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The world is moving from products and services to subscriptions, favoring access and transformations over ownership and deliverables. McKinsey reports that the subscription ecommerce market has grown by more than 100% per year for past five years. The advantages to a subscription model are many, including: Predictable revenue; not selling services, but creating annuities with a lifetime value that far exceeds whatever you paid to acquire them; collective knowledge of your customers, which is a competitive advantage that cannot be duplicated; the customer relationship is at the center of the firm; not pricing a product or service, but rather a customer transformation, peace of mind, and convenience; and you can predict demand and plan capacity more effectively.
Learning Objectives
Identify strategies utilized by businesses that have made the transition to a subscription-based model
Review in-depth exploration of the nine types of subscription business models
Recognize the psychology of selling subscriptions
Indicate how to develop new metrics and accounting information to represent the economics of a subscription business
Identify the three types of adoption approaches to creating a subscriber base
Implementing a subscription business model for firms is hard work and not for everyone because it requires professionals to think differently than they have in the past about what it is, exactly, that their customer value. If you think you have what it takes to make this shift or are just curious about it, you are hereby invited to open a dialogue about how best to alter this language by Ed Kless, Sage’s senior director of partner development and strategy, and Ron Baker, founder of VeraSage Institute, who will facilitate this session.
