Nurturing long-term customer relationships to unlock growth in the subscription economy
Understand the path to sustainable growth with your subscription model.
Businesses around the world are looking to capitalise on consumers’ voracious appetite for subscription goods and services in the coming years.
Fuelled by the pandemic and the behaviours that people were forced to adopt during repeated lockdowns, the global subscription economy is now forecast to expand to a USD 1.5 trillion market, representing an 18% compound annual growth rate (1).
Subscriptions enable people and businesses to buy products in a way that suits them, at a price that is affordable for the consumer. And for businesses, subscriptions mean regular cash flow, increased customer retention, and improved business growth decisions.
But as consumers become more budget-conscious and the subscription economy grows increasingly competitive, it is important that organisations lay strong foundations as they introduce these products to market.
This White Paper, written jointly by experts from Clarasys and Zuora, aims to help businesses get off on the right foot by offering ideas and important details that we believe will be useful, including:
✓ The common traits of a good subscription-based offering
✓ The five key competencies required to drive success with the customer-centric subscriptions model
✓ Details on the five key stages within the subscriber lifecycle
(1) Research carried out by UBS