Subscription-Based Business Models Key Facts and Information

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Subscription-Based Business Models Key facts and
information
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Subscription-based businesses
From Spotify to Netflix, the rise of
subscription-based businesses is having a real
impact on how consumers buy and use products.
Instead of making one-off purchases, people are
now subscribing to services, renting products,
and making recurring payments. This shift in
consumer behaviour is changing the priorities for
many businesses. Simply selling units of a
product or service is no longer enough.
Building lasting relations with customers is
now vital.
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Subscription-based innovation
Some of the most innovative new business ideas
are using subscription-based models King of
Shaves shaving packs Glossybox - cosmetics Kopi
Coffee Club - beverages Shirtsmart bespoke
clothing Graze healthy snacks Zipcar
vehicles Even Boris Bikes fit into the
subscription-based business model
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Reacting to the shift in consumer behaviour
80 of businesses (US, UK and Australian) have
seen changes in how customers access their
services. As a result, over half (51) are
considering new business models including
subscription pricing. Of those,
subscription-based models have emerged as the
primary means to do so, with 40 of these
companies implementing subscription services as
part of their core business. 2013 survey of
US, UK and Australian businesses conducted by the
Economist Intelligence Unit
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Subscription-based benefits

• Becoming a subscription-based business offers
  some major benefits.
• Here are a few to consider
• New revenue opportunities
• Improved cash flow
• Competitive point of difference
• Increased customer loyalty
• More accurate stock control

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4 subscription model ideas

• Could customers subscribe to your business? 4
  ideas to consider
• Sell yourself - Give your customers the benefit
  of your expertise and passion. Send them products
  that youre most excited about.
• Sample yourself - Package up samples of your
  products, giving your customers the chance to try
  before they buy.
• Sell your library Offer access to your content
  library for a monthly fee. Specialist
  publications, video guides etc.
• Sell your services Maintain and monitor the
  software or hardware that your clients use,
  including upgrades and repairs.

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4 subscription implementation tips

• Consider the time to market your idea should
  get you to market in weeks or months (rather than
  years).
• Be adaptable - your model should be able to adapt
  to new trends and shifts in customer behaviour.
• Give yourself room ensure that your model gives
  you the ability to upscale your customers and
  grow your business.
• Minimise risk make sure your commerce and
  payment solution is fully compliant and regulated.

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AccessWallet for subscription-based businesses

• AccessWallet is a fully secure, cloud-based
  online payment solution. We make it quick and
  easy for businesses to collect recurring payments
  from their customers.
• Why choose AccessWallet for your
  subscription-based business?
• Low transaction fees
• No set up costs
• No monthly or hidden costs
• 100 cloud-based
• Quick and easy set-up
• Mobile access
• Bank-grade security
• Seamless integration
• Advanced customer notification

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Any Questions?
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Place,259-269 Old Marylebone Rd, London NW1
5RA
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info_at_accesswallet.com Website
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