Subscriptions as a business model
Remember? Once upon a time you bought LPs, CDs or downloaded your favourite music, and if you felt like seeing that great TV series, you bought a neatly designed DVD box. But that’s a thing of the past for most of us.
We stream using monthly all-you-can-eat subscriptions from the likes of Spotify, Apple, HBO or Netflix. Great examples of how successful the emerging subscriptions as a business model is. And it goes way beyond entertainment. Take your modern business software for example, even this is brought to you as a (monthly) service. Ever wondered how you can make this work for your business or service?
Taking opportunities with Exact Online?
Seeing the massive opportunities to be gained from this new revenue model, we’re proud to introduce a brand new module: Exact Online for Subscription Management?. This enables you to package your products as a service and manage them easily – all from within Exact Online. Examples? This can be anything. A florist who delivers bouquets to companies on a regular basis, a machine builder or IT service provider who does monthly maintenance.
3 main benefits of the subscription business model
Not seeing the big picture yet? Here’s the 3 main benefits of selling products and services as a subscription.
Benefit 1: improved cash flow
Subscriptions are automatically paid in advance using direct debit. Perfect! Say goodbye to waiting weeks for your money and constantly sending out reminders. Consider our DD Collector app for Exact Online.
Benefit 2: predictable revenue
Subscriptions generate a steady flow of income and therefore offer clear insight into the revenue that can be expected. By monitoring the process, you can determine in advance when it’s necessary to intervene or adjust.
Benefit 3: better relationships with customers
With a subscription you earn your customers’ loyalty, and as a result you become less reliant on single transactions. This allows you to get to know each other better and learn what makes them tick. It shouldn’t be too hard to use this knowledge to support them better or offer new services. Making your sales and marketing machine more professional in the process.
Contact James today email@example.com to learn about the benefits Exact Online can bring to your business.