The Subscription Economy, gaining the full potential has been saved
The Subscription Economy, gaining the full potential
Resilience and sustainability in times of crisis
COVID-19 has quickly emerged as the number one risk to global activity, with every sector of the economy being hit. However, research shows that subscription-based businesses are proving resilient in the face of this crisis, with 8 out of 10 companies sustaining or growing their subscriber base.
Thursday 4 June | 9:00 - 10:30
- The impact of COVID-19 on the Subscription Economy
- Lessons from the field: Innovative and sustainable business
models at Energy Solutions company
- Getting your organisation up to speed. Selected focus areas:
o Your commercial organisation
o Your finance and tax organisation
o Your technology organization
- Bringing it all together: Subscription-in-a-Box & Closing Q&A
Our lives are increasingly evolving toward digital services, whether or not combined with products we know today. Customers are demanding they be able to consume these offerings in a more flexible and scalable manner. They want to be able to choose where, how, and how much they consume and pay for. This is creating a shift to subscription business models across every industry.
With COVID-19 emerging as the number one risk to global activity, and a huge impact on the global economy, we believe this shift will only accelerate as flexibility requirements increase. In addition, research shows that subscription-based businesses are proving resilient in the face of this crisis, with 8 out of 10 companies sustaining or growing their subscriber base.
Flexible consumption requires an entirely new business model that fundamentally alters how products and services are sold and to whom. Moving to a subscription business model may call for changes to business capabilities, operating models, and enabling technology platforms.
In order to make the transition or expansion from a more traditional model, executives first need to determine what this “new” business model should look like. It starts with understanding where you are currently—and then determining where you need to be in order to respond best to customer requirements and market shifts.
However, getting that level of clarity requires more than asking whether it is time to switch to a subscription model or to start unbundling your current offerings. You need a clear understanding of how your industry is evolving, where competition is most likely to surface, and where disruption could happen. Then you need to kick the tyres on every aspect of your future business model to make sure it is going to get you where you want to go.
Worth doing? Absolutely. Subscription business models can be a key enabler to thrive again during and after the crisis, creating sustainability in the long run relying on more predictable, recurring revenues.