Let’s say you’re a business or service provider who wants, or who even already is taking advantage of a mobile-based model for their services. You provide a service, your customers pay X amount every Y amount of time, and that’s more or less the end of it. You, as a business owner, will enjoy the consistent revenue and connection to your customer base, but what about your clients themselves? It’s crucial as a business owner to make sure that the value you provide for people is congruent with the price you charge. You might be asking yourself, “Is this really the right way to do things?”
A “pay once and you’re done” type of payment plan might seem appealing, but here’s what the subscription model does for customers:
Increased follow-up and support
Whenever someone buys a product and has no further financial obligation to a particular company, they might notice that said company might feel no further service obligation to that customer since they won’t be receiving further remuneration. With the subscription-based model, the client is always much more entitled to continued service and support since they are continuously funding that particular business venture. It’s hardly a prudent business move to lose subscribers, meaning that most subscription-based businesses are in constant contact with their customers to make sure that satisfaction is as high as possible.
Ability to change to fit customer need
What a particular group of people needs out of the product being offered can change on a remarkably consistent basis. Or, you might notice that your specific suite of services is missing a vital aspect that your customers think is valuable. With a “pay once”-style model, changing up your services means you’ll have to worry about people thinking you’re changing your entire model to suit a new purpose, or your product might be more confusing. With the subscription-based model, it’s simply a matter of adding the new features, and all of your current customers will feel as if they received something for a good deal. There’s no change in philosophy, no change in price, just change in the level of service offered. You can also provide Bitcoins as a payment model in your business, similar to Bitcoin Revolution.
Ability to quit when necessary
Certain customers won’t pay over a certain threshold for a product, no matter how useful or amazing it might seem. Not only that, some people might only want a service for a short amount of time before dropping it entirely. Since continuity subscription merchants offer flexible payment, there’s no need for any customer to break the bank just to take advantage of what you’re offering. People can pay what they think is fair, and then go about their day. While you might not receive the same amount of high-ticket purchases, you need to weigh it versus the higher amount of low-ticket subscriptions you’ll receive and lose over time.
Conclusion
The consumer benefits significantly from a subscription-based service, not just the business owner. If you’re lucky enough to create a service that makes conducting life or business needlessly tricky without it, and if you choose your price correctly, you’ll have lots of subscribers who will subscribe indefinitely as a “cost of doing business.” In the end, many new businesses are looking to the benefits of subscription-based services instead of massive lump sum products that are inaccessible to the average consumer.