There are several ways to make a subscription model more appealing to customers. First, ensure the pricing is competitive and provides value for money. Second, offer a variety of subscription options to cater to different customer needs. Third, provide excellent customer service and support. Fourth, regularly update and improve the product or service to keep it fresh and relevant. Lastly, use customer data to personalize the service and make it more relevant to individual customers.
Asked on the following book summary:
Subscription services have grown revenues 8X faster than the S&P500 and 5X faster than US retail sales. This new business model is why Adobe, Netflix,...
Go to dashboard to download stunning templates
Download
Question was asked on:
Whether for an established company like GE, a streaming service like Netflix, or a new service provider like Box, accessing customer data to create a subscription-based offering is the growth path of the future: companies running on subscription models grow their revenue more than nine times faster than the S&P 500.
Ask another question
What’s the best way to showcase and assess a business idea? Customize our Business Model Canvas to compartmentalize and prioritize the most important elements to make a successful business. Whether you’re still brainstorming the next big idea or looking to modify your current business model to better suit market needs, this canvas collection can help you describe how a company creates, captures, and delivers value.
What is the most effective revenue model or monetization strategy for your organization? This presentation provides a comprehensive guide to tried-and-true revenue models that can be highly lucrative when used right. Use these slides to integrate sound avenues for monetization with your current value proposition, customer relationship, and operation structure.
Need a business plan for projections and scenario plans? Forecast new product lines or price strategies for subscription, ads, or product-based revenue models for any business type - not just mobile apps. Accounts for CapEx, overhead, and sales and marketing.
Are you looking to determine which investment opportunities are best for your company, especially when multiple options are available? How can you tell you’re investing your capital in the best project? Our Captial Budgeting template, available in Microsoft Excel and Google Sheets, will help you to evaluate the best projects and opportunities to invest in.