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A company can ensure its subscription service delivers ongoing value by starting with the wants and needs of its particular customer base and creating a service that delivers ongoing value. This will require a new organizational structure, a shift in the focus of the sales, marketing, and finance teams, and a new approach from IT. Despite the initial drop in revenue and rise in expenses, it will be more than worth it in the long run.
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With consumers increasingly focused on access over ownership, the key is to start with the wants and needs of your particular customer base, then create a service that delivers ongoing value. This will require a new organizational structure; a shift in the focus of the sales, marketing, and finance teams; and, a new approach from IT. But, the initial drop in revenue and rise in expenses will be more than worth it.
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Subscription services have grown revenues 8X faster than the S&P500 and 5X faster than US retail sales. This new business model is why Adobe, Netflix,...
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