Construction equipment manufacturers can implement a subscription-based model by identifying the service-level agreement that sits behind their product. They can then turn their customers into subscribers by offering these services on a regular basis, rather than a one-time purchase. This could include regular maintenance, updates, and access to new equipment as it becomes available.
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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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How can your company take advantage of the subscription-based model, the most dynamic growth sector of the economy? describes how companies from software-as-a-service to auto manufacturers, music providers to construction equipment manufacturers, are turning customers into subscribers by teasing out the service-level agreement that sits behind the product.