Today, I read an article on Inc.com titled, “Why Your Brilliant Pandemic-Era Subscription Service Needs a Recessionary Makeover.” I found the information to be very insightful, and I encourage you to take a look. In summary, a few strategies to consider include adding tiered subscription offerings, allowing customers to hit the ‘pause’ button and incorporating ads.
If you have other ideas to share, I’d love to hear them! And, as always, feel free to schedule time on my calendar for a risk-free conversation about your subscription commerce strategy!
Every week, we highlight the biggest news happening in the subscription economy. Our hope is to inspire you to glean from what other successful recurring revenue merchants are doing, and we scour the web so you can stay current without getting buried in content. We also accept submissions, so please share your latest business news with firstname.lastname@example.org for consideration.
Deals of The Week
Rocksbox on Keeping Subscriptions Fresh
The president of Rocksbox, a monthly subscription service that rents jewelry to customers with an option to buy, shares insights on staying competitive in the subscription economy.
Read the full story on PYMNTS.com.
BMW Bets the Fuss Over Its Heated-Seat Subscriptions Will Pass
The carmaker still has high hopes for selling digital services to drivers.
Read the full story on Bloomberg.com.
How Banking Providers Can Tap Subscription Economy Revenue
The average U.S. customer has multiple subscriptions to obtain goods and services via e-commerce — ranging from streaming services to dog food. Here’s how financial institutions can get a slice of this massive source of revenue.
Read the full story on TheFinancialBrand.com.
Delivering a Great Customer Experience — Even When a Payment Fails
The way subscription businesses go about recovering failed payments is extremely important.
Read the full story on SubscriptionInsider.com.