A subscription-based model can be applied in different industries by identifying the service-level agreement that sits behind the product. Companies from various sectors, including software-as-a-service, auto manufacturers, music providers, and construction equipment manufacturers, are turning customers into subscribers by leveraging this model. The key is to understand the recurring needs of the customers and offer them a service that caters to these needs on a regular basis, thus ensuring a steady stream of revenue.
Subscription services have grown revenues 8X faster than the S&P500 and 5X faster than US retail sal...
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