Subscription income is a powerful driver of value for business.
Subscriptions preserve the relationship with the customer and keep the dialogue open to offer new products and services over time.
Recurring income is also valuable for managing your business as it makes forecasting cash flows easier.
Consider how your business can provide subscriptions for your customers (even if you think your business model isn’t suited to subscriptions).
A great example is Who Gives A Crap toilet paper.
Their traditional business model was offering bulk packs of eco-friendly and socially-friendly toilet paper, which customers would buy at their discretion. Now they also have an option for customers to subscribe and receive an order every 2 to 4 months.
You may think it’s strange to buy toilet paper as a subscription – but when you’re given the option at the checkout window, it makes you question why you wouldn’t.
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