Companies can successfully transition to a subscription model by focusing on the individual customer and their preferences. They can use data from customers' online experiences to inform their strategies. For example, Adobe led the way in cloud-based subscription software services, overcoming initial challenges to reach a position of steady growth. Companies can also leverage the Internet of Things to move even heavy equipment like construction supplies to a subscription model. The subscription access model is being used in various sectors including healthcare, government, and utilities.
Subscription services have grown revenues 8X faster than the S&P500 and 5X faster than US retail sal...
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