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The Rise of the Subscription Economy: Strategies for a Sustainable Business Opportunity
Manage episode 361869978 series 3441568
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In this episode, we take a trip back in time to 1403 to explore the origins of the business subscription model. We learn about The Stationers', a religious fraternity formed by text workers, illuminators, bookbinders, and sellers of manuscript books, which played a crucial role in regulating and controlling the printing industry.
Fast-forward to the present day, and the subscription model is transforming the way we consume everything, from entertainment to essential services. We discuss how personalisation is the driving force behind customer loyalty and retention, with a massive 73% growth in personalisation efforts over the past couple of years. This is followed by an exploration of how businesses of all kinds can benefit from the subscription model and build stronger customer communities, with the power of convenience, adaptability, and revenue generation at the forefront.
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