Question
A subscription model can significantly affect customer loyalty. It provides a consistent and predictable revenue stream for the company, and in return, customers get continuous access to the product or service. This model encourages companies to continuously improve their offerings to retain their subscribers, which can lead to increased customer loyalty. Moreover, it allows companies to collect customer data and personalize their offerings, further enhancing customer loyalty.
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Whether for an established company like GE, a streaming service like Netflix, or a new service provider like Box, accessing customer data to create a subscription-based offering is the growth path of the future: companies running on subscription models grow their revenue more than nine times faster than the S&P 500.
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