The Rise of the Subscription Business Model

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• The Rise of the Subscription Business Model

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• Subscription Model Involves Charging The
  Customers A Recurring Price At Regular Intervals.
  With This Model, You Can Reap The Following
  Benefits

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• Predictable Revenue Stream
• The Subscription Model Allows A Business To Make
  Educated Predictions About Future Revenue And
  Thus Helps In Planning And Budgeting.

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• Customization
• You Can Design Different Types Of Subscription
  Payment Schemes To Meet Diverse Demands Of Your
  Customer Base.

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• Optimizing Costs
• Since The Subscription Model Allows Businesses To
  Predict Their Demand Pattern, It Becomes Easier
  To Design Purchase Plans In An Efficient Manner.

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• Once You Have Decided That You Want To Turn Your
  Business Into Subscription-based Enterprise,
  There Are Certain Pointers You Need To Keep In
  Mind.

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• The Right Pricing
• It Is Important That You Pay Proper Attention To
  Different Factors Such As The Income Level Of
  Your Market And The Likely Demand To Determine
  The Price To Be Charged.

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• Simplify Billing
• The Need For Simple Billing Is All The More
  Important In Subscription-based Models Since The
  Invoices Are Sent More Frequently.

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• Develop Deeper Customer Relationships
• As The Customers Grow, It Is Important That The
  Quality Of Customer Relationship Processes Is
  Maintained And Improved Over A Period Of Time.

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• Measure And Iterate
• The Success Of The Subscription Model Largely
  Depends On A Businesss Ability To Measure The
  Results And Take Swift Actions To Remedy The
  Situation.

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• Overall, It Is Important To Ensure That The
  Subscription Model Is Suitable For The Business
  In Question And That Adequate Attention Is Paid
  To Different Factors While Designing This Model
  For Implementation.

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