Subscription Economy: A new survival kit

  • 30th Jul'20
  • 144
  • 12
  • 0

What is a subscription economy?

 

Subscription economy refers to the business of offering a subscription to the consumers. For some companies, their entire business relies on the subscription business model. Example: Netflix, Spotify, Zipcar, and all SaaS companies. 

Other companies office subscription in addition to the pay-per product businesses. Example: Amazon, Amazon prime incorporates a subscription into their pay- per product business.

Click on the link below to get a complete description:

https://www.google.com/amp/s/neilpatel.com/blog/excel-at-subscription-economy/amp/

Subscription economy survival depends on the people not on the products. Click on the link to read more:

https://www.profitwell.com/blog/subscription-economy

 

Subscription Economy Growth

 

In this technology-driven world, the growth of the subscription economy is on the next level. A large proportion of people are now more dependent on web content mostly for entertainment purpose. In this busy world, where everyone is busy in their schedule, no time to go for traditional entertainment sources. Subscription e-commerce has helped a lot to make entertain people despite their busy schedule in this fast-moving world.

Click on the links below to read more about the subscription economy growth:

https://www.businesswire.com/news/home/20191003005016/en/Subscription-Economy-Grows-350-7.5-Years

https://www.zuora.com/resource/subscription-economy-index/

https://www.zdnet.com/google-amp/article/5-trends-driving-the-end-of-ownership-and-the-growth-of-the-subscription-economy/

 

Subscription Economy market size

 

Subscription marketing refers to marketing goods and services to customers on an ongoing basis. It involves the different approach of marketing, as the goal is to acquire customers and retain them for long term repeat purchase.

Over the years, the subscription economy market size is grown on the next level. More people are dependent on the subscription economy.

Here are the links to give you complete insights about the subscription economy market size:

https://www.jpmorgan.com/merchant-services/insights/rise-of-subscription-in-southeast-asia

https://www.nst.com.my/world/region/2019/11/535655/subscription-economy-rm22-trillion-industry-2020

 

Subscription Business Model

 

Subscription business model is a business model in which customer must pay a recurring price at regular interval for access to a product. This model was pioneered by publishers of books and periodical in the 17th century and now is used by many businesses and website.

Click on the link below to know more about the subscription business model:

https://www.investopedia.com/ask/answers/042715/how-do-subscription-business-models-work.asp

There are various innovative ways to build a subscription business model according to your plans and business perspective. Different tips and tricks are applied to create a subscription model. Click on the links below to read more:

https://www.zuora.com/guides/nine-keys-building-successful-subscription-business/

https://www.garyfox.co/subscription-business-model/

https://blog.fusebill.com/what-are-the-4-innovative-subscription-business-models?hs_amp=true

 

We, at OpenGrowth, are committed to bringing the latest trending startup ideas around the world. Do let us know if you want us to cover a particular topic.

 

About the Author: Sareen Yasmin

Her passion includes creative writing, reading and playing around words. She is looking forward to bringing some change with the power of pen and thoughts. Mic and pen are her best friends.

Sources/References:

*Note: The content published above was made in collaboration with our members.

About the author:

Editor , OpenGrowth Content Team

The Editorial Team at OpenGrowth is working to provide you with the perfect place to know everything about startups. Feel free to connect to us.


Post Your Comment