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Customer data plays a crucial role in creating a subscription-based offering as it allows companies to understand their customers' needs, preferences, and behaviors. This understanding can then be used to tailor and personalize the services, leading to increased customer satisfaction and loyalty, and ultimately, revenue growth.
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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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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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