The banking industry is in the very early stages of exploring subscription offerings. However, there are both start-up firms and huge players making moves into this space. Odds are that the future successful offerings will cater to younger demographics, on fully mobile platforms, offering a wide range of substantial added value to make the subscription price compelling compared to current common free checking plans.
Michael Moran Alterio is Subscription Insider’s staff writer focused on subscription business trends and research. He is a journalist and data analyst with over 20 years of experience with a keen sense for the story behind the spreadsheet.
Interest in subscription boxes online is flattening, and the most recent data shows that traffic to subscription box sites is way down. There is still a lot of money in the industry, and a plateau is not a bubble, but a shakeout is coming. These three trends point to strategies that smart companies will use to survive.
More gamers are playing -- and paying -- for video games than ever. Gaming has even surpassed paid TV among millennials. In this golden age of gaming, the offerings are vast and many companies are trying out payment plans and options, especially subscription. The winning business model has yet to be determined.
It no longer makes sense to buy hardware as computers and servers, each one requiring an OS install, maintenance updates, and component upgrades. Instead, let a service handle all that for you, as you subscribe to computing access over the Internet.
B2B marketing differs from consumer marketing in one crucial way: The customer base is almost always smaller. That means a viable B2B marketing plan can be more personal, more focused on particular leads, and more devoted to one-on-one human interaction.
The most successful subscription companies -- like Apple, Amazon, and Microsoft -- not only offer customers compelling reasons to remain subscribers, but they also make those subscribers happy to be locked in.
Although 69% of marketers say that conversions are their top priority, the fact is that a typical good conversion rate only hovers around 3%. That means putting a lot of work into making those conversions. Here are some ideas for getting it right.
Three established companies in this category -- Costco, Sam’s Club, and BJ’s -- sell more than $160 billion in economy-size goods while regularly dominating the customer satisfaction rankings. How do they do that? With recurring revenue from loyal subscribers who are also devoted fans.
Rent is a really expensive monthly subscription to not being homeless.” So say the folks on social media ... and the data backs them up. Moreover, a growing number of housing-as-a-service startups are seeing it that way too.
In the wider universe of “influencer marketing,” video bloggers who share the experience of opening a subscription box are offering those services a powerful publicity assist. More than half of Americans have seen at least one vlogger video ever, and 30% watch at least one a week. In another survey, 32% of Americans say they depend on video sites such as YouTube to find out about new products. With the huge popularity of influencers who are using video to “unbox” products, that’s an amazing opportunity for companies that sell boxes by subscription.