A company can transition from a traditional business model to a subscription-based model by first identifying the service-level agreement that sits behind their product. This involves understanding the value their product provides and how it can be delivered on a recurring basis. They can then develop a pricing strategy that reflects this value and encourages customers to subscribe. It's also important to invest in customer relationship management and retention strategies, as the success of a subscription model depends on maintaining long-term customer relationships.
Subscription services have grown revenues 8X faster than the S&P500 and 5X faster than US retail sal...
View summary