The subscription model contributes to the digital transformation of businesses by shifting the focus from product to the individual customer. It allows businesses to provide outcomes rather than ownership, which is preferred by modern customers. This model has transformed various industries including retail, news, media, and automotive, among others. For instance, Adobe's cloud-based subscription software services overcame initial financial challenges to achieve steady growth. The Internet of Things has also enabled heavy equipment like construction supplies to adopt a subscription model. This model is now being used in various sectors including healthcare, government, and utilities. The customer-focused subscription company has to break down traditional silos and focus on customer success, which leads to business success.
Subscription services have grown revenues 8X faster than the S&P500 and 5X faster than US retail sal...
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