What’s the value of a repeat order to your business?
It may have started with Dollar Shave Club, but subscription services have sky rocketed to all kinds of industries.
Subscription services are a brilliant strategy for any business because they completely sidestep dollar-for-dollar marketing wars for “share of mind.” No longer do you have to go to battle with your competition for every monthly repurchase. Your customers purchase once and it’s simply more convenient to continue with the subscription. Why shop anywhere else? As long as your service is optimized for that convenience factor as well as price, there’s no reason to even consider the competition.
Convenience, reliability, quality and the “check it off my list” attitude are all the reasons that subscription programs are successful. Products with a short and predictable repurchase cycle are ideal!
Is there something your company could offer on a subscription basis? Should your business shift the paradigm on how something is sold to a recurring model? Would it deliver convenience and price benefits to your customer? If you’ve answered “yes” to any of these questions, isn’t it time that your business invest in subscription programs?