The subscription model is nothing new. The idea of recurring revenue is as old as newspapers and periodicals. But if you feel like you’re seeing subscription pricing everywhere these days… you’d be right.
From multivitamins to home maintenance, snacks to shaving kits, workout programs to wine-of-the-month clubs, many businesses are capitalizing on the subscription boom. Even using a word processing program or ordering groceries can cost you a monthly fee now.
The beauty of the Subscription Economy (a fitting phrase coined by Zuora) — and the reason the model is becoming so popular among businesses of every industry — is that it opens the doors for accelerated growth and revenue while still providing convenient and often necessary services for customers. In other words, it’s a win-win.
Here’s a look at the stats behind the current Subscription Economy and why it’s a good idea to get in on it any way you can.
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