Customer feedback plays a crucial role in the development of a successful subscription service. It helps in understanding the wants and needs of the customer base, which can then be used to create a service that delivers ongoing value. Feedback can guide the necessary organizational changes, focus shifts in sales, marketing, and finance teams, and new IT approaches. Despite the initial drop in revenue and rise in expenses, the insights gained from customer feedback make it a worthwhile investment.
Subscription services have grown revenues 8X faster than the S&P500 and 5X faster than US retail sal...
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