard to roll-out real price plans and to convert your customers because they come to ‘expect’ this service to be included.

So, you need to perform A/B testing to find out what your customers are willing to pay. And you need to be focused on your ultimate objective of ensuring that a decent part of your revenue becomes recurring.

Constantly demonstrating to your customers that you offer value for money is crucial because you will always be faced with the prospect of churn. As such, the key question is always: From which areas of activity or responsibility can I unburden my customers and are they willing to pay for that?

  Would you like to know more and discover the potential within your business?
  Feel free to contact Timo Zuidgeest info@subscriptionfactory.com

The Subscription Economy is here. Where are you?

Subscriptions have always been a powerful business model. But until recently they were largely restricted to publishers selling printed content, or to phone companies selling access to mobile services.

All that is changing.

New technologies and evolving consumer behaviors and expectations are making it possible to apply the subscription model to more and more products and services in both the B2B and B2C spaces.

This is evidenced by studies showing that the Subscription Economy has grown by more than 350 percent in recent years. The Subscription Economy is expanding across almost every industry. And it is here to stay.

What is powering the Subscription Economy?

Subscription Factory has identified four key drivers powering the growth of the Subscription Economy: Sustainable Revenue Creation, Technology, Customer Demand and Simplifying Sales Processes.

There is a good chance that one of these Subscription Economy drivers applies to your organization. As such, you’re in a position to discover the subscription potential within your business. But to enter this growing market takes careful planning and an understanding of multiple processes. Before you make the leap, strategize the launch of your first subscription offer with experts who have helped numerous other companies to succeed in the Subscription Economy.