In any industry it’s important to consider how you can create the best options for optimizing your business. It certainly isn’t different within the subscription business. The subscription based industry is constantly expanding. Flexibility becomes vital in order to offer the best subscription plans to your customers, while setting prices that fit your product or service. As a subscription business it is important to choose the right subscription model, since it will most likely be a service you sell – not a product, which you can easily describe and display. That’s why it’s extra important that you consider how to become a trustworthy business, if you continually want to optimize your service.
As a subscription business, you can choose between a lot of different subscription models – all creating various benefits, depending on the service you provide. Subscription models can be applied to any kind of subscription business. There is no one-size-fits-all when it comes to choosing a subscription model. Your customers need to feel sure about the value of your product and it’s your job to encourage this feeling. Choosing the right subscription model can strengthen the customer relation, reduce churn and assure maximum, stable revenue in the long run.
As I already pointed out, you can choose between several subscription models. The models all have different characteristics and strategic benefits, which makes it important to consider which one to choose in order for you to continually create opportunities and growth within your business. With inspiration from “The Automatic Customer” by John Warrillow we’ll go through 9 different subscription models, supported by Reepays four different billing models, the fixed-price model, the metered based model, the one-time charge model and the user based model. Read along the following blog posts as they will discuss the benefits of these 9 different models to help you identify the right one for your exact business