If you are considering a switch to subscriptions download our white paper here: Do Subscriptions Make Sense For Your Business?
You’ve probably heard a lot of talk about subscription billing lately, but the concept isn’t a new one: subscription billing has been around for as long as there have been newspapers and magazines. The idea of paying a fixed or variable amount on a regular basis for a product or service has definitely carried over to the digital world. Companies are abandoning the notion of simple one-time charges for their product as they realize that these sales are no longer enough to assure profitable growth from the digital channel.
The subscription business model has gone mainstream with companies like Dropbox, Netflix and Adobe because it offers a predictable, recurring revenue stream. But is it the best option for your company and customers?
Let’s explore.
Do Subscriptions Make Sense For Your Business?
There are many factors that your business needs to consider before transitioning from perpetual licensing to subscriptions. Our complimentary white paper outlines these key considerations, including:
- Which type of subscription model best fits your business?
- What are the pros and cons of subscription billing?
- What do all successful subscription businesses have in common?
In their eagerness to earn more revenue and keep up with trends in global ecommerce, too many businesses want to dive headfirst into the subscription commerce pool. Be cautious: before you take the plunge, consider how you’re going to build a subscription service and how your customers will interact with it. Make sure you’re building it to meet the needs and interests of your target market. Ask yourself, “What are the key customer benefits? What customer pain points does it solve? Will customers engage with the product?”
