The direction the modern consumer marketplace has taken is pretty clear.People want quality products that are tailored to their preferences without having to bend over backward to get them.The answer to this specific desire, many industries have discovered, is the subscription business model.
Once the purview of magazines and other print publications, the model now works for customers who seek anything from razors and makeup to food, music, and educational classes.
Benefits of the Subscription Business Model
The subscription approach owes its success to the balance of value it offers to both company and customer, entrepreneur Chuck Longanecker explains. This balance of benefits is what makes the model so strong and sustainable.
“For customers, the value lies in the convenience,” Longanecker says. “For businesses, the value of a subscription is the ability to predict revenue through recurring sales.” More specific, subscription business models yield the following benefits –
1. Easy Scalability
3. Stronger Customer Relationships
Four Industries That Thrive With the Subscription Model
1. Online Learning
2. Streaming Music
3. Beauty and Health Products
4. Food and Beverage
Read the full article at: www.business.com
Every industry has entered the Subscription Economy! Here are a few industries and companies that we work with. And to get started on your subscription business journey, head over to the Zuora Academy!