You may wonder why are more and more companies are turning to subscription models?
Well, here Warrillow explains that sometimes trends aren’t trends because of buzz or visibility, but because they actually work… and sometimes those trends work so well, they start spreading across all industries.
He says that subscriptions, the “new” business model, has actually been around for centuries. It’s always been standard practice for newspaper and magazine customers to pay for their products on a periodic basis. Although the subscription model diminished at the onset of the internet, it’s come roaring back.
This book explains how we can learn from WhatsApp and dozens of other companies, both big and small, that have used subscription models to improve their bottom line and outpace the competition.
We also find out why Dollar Shave club names its razors; what painful lessons gamers taught World of Warcraft; and how Amazon used subscriptions to go after Walmart and Target.
And he also goes on to demonstrate that subscription-based services are a major part of today’s business world and there are 3 main reasons the subscription model is going through a renaissance: –
- Firstly, there’s the rise of the access generation that favours access to material rather than ownership of it.
- Secondly, people aren’t afraid to make financial transactions online anymore.
- Finally, data has become a key asset in today’s economy and subscription-based companies rely on data collection even more than most other businesses do.
Big and small companies alike are discovering the benefits of implementing subscriptions that are convenient for their clients and the company itself.
These changes have convinced a number of the world’s most successful companies to shift their business strategies and make more use of subscriptions.
So, to figure out which model works for our business, we need to do our research and attract and the right customers. We have to understand and use subscriptions if we want to keep our business relevant.
Automatic Customer is an easy read and a great investment for any business owner.
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