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4 Types of Businesses That Are Switching to Subscription-Based Models

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You might have noticed that more businesses are now making subscriptions an essential part of their business model. Magazines might have dominated the subscription market in the past, but it is now full of everything from software to clothing. You may think that your business shouldn’t offer subscriptions, but the expanding use of recurring payments proves that almost any business can utilize subscriptions. With a subscription management platform, you can make the switch easier than ever. Here are four markets taking advantage of subscription-based solutions and how they can inspire you to try it too. Subscription Management At-Home Fitness Equipment with Software Subscriptions Gym memberships came first, but subscriptions for at-home workout plans have revolutionized the fitness industry. Companies offer fitness equipment like dumbbells and stationary bikes alongside subscriptions to personalized training routines to help subscribers use them regularly. Selling hardware alongside yo

4 New Ways to Price Your Subscription-Based Business Model

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With subscriptions becoming more and more common, the original subscription-based services, like newspapers and gym memberships, seemed to be ahead of their time. Now, innovative companies across a wide range of markets have switched to a system of recurring billing for their products. From streaming services to meal kits, clothing, cosmetics, and so much more, subscriptions are a great way to build a steady revenue stream, interact with customers, and simplify payment processes. However, there is more to a subscription-based business model than simple monthly payments. New patterns of payment are becoming the status quo. Here are four innovative subscription pricing models you can adopt to drive customer growth. A Tiered System for When You Have Extra Features to Offer When you offer multiple versions of a product or service, such as basic and professional options, a tiered pricing model is a good subscription offering. Car washes are an excellent example of the technique. They migh