Subscription-based models have started to dominate markets. Because of this, we’re moving towards a world where everything will become set at a fixed monthly cost. Mobile has become the catalyst for pushing this change forward.
Netflix is one of the most notable subscription trailblazers as its subscribers quickly began cutting cords and ditching movie rentals across the globe. It’s one service with everything included. Cable went wrong when they decided customers must make additional purchases in order to access top channels, movies and shows. As shown by Netflix’s game-changing success, people are not interested in paying for extras. Subscriptions have even made their way into our kitchens with apps like Blue Apron and HelloFresh. One fixed price brings you delicious meals weekly. There’s a certain peace of mind subscriptions bring about that allow consumers to feel comfortable knowing the service they’re paying for won’t entail surprise hidden costs. Even smaller businesses are getting in on the subscription action. Here in DC, a local car wash has been able to double their revenue by adding a $24.99/mo option for unlimited washes as long as you use their app. This serves as a prime example of the consumer loyalty subscriptions can build.
Web and mobile solution providers are among companies that stand to greatly benefit from offering clients subscription-based models. Price anxiety is a real issue continually driving potential clients away from new technology. It’s an overwhelming purchase with a lot of unknowns. But when a client has comfort in knowing they have an all-inclusive service to rely on, it eases that anxiety. There are a number of solutions such as ASI’s iMIS that have recently taken this approach. They’ve moved to a cloud-based subscription model for associations to utilize throughout all of their ongoing tech needs. Clients are wise to take advantage of this approach as they’re able to update quicker and gain much more value from their solution provider.
Think about it - what if Starbucks added a monthly subscription for an all-you-can-drink experience at one set price? You’re no longer worried about what you’ve spent each month on daily coffee. You’d already know beforehand. And think of your experience inside the coffee shop. There’s no worrying about additional costs. You’re only focused on enjoying your drink without prices and extra fees to distract you. We’d sign up for that any day.
