What are potential customers interested in?
Let's look at the respondents who would be willing to take out a non-traditional subscription. What are they interested in?
Subscription management - which products are ordered in subscriptions
All products listed here are consumables for regular use, but there are still large differences in the response behavior of the respondents.
Our survey does not provide a definitive explanation for the reasons for these differences. In part, they can probably be attributed to the fact that the products in question are only aimed at certain groups (period products for women, baby care products for parents with children). On the other hand, 54% of respondents said they were interested in a pet food subscription - and presumably not all respondents have pets. Only 22% are interested in shaving products on subscription - and this is not a product group restricted by gender or other factors. Perhaps it plays a role that pet food is heavy and has to be transported in large bags. Whatever the exact reasons behind the answers, they show one thing very clearly: it is important for companies to think carefully about which products and services they offer as a subscription. Not everything that looks like a clear candidate at first glance is met with unanimous enthusiasm by consumers.
Our recommendation: The market for subscription models does not yet appear to be saturated and there is likely to be great potential for further growth. However, the approach is no longer new and providers are competing with both direct competitors and with products and services from outside the industry. It is therefore important to analyze the market carefully and develop a very clear idea of what consumers see as the long-term value in this specific subscription model (not just the product or service, but specifically the subscription model).
We have now talked about whether our respondents are interested in subscriptions at all and taiwan telegram data if so, which ones. These are important questions, but...
...how much are you willing to pay for it?
Subscription management - how much do consumers want to spend on subscriptions
There would certainly be variation here if we were to ask about specific products or services - but we can see that the subscription model starting at €30/month is much less popular. This raises the following questions for providers: Can I offer my product/service for under €30/month with the required quality and reliability? If not, how do I convince enough customers to pay over €30 per month? What makes me so special that I will be successful in the premium segment?
Another challenge of subscription management: business processes
Subscription models work differently than traditional business models; as a result, they also have their own requirements for business processes. This is important because customers are being asked to make long-term commitments - which also increases the expectations that consumers place on companies. They pay money every month for the promise of good, reliable service. Subscription models advertise the (partial) automation of areas of life. If that doesn't work, you lose customers and only get them back with difficulty. And that happens quickly: How often would you be willing to live with the fact that the food in the box is not fresh or doesn't arrive at all?